CMI Form 4: VP Robert Enright Exercises Options and Sells Shares
Rhea-AI Filing Summary
Cummins Inc. reporting person Robert Enright, Vice President — Supply Chain and director, reported multiple option exercises and related transactions on 08/22/2025. He exercised stock options for 860, 750, and 250 shares at exercise prices of $163.43, $142.12, and $241.80 respectively, resulting in acquisition of those common shares. On the same date he sold 1,860 shares at a weighted-average price of $402.2635. After these transactions he directly beneficially owned 2,815 shares and indirectly held an interest equivalent to 2,686.48 shares via the company 401(k) stock fund.
Positive
- Option exercises completed, converting vested awards into common shares (860, 750, 250 shares).
- Detailed disclosure provided for weighted-average sale price and 401(k) fund composition (approx. 98% stock).
Negative
- Sale of 1,860 shares on 08/22/2025 at a weighted-average price of $402.2635, reducing direct holdings.
- Exact share count underlying the 401(k) interest is not known due to unitized fund structure.
Insights
TL;DR Insider exercised multiple options, sold a portion of shares; transactions appear routine rather than material.
These filings show option exercises executed the same day as a partial sale of resulting shares. The sale of 1,860 shares at a weighted-average price of $402.2635 generated proceeds but represents a modest position relative to a large-cap issuer. The remaining direct ownership is 2,815 shares and an indirect 401(k) interest of 2,686.48 shares. There is no indication of additional material events or changes in control.
TL;DR Transactions reflect typical option exercises and plan-related holdings; disclosure is compliant and transparent.
The reporting includes clear exercise prices, grant dates, and that the 401(k) holding is unitized (approx. 98% stock). The filer discloses the weighted-average sale price range and offers to provide tranche-level details on request, which aligns with best-practice transparency for insider reporting.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right-to-Buy) | 860 | $0.00 | -- |
| Exercise | Stock Option (Right-to-Buy) | 750 | $0.00 | -- |
| Exercise | Stock Option (Right-to-Buy) | 250 | $0.00 | -- |
| Exercise | Common | 860 | $163.43 | $141K |
| Exercise | Common | 750 | $142.12 | $107K |
| Exercise | Common | 250 | $241.80 | $60K |
| Sale | Common | 1,860 | $402.2635 | $748K |
| holding | Common | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $402.19 - $402.28. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated. The number of shares is based on the dollar value of the reporting person's interest in the Cummins Stock Fund under the Company's 401(k) plan as most recently provided by the plan. The actual number of shares underlying the interest is not known since the Cummins Stock Fund is a unitized account consisting of approximately 98% common stock and 2% cash or cash equivalents.
