Caterpillar CEO sells 32K shares after option exercise
Rhea-AI Filing Summary
CATERPILLAR INC (CAT) reported insider equity transactions by Chief Executive Officer Joseph E. Creed on August 28, 2026. Creed exercised 44,403 employee stock options at an exercise price of $219.76 per share, receiving the same number of Caterpillar common shares. The options were granted under the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 1, 2021 and vest in three equal annual installments.
In connection with the exercise, 12,002 shares of common stock were delivered or withheld to pay the exercise price or tax liability. Creed also executed multiple open-market sales totaling 32,401 shares of common stock at weighted average prices generally between $799.67 and $813.86 per share, with each sale reported in price ranges via footnotes. Following these transactions, he continued to have 11,839 shares of Caterpillar common stock held indirectly through a 401(k) plan as of July 31, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
18 txns
Insider
Creed Joseph E
Role
Chief Executive Officer
Sold
32,401 shs ($26.21M)
Approx. gross sale proceeds
$26.21M
Approx. exercise cost
$9.76M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock options F17 | 44,403 | $219.76 | $9.76M |
| Exercise | Common Stock F1 | 44,403 | $219.76 | $9.76M |
| Exercise Price or Tax Liability | Common Stock | 12,002 | $812.98 | $9.76M |
| Sale | Common Stock F2 | 480 | $800.19 | $384K |
| Sale | Common Stock F3 | 540 | $801.10 | $433K |
| Sale | Common Stock F4 | 280 | $802.10 | $225K |
| Sale | Common Stock F5 | 750 | $803.39 | $603K |
| Sale | Common Stock F6 | 520 | $803.86 | $418K |
| Sale | Common Stock F7 | 1,351 | $805.36 | $1.09M |
| Sale | Common Stock F8 | 3,382 | $806.31 | $2.73M |
| Sale | Common Stock F9 | 6,135 | $807.41 | $4.95M |
| Sale | Common Stock F10 | 2,639 | $808.20 | $2.13M |
| Sale | Common Stock F11 | 2,137 | $809.08 | $1.73M |
| Sale | Common Stock F12 | 3,041 | $810.31 | $2.46M |
| Sale | Common Stock F13 | 5,035 | $811.31 | $4.08M |
| Sale | Common Stock F14 | 1,280 | $812.09 | $1.04M |
| Sale | Common Stock F15 | 4,831 | $813.72 | $3.93M |
| holding | Common Stock F16 | -- | -- | -- |
Holdings After Transaction:
Employee Stock options — 0 shares (Direct);
Common Stock — 34,555 shares (Direct);
Common Stock — 11,839 shares (Indirect, Held by 401(k) Plan)
Footnotes (17)
- F1. This transaction includes dividends accrued.
- F2. The transaction was executed in multiple trades at prices ranging from $799.67 to $800.63. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F3. The transaction was executed in multiple trades at prices ranging from $800.68 to $801.53. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4. The transaction was executed in multiple trades at prices ranging from $801.68 to $802.25. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F5. The transaction was executed in multiple trades at prices ranging from $802.72 to $803.66. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F6. The transaction was executed in multiple trades at prices ranging from $803.73 to $804.19. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F7. The transaction was executed in multiple trades at prices ranging from $804.78 to $805.75. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F8. The transaction was executed in multiple trades at prices ranging from $805.80 to $806.79. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F9. The transaction was executed in multiple trades at prices ranging from $806.85 to $807.83. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F10. The transaction was executed in multiple trades at prices ranging from $807.87 to $808.76. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F11. The transaction was executed in multiple trades at prices ranging from $808.81 to $809.59. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F12. The transaction was executed in multiple trades at prices ranging from $809.81 to $810.79. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F13. The transaction was executed in multiple trades at prices ranging from $810.81 to $811.73. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F14. The transaction was executed in multiple trades at prices ranging from $811.82 to $812.49. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F15. The transaction was executed in multiple trades at prices ranging from $813.23 to $813.86. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F16. The information in this report is based on a 401(k) plan statement dated as of July 31, 2026.
- F17. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 1, 2021 and vest equally in 1/3 increments in the first, second and third anniversaries of the grant date.
Key Figures
Stock options exercised: 44,403 shares
Option exercise price: $219.76 per share
Shares delivered/withheld for exercise price or tax liability: 12,002 shares at $812.98 per share
+5 more
8 metrics
Stock options exercised
44,403 shares
Employee stock options converted into Caterpillar common stock on August 28, 2026
Option exercise price
$219.76 per share
Exercise price for 44,403 employee stock options
Shares delivered/withheld for exercise price or tax liability
12,002 shares at $812.98 per share
Code F transaction tied to the August 28, 2026 option exercise
Shares sold
32,401 shares
Total Caterpillar common shares sold in multiple trades on August 28, 2026
Sale price ranges
$799.67 to $813.86 per share
Price ranges for the reported open-market sales, per footnotes F2–F15
Indirect 401(k) holdings
11,839 shares
Caterpillar common stock held in a 401(k) plan as of July 31, 2026
Option grant date
March 1, 2021
Grant date of stock options exercised, under 2014 Long-Term Incentive Plan
Option expiration date
March 1, 2031
Expiration for the employee stock options that were exercised
Key Terms
Employee Stock options, Long-Term Incentive Plan, weighted average sale price, 401(k) plan, +1 more
5 terms
Employee Stock options financial
"security_title": "Employee Stock options""
Employee stock options are contracts that give workers the right to buy a company's shares at a set price sometime in the future, like a coupon that lets you purchase stock at today’s price later on. Investors care because they align employees’ incentives with company performance and create a potential future claim on shares that can reduce existing owners’ percentage and add to a company’s reported compensation costs.
Long-Term Incentive Plan financial
"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.
weighted average sale price financial
"The price reported above reflects the weighted average sale price."
401(k) plan financial
"based on a 401(k) plan statement dated as of July 31, 2026."
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
vest equally in 1/3 increments financial
"and vest equally in 1/3 increments in the first, second and third"
FAQ
What did Caterpillar (CAT) CEO Joseph E. Creed do in this Form 4 filing?
Joseph E. Creed exercised 44,403 stock options at $219.76 per share, had 12,002 shares delivered or withheld to cover exercise price or tax liability, and sold 32,401 shares of Caterpillar common stock in multiple open-market transactions on August 28, 2026.
How many Caterpillar (CAT) stock options did the CEO exercise and at what price?
He exercised 44,403 employee stock options into Caterpillar common stock at an exercise price of $219.76 per share. These options were granted on March 1, 2021 under the Caterpillar Inc. 2014 Long-Term Incentive Plan and vest in three equal annual installments.
What does the code F transaction mean in this Caterpillar (CAT) Form 4?
The code F transaction shows 12,002 Caterpillar shares were delivered or withheld at $812.98 per share for payment of the stock option exercise price or related tax liability, in connection with the August 28, 2026 option exercise.
When do the exercised Caterpillar (CAT) stock options expire?
The exercised employee stock options reported in this Form 4 are shown with an expiration date of March 1, 2031, and were originally granted on March 1, 2021 under the Caterpillar Inc. 2014 Long-Term Incentive Plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
