[Form 4] Caterpillar Inc. Insider Trading Activity

Rhea-AI Filing Summary

Susan C. Schwab, a director of Caterpillar Inc. (CAT), reported a sale of 2,324 shares of Common Stock on 08/15/2025 at a reported price of $410 per share. After the sale she beneficially owned 6,917 shares. The Form 4 was signed by a power of attorney on 08/19/2025. The filing indicates a routine insider disposition by a reporting director and lists ownership as direct.

Positive

• None.

Negative

• Insider sale reported: Director sold 2,324 shares at $410, reducing direct holdings to 6,917 shares.

Insights

Corporate Governance Expert

TL;DR: A director executed a routine sale of common stock reducing direct holdings to 6,917 shares.

The reported transaction is a straightforward open-market sale by a director: 2,324 shares sold at $410 on 08/15/2025. The Form 4 shows direct ownership and the filing was executed via a power of attorney. This disclosure notifies investors of an insider liquidity event but provides no indication of change in board role, policy, or company fundamentals.

Securities Analyst

TL;DR: Insider sale of modest size relative to typical institutional holdings; disclosure is routine.

The sale is material for transparency but lacks context on size relative to total holdings or reason for sale. The Form 4 documents compliance with Section 16 reporting requirements and does not disclose derivative activity or additional transactions. From a market-impact perspective, this single-line disclosure is unlikely to be material absent other concurrent insider activity.

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
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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^*

SCHWAB SUSAN C

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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
Common Stock	08/15/2025		S		2,324	D	$410	6,917	D

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

Explanation of Responses:

	/s/ Nicole Puza, POA for Susan Schwab	08/19/2025
	** 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.

FAQ

What did the Form 4 for CAT report?

The Form 4 reports that director Susan C. Schwab sold 2,324 shares of Caterpillar common stock on 08/15/2025 at $410 per share and now beneficially owns 6,917 shares.

Who signed the Form 4 for Susan C. Schwab?

The Form 4 was signed by Nicole Puza, POA for Susan Schwab on 08/19/2025.

Does the filing show any derivative transactions for CAT by this reporting person?

No. The filing contains only a non-derivative transaction reporting the sale of common stock; Table II (derivatives) shows no entries.

Is the reported ownership direct or indirect?

The Form 4 indicates direct ownership following the reported transaction.

Was this Form 4 filed jointly or by one reporting person?

The form indicates it was filed by one reporting person.