Caterpillar (CAT) CFO Kyle Epley details stock, options and phantom units
Rhea-AI Filing Summary
Caterpillar Inc.’s new Chief Financial Officer Kyle Joseph Epley reported his initial ownership in a Form 3 filing. He holds 15,973 shares of Caterpillar common stock directly and 3,186 shares indirectly through a 401(k) plan as of the reported dates.
Epley also holds 5,889 phantom stock units under a supplemental deferred compensation plan, which are generally equivalent to the same number of Caterpillar shares but will be settled entirely in cash at retirement or separation. In addition, he has multiple employee stock option grants covering tens of thousands of underlying shares with exercise prices ranging from $127.60 to $752.18 and expirations between 2030 and 2036, granted under the company’s long‑term incentive plans.
Positive
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Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Epley Kyle Joseph
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Options | -- | -- | -- |
| holding | Employee Stock Options | -- | -- | -- |
| holding | Employee Stock Options | -- | -- | -- |
| holding | Employee Stock Options | -- | -- | -- |
| holding | Employee Stock Options | -- | -- | -- |
| holding | Employee Stock Options | -- | -- | -- |
| holding | Employee Stock Options | -- | -- | -- |
| holding | Phantom Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Options — 13,472 shares (Direct);
Phantom Stock Units — 5,889 shares (Direct);
Common Stock — 15,973 shares (Direct);
Common Stock — 3,186 shares (Indirect, Held by 401(k) Plan)
Footnotes (1)
- The information in this report is based on a 401(k) plan statement dated as of March 31, 2026. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on 03/02/2020 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on 03/01/2021 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on 03/07/2022 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on 03/06/2023 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The stock options were granted pursuant to the Caterpillar Inc. 2023 Long-Term Incentive Plan on 03/04/2024 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The stock options were granted pursuant to the Caterpillar Inc. 2023 Long-Term Incentive Plan on 03/03/2025 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The stock options were granted pursuant to the Caterpillar Inc. 2023 Long-Term Incentive Plan on 03/02/2026 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date. The phantom stock units were acquired under the Caterpillar Inc. Supplemental Deferred Compensation Plan and are to be settled 100% in cash upon the reporting person's retirement or separation from service. Each phantom stock unit under the company's non-qualified deferred compensation plans as reported is generally equivalent to one share of Caterpillar Inc. common stock. Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash, and therefore the number of phantom stock units the reporting person is deemed to own may change between any given dates due to differences in the percentages of cash and stock in the unitized fund on those dates.
Key Figures
Direct common stock: 15,973 shares
401(k) plan holdings: 3,186 shares
Phantom stock units: 5,889 units
+4 more
7 metrics
Direct common stock
15,973 shares
Total shares directly held following transactions
401(k) plan holdings
3,186 shares
Indirect Caterpillar common stock via 401(k) as of March 31, 2026
Phantom stock units
5,889 units
Units under Supplemental Deferred Compensation Plan, cash-settled at separation
Options @ $752.18
1,564 underlying shares
Employee stock options expiring March 2, 2036
Options @ $332.04
1,996 underlying shares
Employee stock options expiring March 3, 2035
Options @ $338.65
2,158 underlying shares
Employee stock options expiring March 4, 2034
Options @ $127.60
13,472 underlying shares
Employee stock options expiring March 2, 2030
Key Terms
Phantom Stock Units, Supplemental Deferred Compensation Plan, Long-Term Incentive Plan, non-qualified deferred compensation plans, +1 more
5 terms
Phantom Stock Units financial
"The phantom stock units were acquired under the Caterpillar Inc. Supplemental Deferred Compensation Plan"
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Supplemental Deferred Compensation Plan financial
"acquired under the Caterpillar Inc. Supplemental Deferred Compensation Plan and are to be settled 100% in cash"
Long-Term Incentive Plan financial
"The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
non-qualified deferred compensation plans financial
"Each phantom stock unit under the company's non-qualified deferred compensation plans as reported is generally equivalent"
Non-qualified deferred compensation plans are agreements that let employees or executives postpone receiving part of their pay, bonuses, or stock awards until a future date, such as retirement or a specified milestone. They matter to investors because these promises are unsecured company obligations—like an internal IOU—so they affect a firm’s future cash needs, reflect executive incentives, and can be at risk if the company faces financial trouble.
unitized company stock fund financial
"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does Caterpillar (CAT) CFO Kyle Epley’s Form 3 filing show?
The Form 3 shows Kyle Epley’s initial ownership in Caterpillar securities as CFO, including directly held common shares, 401(k) plan shares, phantom stock units, and several employee stock option grants issued under Caterpillar’s long-term incentive and deferred compensation plans.
What are the phantom stock units reported by Caterpillar (CAT) CFO Kyle Epley?
Epley reported 5,889 phantom stock units under Caterpillar’s Supplemental Deferred Compensation Plan. Each unit is generally equivalent to one Caterpillar share, but these units are unfunded and will be settled 100% in cash upon his retirement or separation from service.
What stock options does Caterpillar (CAT) CFO Kyle Epley currently hold?
He holds multiple employee stock option grants under Caterpillar’s 2014 and 2023 Long-Term Incentive Plans, with exercise prices from $127.60 to $752.18 and expiration dates between 2030 and 2036, each tied to specific annual grant dates and three-year vesting schedules.
How do Caterpillar (CAT) CFO Kyle Epley’s stock options vest over time?
Each stock option grant vests in equal one‑third increments on the first, second, and third anniversaries of its grant date, according to the footnotes. This schedule applies to grants made between March 2, 2020, and March 2, 2026, under Caterpillar’s long‑term incentive plans.