PACCAR (PCAR) Director Sreeganesh Ramaswamy Receives Phantom Stock Units

What Happened

• Sreeganesh Ramaswamy, a non‑employee director of PACCAR (PCAR), was credited with two acquisitions of deferred/phantom stock units on Sep 2, 2026. The filings show 31.148 units at $122.13 each ($3,804) and 38.629 units at $122.13 each ($4,718), totaling 69.777 units worth approximately $8,522. This is an acquisition of deferred stock units (not an open‑market purchase of common shares).

Key Details

• Transaction date and price: Sep 2, 2026 — 31.148 units @ $122.13 ($3,804) and 38.629 units @ $122.13 ($4,718).
• Transaction code: “J” (other acquisition/disposition of derivative securities); these are derivative stock units, not current tradable shares.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: units are held in PACCAR’s Restricted Stock and Deferred Compensation Plan for non‑Employee Directors (RSDCP) and convert 1-for-1 to PACCAR common stock upon termination of director status or satisfaction of vesting conditions (F1, F3). Dividends on these units are reinvested into additional units per the plan (F2, F4).
• Filing timeliness: Form 4 was filed 2026-09-03 for transactions on 2026-09-02 (appears timely under Form 4 rules).

Context

• These are deferred/phantom stock units credited under the directors’ deferred compensation/restricted stock plan. They are not immediately tradable shares; conversion to actual common stock depends on plan terms (termination or vesting). Such awards are routine for directors and represent compensation rather than an open‑market investment by the insider.