Peters Luther E 4
4 · CUMMINS INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Cummins (CMI) VP Luther E. Peters Receives 1,888-Share Award
What Happened
Luther E. Peters, Vice President and Corporate Controller of Cummins Inc. (CMI), was awarded 1,888 shares on March 1, 2026 (recorded as an acquisition at $0.00). On the same day 579 shares were disposed/withheld to satisfy tax liabilities at an effective price of $583.87 per share, resulting in proceeds of approximately $338,061 (tax withholding rather than an open-market sale).
Key Details
- Transaction dates: March 1, 2026; Form 4 filed March 3, 2026 (timely filing).
- Award/acquisition: 1,888 shares @ $0.00 (grant/award).
- Tax withholding/disposition: 579 shares @ $583.87 = ~$338,061 (code F — shares withheld to satisfy tax liabilities).
- Shares owned after transaction: not specified in the Form 4 filing.
- Footnotes of note:
- F1: 22.728 shares were previously acquired in exempt transactions under the employee stock purchase plan and dividend reinvestment program but were not previously reported on a Form 4.
- F2: Confirms the 579 shares were withheld to satisfy taxes on earned performance shares.
- F3: One reported share count is based on the dollar value of the reporting person's interest in the Cummins Stock Fund under the company 401(k); the fund is unitized (~98% stock / ~2% cash), so the exact share count is approximate.
Context
This was primarily an award of shares (not an open-market purchase or discretionary sale). The 579-share transaction reflects routine tax withholding tied to earned performance shares (common in equity compensation), which should not be read as a directional market bet by the insider.
Insider Transaction Report
- Award
Common
[F1]2026-03-01+1,888→ 9,604.171 total - Tax Payment
Common
[F2]2026-03-01$583.87/sh−579$338,061→ 9,025.171 total
- 578.492(indirect: By 401(k))
Common
[F3] - 2,665
Stock Option (Right-to-Buy)
Exercise: $142.12From: 2023-04-06Exp: 2030-04-06→ Common (2,665 underlying) - 3,125
Stock Option (Right-to-Buy)
Exercise: $149.72From: 2020-04-03Exp: 2027-04-03→ Common (3,125 underlying) - 2,175
Stock Option (Right-to-Buy)
Exercise: $160.10From: 2021-04-03Exp: 2028-04-03→ Common (2,175 underlying) - 3,085
Stock Option (Right-to-Buy)
Exercise: $163.43From: 2022-04-04Exp: 2029-04-04→ Common (3,085 underlying)
Footnotes (3)
- [F1]Reflects 22.728 shares that had been acquired in exempt transactions under an employee stock purchase plan and dividend reinvestment program but not previously reflected on a Form 4.
- [F2]Shares withheld to satisfy tax liabilities relating to earned performance shares.
- [F3]The number of shares is based on the dollar value of the reporting person's interest in the Cummins Stock Fund under the Company's 401(k) plan as most recently provided by the plan. The actual number of shares underlying the interest is not known since the Cummins Stock Fund is a unitized account consisting of approximately 98% common stock and 2% cash or cash equivalents.