Caterpillar executive exercises options, sells shares
Caterpillar Inc. Group President Denise C. Johnson reported a set of option-related and open-market transactions in Caterpillar common stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Caterpillar Inc. Group President Denise C. Johnson reported a set of option-related and open-market transactions in Caterpillar common stock. She exercised employee stock options covering 16,078 shares at $196.70 per share, with 3,473 shares disposed of to cover tax obligations. The remaining 12,605 shares from the exercise were sold in open-market trades at weighted-average prices generally between about $904 and $912 per share, executed in multiple smaller trades. After these transactions, Johnson directly owned 49,825 shares of Caterpillar common stock.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
11 txns
Insider
Johnson Denise C
Role
Group President
Sold
12,605 shs ($11.44M)
Approx. gross sale proceeds
$11.44M
Approx. exercise cost
$3.16M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Options | 16,078 | $196.70 | $3.16M |
| Exercise | Common Stock | 16,078 | $196.70 | $3.16M |
| Exercise Price or Tax Liability | Common Stock | 3,473 | $910.55 | $3.16M |
| Sale | Common Stock | 1,787 | $904.70 | $1.62M |
| Sale | Common Stock | 2,259 | $905.73 | $2.05M |
| Sale | Common Stock | 1,491 | $906.73 | $1.35M |
| Sale | Common Stock | 1,191 | $907.98 | $1.08M |
| Sale | Common Stock | 2,302 | $908.76 | $2.09M |
| Sale | Common Stock | 1,568 | $909.70 | $1.43M |
| Sale | Common Stock | 402 | $910.65 | $366K |
| Sale | Common Stock | 1,605 | $911.92 | $1.46M |
Holdings After Transaction:
Employee Stock Options — 0 contracts (Direct);
Common Stock — 49,825 shares (Direct)
Footnotes (9)
- F1. This transaction was executed in multiple trades at prices ranging from $904.25 to $905.22. 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.
- F2. This transaction was executed in multiple trades at prices ranging from $905.25 to $906.20. 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. This transaction was executed in multiple trades at prices ranging from $906.25 to $907.22. 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. This transaction was executed in multiple trades at prices ranging from $907.26 to $908.24. 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. This transaction was executed in multiple trades at prices ranging from $908.27 to $909.25. 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
- F6. This transaction was executed in multiple trades at prices ranging from $909.46 to $910.45. 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. This transaction was executed in multiple trades at prices ranging from $910.62 to $910.89. 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. This transaction was executed in multiple trades at prices ranging from $911.76 to $911.96. 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 stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 7, 2022 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date.
Key Figures
Shares sold: 12,605 shares
Option shares exercised: 16,078 shares
Tax-withholding shares: 3,473 shares
+4 more
7 metrics
Shares sold
12,605 shares
Open-market sales of Caterpillar common stock on 2026-05-14
Option shares exercised
16,078 shares
Employee stock options exercised at $196.70 per share
Tax-withholding shares
3,473 shares
Shares delivered to cover tax obligations on option exercise
Post-transaction holdings
49,825 shares
Direct Caterpillar common stock owned after transactions
Exercise price
$196.70 per share
Exercise price of employee stock options
Representative sale prices
$904.25–$911.96 per share
Weighted-average price ranges across multiple trade groups
Transaction codes
M, F, S
Option exercise, tax-withholding disposition, and open-market sales
Key Terms
Employee Stock Options, tax-withholding disposition, derivative exercise/conversion, weighted average sale price, +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.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
weighted average sale price financial
"The price reported above reflects the weighted average sale price."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Caterpillar (CAT) report for Denise C. Johnson?
Caterpillar Group President Denise C. Johnson exercised employee stock options for 16,078 shares and disposed of 3,473 shares for taxes, then sold 12,605 shares in open-market transactions. Following these trades, she directly held 49,825 Caterpillar common shares.
What option exercise did Caterpillar executive Denise C. Johnson report?
She exercised employee stock options for 16,078 shares of Caterpillar common stock at an exercise price of $196.70 per share. These options were granted under the Caterpillar Inc. 2014 Long-Term Incentive Plan and vest in three equal annual installments from the March 7, 2022 grant date.
What was the purpose of the Caterpillar (CAT) tax-withholding disposition in Denise C. Johnson’s Form 4?
The Form 4 shows a disposition of 3,473 Caterpillar shares coded as “F,” indicating shares were delivered to satisfy tax obligations related to the option exercise. This type of transaction covers tax liability and is not an open-market sale to third-party investors.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
Learn about SEC filing dates