Cummins (CMI) Insider File: 1,580 Shares From Option Exercise to Be Sold

Rhea-AI Filing Summary

CUMMINS INC (CMI) reported a proposed sale of 1,580 common shares via Rule 144 to be executed through Morgan Stanley Smith Barney on 09/17/2025, with an aggregate market value of $656,395.20. The filing shows these shares were acquired and paid for on 09/17/2025 through the exercise of stock options and paid in cash.

The filer discloses there are 137,786,038 shares outstanding for the class. The notice also lists prior 10b5-1 sales by Mark A. Smith totaling 20,000 shares across dates in August and September 2025 with gross proceeds shown for each trade, indicating recent systematic insider selling activity.

Positive

• Transparency: The filing provides specific transaction details including shares, acquisition method, payment type, and broker.
• Planned sales disclosed: Prior 10b5-1 trades are listed, indicating sales were executed under documented trading plans.

Negative

• Insider selling activity: Multiple 10b5-1 sales totaling 20,000 shares in Aug–Sep 2025 may concern some investors seeking insider accumulation.

Insights

Securities Compliance Analyst

TL;DR Insider intends to sell a small block of shares acquired by option exercise; prior 10b5-1 trades show ongoing planned dispositions.

The filing documents a proposed Rule 144 sale of 1,580 shares acquired the same day by option exercise and paid in cash, routed through Morgan Stanley Smith Barney. The filing confirms the issuer's outstanding share count of 137,786,038, which provides context that the block represents a de minimis percentage of the class. The inclusion of multiple prior 10b5-1 sales by Mark A. Smith totaling 20,000 shares over recent months signals reliance on prearranged plans for earlier dispositions rather than ad hoc sales.

Corporate Insider Transactions Specialist

TL;DR Transaction is routine option exercise followed by planned sale; materiality to shareholders appears limited given outstanding shares.

The notice indicates the securities were acquired via option exercise and are to be sold immediately under Rule 144, with cash payment recorded. The aggregate market value disclosed is $656,395.20. Recent listed 10b5-1 sales by an insider show multi-date executions and cumulative gross proceeds reported for each trade, consistent with systematic liquidity events rather than one-off dispositions. Based on the disclosed outstanding share base, the announced sale is not materially dilutive.

09/17/2025 - 04:26 PM

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
COMMON	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	1580	656395.20	137786038	09/17/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/17/2025	Exercise of Stock Options	Issuer			1580	09/17/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for MARK A. SMITH 500 Jackson Street Columbus IN 47202	COMMON	09/16/2025	2671	1108465.00
10b5-1 Sales for MARK A. SMITH 500 Jackson Street Columbus IN 47202	COMMON	09/15/2025	4829	2004304.46
10b5-1 Sales for MARK A. SMITH 500 Jackson Street Columbus IN 47202	COMMON	08/13/2025	6500	2632500.00
10b5-1 Sales for MARK A. SMITH 500 Jackson Street Columbus IN 47202	COMMON	08/12/2025	6000	2370000.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did the Form 144 filed for CMI disclose?

The filing discloses a proposed sale of 1,580 common shares with aggregate market value $656,395.20 to be sold on 09/17/2025 through Morgan Stanley Smith Barney.

How were the 1,580 CMI shares acquired?

The shares were acquired on 09/17/2025 by exercise of stock options and payment was made in cash on the same date.

How many CMI shares are outstanding according to the filing?

The filing reports 137,786,038 shares outstanding for the class of common stock.

Does the filing show recent insider sales for CMI?

Yes; the filing lists 10b5-1 sales by Mark A. Smith totaling 20,000 shares on multiple dates in Aug–Sep 2025 with reported gross proceeds per trade.

Which broker is handling the proposed sale?

The broker named is Morgan Stanley Smith Barney LLC, Executive Financial Services, New York.