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Caterpillar Chief Executive Increases Stake Through Deferred Compensation Program

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Caterpillar CEO Joseph E. Creed reported the acquisition of phantom stock units under the company's non-qualified deferred compensation plan on June 26, 2025. The transaction involved:

  • Acquisition of 39 phantom stock units at $381.88 per unit
  • 20 shares credited to account at $381.88 per share
  • 19 shares contributed at no cost per plan terms
  • Total beneficial ownership increased to 10,203 phantom stock units

The phantom stock units are equivalent to Caterpillar common stock and will be settled 100% in cash upon retirement or separation. The units are part of an unfunded unitized company stock fund that includes both stock and cash components, with quantities subject to change based on fund composition. The filing was signed by Nicole Puza as power of attorney for Creed on June 27, 2025.

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Insider Creed Joseph E
Role Chief Executive Officer
Type Security Shares Price Value
Grant/Award Phantom Stock Units 39 $381.88 $15K
Holdings After Transaction: Phantom Stock Units — 10,203 shares (Direct)
Footnotes (1)
  1. Each phantom stock unit under the company's non-qualified deferred compensation plan as reported is generally the economic equivalent of one share of Caterpillar Inc. common stock. This total includes 20 shares that were credited to the reporting person's account under the Supplemental Deferred Compensation Plan ("the Plan") at a price per share of $381.88 and 19 shares that were contributed to the reporting person's account pursuant to the terms of the Plan for no consideration. The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service. Includes adjustments for dividends accrued. Moreover, 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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Creed Joseph E
(Last) (First) (Middle)
5205 N. O'CONNOR BOULEVARD, SUITE 100
(Street)
IRVING TX 75039
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CATERPILLAR INC [ CAT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units (1) 06/26/2025 A 39(2) (3) (3) Common Stock 39 $381.88 10,203(4) D
Explanation of Responses:
1. Each phantom stock unit under the company's non-qualified deferred compensation plan as reported is generally the economic equivalent of one share of Caterpillar Inc. common stock.
2. This total includes 20 shares that were credited to the reporting person's account under the Supplemental Deferred Compensation Plan ("the Plan") at a price per share of $381.88 and 19 shares that were contributed to the reporting person's account pursuant to the terms of the Plan for no consideration.
3. The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service.
4. Includes adjustments for dividends accrued. Moreover, 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.
/s/ Nicole Puza, POA for Joseph E. Creed 06/27/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider trading activity occurred at CAT on June 26, 2025?

CEO Joseph E. Creed acquired 39 phantom stock units under Caterpillar's non-qualified deferred compensation plan. This included 20 shares credited at $381.88 per share and 19 shares contributed at no cost pursuant to the Plan terms.

How many phantom stock units does CAT's CEO Joseph Creed now own?

Following the reported transaction, CEO Joseph E. Creed owns 10,203 phantom stock units. This total includes adjustments for accrued dividends and represents interests in an unfunded unitized company stock fund.

What is the settlement terms for CAT CEO's phantom stock units?

The phantom stock units are to be settled for 100% in cash upon the reporting person's (CEO Joseph E. Creed's) retirement or separation from service from Caterpillar Inc.

What was the price of CAT phantom stock units in the June 2025 transaction?

The phantom stock units were acquired at $381.88 per share for 20 units, while 19 units were contributed at no cost under the terms of the Supplemental Deferred Compensation Plan.

Where is CAT's CEO Joseph Creed based?

According to the Form 4 filing, CEO Joseph E. Creed's business address is 5205 N. O'Connor Boulevard, Suite 100, Irving, TX 75039.