WALTON MICHAEL K 4

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.