Caterpillar (NYSE: CAT) exec granted 11 phantom stock units
Rhea-AI Filing Summary
CATERPILLAR INC (CAT) reported that Group President Jason Kaiser acquired 11 Phantom Stock Units tied to Caterpillar common stock under a non-qualified deferred compensation plan. Of these, 6 units were credited at $821.93 per unit and 5 units were contributed with no consideration. These phantom units are economically equivalent to common shares but will be settled 100% in cash upon retirement or separation from service. Following this grant, Kaiser holds 5,476 Phantom Stock Units, which include adjustments for dividends within a unitized company stock fund of stock and cash.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Kaiser Jason
Role
Group President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units F1, F2, F3, F4 | 11 | $821.93 | $9K |
Holdings After Transaction:
Phantom Stock Units — 5,476 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") 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 acquired: 11 units
Price per unit for credited shares: $821.93 per unit
Units credited at price: 6 units
+2 more
5 metrics
Phantom Stock Units acquired
11 units
Grant/award acquisition on 2026-08-26
Price per unit for credited shares
$821.93 per unit
6 units credited under the Supplemental Deferred Compensation Plan
Units credited at price
6 units
Credited to account at $821.93 per unit
Units contributed for no consideration
5 units
Contributed under the Plan with no consideration
Total Phantom Stock Units after transaction
5,476 units
Holdings following the 11-unit acquisition
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 did CAT executive Jason Kaiser report in this Form 4?
He reported an acquisition of 11 Phantom Stock Units linked to Caterpillar common stock under a non-qualified deferred compensation plan, bringing his total holdings in these units to 5,476 as of the reported transaction date.
What is the value basis of the new Phantom Stock Units reported for CAT?
Of the 11 Phantom Stock Units, 6 units were credited to Jason Kaiser at a price of $821.93 per unit, and 5 units were contributed to his account for no consideration under the Supplemental Deferred Compensation Plan.
How are Caterpillar (CAT) Phantom Stock Units economically structured?
Each Phantom Stock Unit is stated to be generally the economic equivalent of one share of Caterpillar Inc. common stock, representing interests in an unfunded unitized company stock fund comprised of stock and cash.
When will Jason Kaiser’s CAT Phantom Stock Units be settled?
The Phantom Stock Units are to be settled 100% in cash upon Jason Kaiser’s retirement or separation from service, rather than being settled in actual shares of Caterpillar stock.
Why can the number of CAT Phantom Stock Units change over time?
The filing states that the Phantom Stock Units include adjustments for dividends and represent interests in a unitized company stock fund of stock and cash, so the deemed number of units may change as the fund’s cash/stock mix changes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
