[Form 4] Cummins Inc. Insider Trading Activity

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

Securities Analyst

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.

Corporate Governance Expert

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.

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

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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^*

Enright Robert

(Last) (First) (Middle)

500 JACKSON STREET

(Street)

COLUMBUS IN 47201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CUMMINS INC [ CMI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP - Supply Chain

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		M		860	A	$163.43	1,815	D
Common	08/22/2025		M		750	A	$142.12	2,565	D
Common	08/22/2025		M		250	A	$241.8	2,815	D
Common	08/22/2025		S		1,860	D	$402.2635(1)	955	D
Common								2,686.48(2)	I	By 401(k) Plan

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
Stock Option (Right-to-Buy)	$163.43	08/22/2025		M			860	04/04/2022	04/04/2029	Common	860	$0.0000	0.0000	D
Stock Option (Right-to-Buy)	$142.12	08/22/2025		M			750	04/06/2023	04/06/2030	Common	750	$0.0000	0.0000	D
Stock Option (Right-to-Buy)	$241.8	08/22/2025		M			250	08/11/2021	08/11/2031	Common	250	$0.0000	0.0000	D

Explanation of Responses:

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.

2. 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.

	/s/ Nicole Y. Lamb-Hale, Attorney-in-Fact	08/26/2025
	** 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.
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FAQ

What insider transactions were reported for Cummins (CMI) on 08/22/2025?

Reporting person Robert Enright exercised options for 860, 750, and 250 shares and sold 1,860 shares at a weighted-average price of $402.2635.

How many Cummins shares does Robert Enright beneficially own after the reported trades?

He directly beneficially owns 2,815 shares and indirectly holds an interest equivalent to 2,686.48 shares via the company's 401(k) stock fund.

What were the exercise prices for the stock options exercised by the insider?

The exercised options had exercise prices of $163.43, $142.12, and $241.80 respectively.

What does the Form 4 say about the sale price range for the sold shares?

The filer reports a weighted-average sale price of $402.2635 and discloses individual sale prices ranged from $402.19 to $402.28.

Why is the exact number of 401(k) shares unknown?

The Cummins Stock Fund is a unitized account (~98% common stock and ~2% cash), so the filing reports dollar value converted to an approximate share equivalent.