Gaidoo John O 4
4 · CUMMINS INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Cummins VP John Gaidoo Receives Award; Shares Withheld
What Happened John O. Gaidoo, Vice President and Chief Legal Officer of Cummins Inc. (CMI), was granted a total of 1,648 shares (1,296 + 352) as awards on 2026-03-01 (reported as acquisitions at $0.00). To satisfy tax liabilities on these earned performance shares, 510 shares (130 + 380) were withheld at an indicated value of $583.87 per share, totaling approximately $297,774. The withheld-share transactions are reported as disposals (code F) and reflect routine tax withholding rather than an open-market sale.
Key Details
- Transaction dates: March 1, 2026; Form 4 filed March 3, 2026 (timely within the 2-business-day rule).
- Awards: 1,296 and 352 shares reported as acquisitions (code A) at $0.00 (typical for vested/awarded shares).
- Withholding: 130 and 380 shares withheld (code F) at $583.87/share; total value withheld ≈ $297,774.
- Shares owned after transaction: Not specified in the filing.
- Footnotes: F1 — shares withheld to satisfy tax liabilities on earned performance shares. F2 — notes that one reported share count is based on the dollar value of the reporting person’s interest in the Cummins Stock Fund (401(k) unitized account ~98% stock / 2% cash), so the exact underlying share count is an estimate.
Context This filing documents awarded (vested) performance shares and routine tax withholding — a common administrative step when equity awards vest. The acquisitions (awards) are generally neutral-to-bullish signals (insider receiving shares), while the withheld disposals are routine and do not indicate a sale in the open market.
Insider Transaction Report
- Award
Common
2026-03-01+1,296→ 3,241.962 total - Award
Common
2026-03-01+352→ 3,593.962 total - Tax Payment
Common
[F1]2026-03-01$583.87/sh−130$75,903→ 3,463.962 total - Tax Payment
Common
[F1]2026-03-01$583.87/sh−380$221,871→ 3,083.962 total
- 36.264(indirect: By 401(k))
Common
[F2] - 750
Stock Option (Right-to-Buy)
Exercise: $142.12From: 2023-04-06Exp: 2030-04-06→ Common (750 underlying) - 190
Stock Option (Right-to-Buy)
Exercise: $149.72From: 2020-04-03Exp: 2027-04-03→ Common (190 underlying) - 430
Stock Option (Right-to-Buy)
Exercise: $160.10From: 2021-04-03Exp: 2028-04-03→ Common (430 underlying) - 860
Stock Option (Right-to-Buy)
Exercise: $163.43From: 2022-04-04Exp: 2029-04-04→ Common (860 underlying) - 860
Stock Option (Right-to-Buy)
Exercise: $207.04From: 2023-10-01Exp: 2030-10-01→ Common (860 underlying)
Footnotes (2)
- [F1]Shares withheld to satisfy tax liabilities relating to earned performance shares.
- [F2]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.