Caterpillar (NYSE: CAT) CFO gets two phantom stock grants
Rhea-AI Filing Summary
CATERPILLAR INC (CAT) reported that its Chief Financial Officer received grants of phantom stock units under company deferred compensation plans. On 2026-08-26, the reporting person acquired 11 phantom stock units and a separate award of 7 phantom stock units, each economically equivalent to one share of Caterpillar common stock. Some units reflect excess contributions credited at $821.93 per unit and others were contributed under plan terms for no consideration. These phantom units are settled 100% in cash upon retirement or separation, and their deemed number may vary over time because they represent interests in a unitized company stock fund with both stock and cash.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Epley Kyle Joseph
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units F1, F2, F3, F4 | 11 | $821.93 | $9K |
| Grant/Award | Phantom Stock Units F1, F3, F4 | 7 | $821.93 | $6K |
Holdings After Transaction:
Phantom Stock Units — 5,869 shares (Direct)
Footnotes (4)
- F1. 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.
- F2. This total includes 6 shares that were credited to the reporting person's account under the Supplemental Deferred Compensation Plan ("the Plan") as a result of excess contributions at a price per share of $821.93 and 5 shares that were contributed to the reporting person's account pursuant to the terms of the Plan for no consideration.
- F3. The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service.
- F4. 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.
Key Figures
Phantom stock units granted: 11.0000 units
Additional phantom stock units granted: 7.0000 units
Price per phantom stock unit for excess contributions: $821.93 per unit
+2 more
5 metrics
Phantom stock units granted
11.0000 units
Phantom stock units acquired on 2026-08-26 in one award
Additional phantom stock units granted
7.0000 units
Phantom stock units acquired on 2026-08-26 in a separate award
Price per phantom stock unit for excess contributions
$821.93 per unit
6 units credited under the Supplemental Deferred Compensation Plan
Settlement form
100% in cash
Settlement of phantom stock units upon retirement or separation from service
Units contributed for no consideration
5 units
Contributed to the reporting person’s account under plan terms
Key Terms
Phantom Stock Units, non-qualified deferred compensation plan, Supplemental Deferred Compensation Plan, unitized company stock fund
4 terms
Phantom Stock Units financial
"Each phantom stock unit under the company's non-qualified 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.
non-qualified deferred compensation plan financial
"under the company's non-qualified deferred compensation plan as reported"
An arrangement where an employer agrees to pay part of an employee’s salary or bonus at a later date, often to attract or keep key staff. Think of it as a company IOU or a delayed paycheck held on the company’s books rather than in a protected retirement account; investors care because these promises create future cash obligations that are typically unsecured and depend on the company’s financial health, affecting risk, liabilities, and cash-flow planning.
Supplemental Deferred Compensation Plan financial
"credited to the reporting person's account under the Supplemental Deferred Compensation Plan"
unitized company stock fund financial
"phantom stock units represent interests in an unfunded unitized company stock fund"
FAQ
What insider transaction did CAT disclose for its CFO in this Form 4?
CAT disclosed that its Chief Financial Officer received two grants of phantom stock units on 2026-08-26, one for 11 units and another for 7 units, under the company’s deferred compensation plans.
How are the CAT phantom stock units valued for the CFO’s Form 4 grants?
Each phantom stock unit is generally the economic equivalent of one share of Caterpillar common stock. For one grant, 6 units were credited at $821.93 per unit due to excess contributions, and 5 units were contributed for no consideration under plan terms.
When will the CAT phantom stock units be settled for the CFO?
The phantom stock units reported for CAT’s Chief Financial Officer are to be settled 100% in cash upon the reporting person’s retirement or separation from service, according to the plan terms.
Does this CAT Form 4 involve open-market buying or selling of common stock?
No. The Form 4 reports phantom stock unit awards under non-qualified deferred compensation plans, not open-market purchases or sales of Caterpillar common stock, and they will be cash-settled in the future.
Can the number of CAT phantom stock units reported for the CFO change over time?
Yes. The filing states the phantom stock units represent interests in an unfunded unitized company stock fund of stock and cash, so the deemed number of units may change as the mix of cash and stock in that fund changes and dividends accrue.
AI-generated analysis. How Rhea-AI works. Not financial advice.
