FEIGHT R PRESTON 4

What Happened Feight R. Preston, PACCAR's CEO, had 10,125 restricted stock units (RSUs) convert into 10,125 common shares on March 1, 2026 (reported as a derivative exercise). To cover tax withholding related to the vesting, 3,985 of those shares were surrendered on March 2, 2026 at a withholding price of $126.09 per share, totaling approximately $502,469. The RSU conversion is not a cash purchase but an award vesting event with shares issued and some withheld for taxes.

Key Details

• Transaction dates: RSU conversion (exercise/conversion) on 2026-03-01; shares withheld for tax payment on 2026-03-02.
• Shares involved: 10,125 RSUs converted to common stock; 3,985 shares withheld (disposed) for taxes.
• Withholding price/value: 3,985 shares × $126.09 = $502,469 (amount withheld to satisfy tax liability).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = shares withheld for tax liability.
• Footnotes: F1/F3 — RSUs under PACCAR LTIP convert one-for-one to common stock when vested; F2 — shares were withheld to pay taxes; LTIP awards vest in four installments per plan terms.
• Shares owned after the transaction: not specified in the Form 4 filing.
• Filing timeliness: Form 4 was filed on 2026-03-02 for a 2026-03-01 event (appears timely).

Context This was a vesting and tax-settlement event (RSUs converting to common shares with a net settlement via share withholding), not an open-market sale or purchase. Withholding shares to satisfy taxes is routine and does not necessarily indicate a change in the insider's view of the company.