WALTON MICHAEL K 4

4 · PACCAR INC · Filed Mar 2, 2026

AI-generated summary of this filing

Updated Mar 2, 2026

PACCAR (PCAR) VP/General Counsel Michael Walton Converts RSUs, Withholds 120 Shares

What Happened

Michael K. Walton, Vice President and General Counsel of PACCAR (PCAR), had restricted stock units convert to common stock on March 1, 2026. A total of 490 shares were issued on conversion (exercise/conversion of derivative, code M) at no cash exercise price ($0.00), reflecting RSU vesting.
To cover the tax liability from the vesting, 120 of those shares were withheld on March 2, 2026 at $126.09 per share, resulting in a tax withholding of $15,131 (code F). The filings also show a derivative conversion/disposition entry for 490 shares on March 1 (code M), reflecting the conversion of the awards.

Key Details

Transaction dates: conversion/exercise dated 2026-03-01; tax withholding dated 2026-03-02.
Prices/values: RSUs converted at $0.00 (no cash exercise); 120 shares withheld at $126.09 each for $15,131.
Shares owned after transaction: not specified in the provided summary.
Relevant footnotes: F1/F3 — RSUs awarded under PACCAR LTIP convert one-for-one upon vesting; F2 — shares were withheld to satisfy tax withholding obligations; F4 — PACCAR also uses deferred phantom share units in its DCP (noted in filing).
Filing timeliness: Report filed 2026-03-02 for transactions on 2026-03-01 — appears timely.

Context

This was not an open-market sale. The primary activity was RSU vesting/conversion; the withholding of 120 shares is a common cashless method to pay taxes and does not necessarily indicate a view on the stock. No cash purchase or independent sale to the market was reported.

Form 4

Period: 2026-03-01

VICE PRESIDENT/GENERAL COUNSEL

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-01+490→ 3,005 total
Tax Payment
Common Stock
[F2]
2026-03-02$126.09/sh−120$15,131→ 2,885 total
Exercise/Conversion
Stock Units (LTIP)
[F3][F1]
2026-03-01−490→ 2,997 total
→ Common Stock (490 underlying)

Holdings

Common Stock
(indirect: By PACCAR Savings Investment Plan (SIP))
6,675.163
Stock Option
Exercise: $62.87From: 2025-01-01Exp: 2032-02-07→ Common Stock (1,302 underlying)
1,302
Stock Option
Exercise: $71.95From: 2026-01-01Exp: 2033-02-08→ Common Stock (7,918 underlying)
7,918
Stock Option
Exercise: $104.16From: 2027-01-01Exp: 2034-02-05→ Common Stock (6,108 underlying)
6,108
Stock Option
Exercise: $109.13From: 2028-01-01Exp: 2035-02-03→ Common Stock (5,844 underlying)
5,844
Stock Option
Exercise: $127.35From: 2029-01-01Exp: 2036-02-06→ Common Stock (5,674 underlying)
5,674
Stock Units (DCP)
[F4]
→ Common Stock (13,873.98 underlying)
13,873.98

Footnotes (4)

[F1]Restricted stock units converted to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions.
[F2]Shares withheld for payment of tax liability in connection with the vesting of restricted shares and/or restricted stock units.
[F3]Restricted stock units awarded under PACCAR Long Term Incentive Plan (LTIP) and convertible to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions. Each award vests in four equal installments commencing on March 1 following the award and January 1 of the next three years.
[F4]Share units held in deferred phantom stock account under PACCAR Deferred Compensation Plan (DCP) convertible to common stock on a one-for-one basis upon satisfaction of all applicable conditions.

Signature

Michael R. Beers, by Power of Attorney|2026-03-02

1 file