RUMSEY JENNIFER 4
4 · CUMMINS INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Cummins CEO Jennifer Rumsey Receives Award, Sells 19,450 Shares
What Happened
- Jennifer Rumsey, Chair and CEO of Cummins Inc. (CMI), was granted 44,736 shares (award, code A) on 2026-03-01 at $0.00. To satisfy tax withholding on the award, 19,450 shares were disposed (code F) at $583.87 each, generating proceeds of $11,356,272. Net shares retained from this grant were 25,286 (44,736 granted minus 19,450 withheld).
Key Details
- Transaction dates and prices:
- 2026-03-01: Award of 44,736 shares @ $0.00 (acquired).
- 2026-03-01: 19,450 shares withheld/disposed @ $583.87 = $11,356,272 (tax withholding).
- Shares owned after transaction: Not specified in the excerpt of the filing provided.
- Footnotes:
- F1: Shares were withheld to satisfy tax liabilities relating to earned performance shares.
- F2: Notes the method for converting a 401(k) plan interest into a share count (Cummins Stock Fund is ~98% stock, ~2% cash); the actual share count for that holding is unitized and estimated.
- Timeliness: Reported on Form 4 filed 2026-03-03 for transactions on 2026-03-01 — appears to be filed timely.
Context
- This is a common "grant + sell-to-cover" transaction: the executive received performance shares and a portion was withheld/disposed to cover taxes rather than a separate open-market sale. Such withholding transactions are routine and reflect tax settlement, not necessarily a directional bet on the stock.
Insider Transaction Report
Form 4
CUMMINS INCCMI
RUMSEY JENNIFER
DirectorChair and CEO
Transactions
- Award
Common
2026-03-01+44,736→ 66,082 total - Tax Payment
Common
[F1]2026-03-01$583.87/sh−19,450$11,356,272→ 46,632 total
Holdings
- 1,523.756(indirect: By 401(k))
Common
[F2] - 7,967(indirect: GRAT)
Common
- 20,775(indirect: GRAT 2025)
Common
- 13,320
Stock Option (Right-to-Buy)
Exercise: $142.12From: 2023-04-06Exp: 2030-04-06→ Common (13,320 underlying) - 8,760
Stock Option (Right-to-Buy)
Exercise: $149.72From: 2020-04-03Exp: 2027-04-03→ Common (8,760 underlying) - 6,950
Stock Option (Right-to-Buy)
Exercise: $160.10From: 2021-04-03Exp: 2028-04-03→ Common (6,950 underlying) - 12,330
Stock Option (Right-to-Buy)
Exercise: $163.43From: 2022-04-04Exp: 2029-04-04→ Common (12,330 underlying) - 1,235
Stock Option (Right-to-Buy)
Exercise: $166.18From: 2022-10-16Exp: 2029-10-16→ Common (1,235 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.
Signature
/s/ Nicole Y. Lamb-Hale, Attorney-in-Fact|2026-03-03