Merritt Brett Michael 4

What Happened
Merritt Brett Michael, Vice President & President — Engine Business at Cummins, was granted 2,832 performance shares on 2026-03-01 (award, code A). To satisfy tax withholding related to those earned performance shares, 998 of the shares were withheld (code F) at an implied price of $583.87 per share, producing proceeds of $582,702. Net issued shares to the insider after withholding were 1,834 (2,832 awarded minus 998 withheld).

Key Details

• Transaction date: 2026-03-01; Form 4 filed 2026-03-03 (timely filing).
• Award: 2,832 shares granted at $0.00 (performance share award).
• Withholding for taxes: 998 shares withheld/disposed at $583.87 each; total value $582,702.
• Shares owned after transaction: not reported on the provided data.
• Footnotes: F1 — shares withheld to satisfy tax liabilities on earned performance shares; F2 — references unitized Cummins Stock Fund valuation for 401(k) holdings (actual underlying share count not precisely known).
• Transaction codes: A = Award/Grant, F = Tax withholding.

Context
This was an equity award with shares withheld to cover tax obligations — a routine, non–open-market disposition commonly used to satisfy tax withholding rather than a market sale. Such awards increase executive equity compensation but the withholding reduces the net shares actually issued. No implication about trading intent should be inferred from a tax-withholding transaction.