Caterpillar (CAT) exec exercises 20,000 options, sells 14,638 shs

Caterpillar Inc. (CAT) executive Bob De Lange filed a Form 4 reporting equity transactions.

Rhea-AI Filing Summary

Caterpillar Inc. (CAT) executive Bob De Lange filed a Form 4 reporting equity transactions. On 11/05/2025, he exercised 20,000 employee stock options at an exercise price of $151.12 per share. He then reported a sale of 14,638 shares of common stock at a weighted average price of $562.36, with trades executed between $562.32 and $562.75. The filing also shows 5,362 shares disposed to cover taxes at a price of $563.66.

Following these transactions, De Lange beneficially owned 80,209 shares of Caterpillar common stock directly. He also reported 20,512 derivative securities (stock options) beneficially owned after the transactions. The exercised options were granted under the Caterpillar Inc. 2014 Long‑Term Incentive Plan on March 5, 2018 and vest in equal thirds on the first three anniversaries of the grant date.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider De Lange Bob

Role Group President

Sold 14,638 shs ($8.23M)

Approx. gross sale proceeds $8.23M

Approx. exercise cost $3.02M

Type	Security	Shares	Price	Value
Exercise	Employee Stock Options	20,000	$151.12	$3.02M
Exercise	Common Stock	20,000	$151.12	$3.02M
Exercise Price or Tax Liability	Common Stock	5,362	$563.66	$3.02M
Sale	Common Stock	14,638	$562.36	$8.23M

Holdings After Transaction: Employee Stock Options — 20,512 contracts (Direct); Common Stock — 80,209 shares (Direct)

Footnotes (3)

1. F1. Includes adjustments for dividends accrued.
2. F2. This transaction was executed in multiple trades at prices ranging from $562.32 to $562.75. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of 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.
3. F3. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 5, 2018 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date.

FAQ

What insider transactions did CAT's Bob De Lange report?

He exercised 20,000 stock options at $151.12, sold 14,638 shares at a weighted average of $562.36, and disposed 5,362 shares for taxes at $563.66 on 11/05/2025.

How many CAT shares does Bob De Lange own after these transactions?

He beneficially owned 80,209 shares of Caterpillar common stock directly after the reported transactions.

What is the status of Bob De Lange’s Caterpillar stock options?

After the transactions, he beneficially owned 20,512 derivative securities (stock options). The exercised options had an exercise price of $151.12 and an expiration of 03/05/2028.

What was the price range for the CAT share sale reported?

The sale’s weighted average price was $562.36, with trades executed between $562.32 and $562.75.

What role does Bob De Lange hold at Caterpillar (CAT)?

He is an Officer serving as Group President of Caterpillar Inc.

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Accepted by SEC EDGAR 11/07/2025 - 02:09 PM Learn about SEC filing dates

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^*

De Lange Bob

(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)
	Group President

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2025

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	11/05/2025		M		20,000	A	$151.12	100,209(1)	D
Common Stock	11/05/2025		F		5,362	D	$563.66	94,847	D
Common Stock	11/05/2025		S		14,638	D	$562.36(2)	80,209	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
Employee Stock Options	$151.12	11/05/2025		M			20,000	(3)	03/05/2028	Common Stock	20,000	$151.12	20,512	D

Explanation of Responses:

1. Includes adjustments for dividends accrued.

2. This transaction was executed in multiple trades at prices ranging from $562.32 to $562.75. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of 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.

3. The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 5, 2018 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date.

	/s/ Nicole Puza, POA for Bob De Lange	11/07/2025
	** 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.