Cummins (CMI) exec exercises 2,400 options, sells 1,450 shares

Cummins Inc. (CMI) reported an insider equity transaction by its V.P & President – Engine Business.

Rhea-AI Filing Summary

Cummins Inc. (CMI) reported an insider equity transaction by its V.P & President – Engine Business. On 11/25/2025, the executive exercised a stock option to acquire 2,400 shares of Cummins common stock at an exercise price of $142.12 per share, then sold 1,450 shares at a price of $489.32 per share.

After these transactions, the executive directly beneficially owned 9,271.498 shares of Cummins common stock and indirectly held an additional 116.08 shares through the company’s 401(k) plan, where the Cummins Stock Fund is described as approximately 98% common stock and 2% cash or cash equivalents.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Merritt Brett Michael

Role V.P & Pres. - Engine Business

Sold 1,450 shs ($710K)

Approx. gross sale proceeds $710K

Approx. exercise cost $341K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right-to-Buy)	2,400	$0.00	$0.00
Exercise	Common	2,400	$142.12	$341K
Sale	Common	1,450	$489.32	$710K
holding	Common	--	--	--

Holdings After Transaction: Stock Option (Right-to-Buy) — 0 contracts (Direct); Common — 9,271.498 shares (Direct); Common — 116.08 shares (Indirect, By 401(k) Plan)

Footnotes (1)

1. F1. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Cummins Inc. (CMI) disclose in this Form 4?

The filing shows that a Cummins executive exercised a stock option for 2,400 shares of common stock at $142.12 per share and sold 1,450 shares at $489.32 per share on 11/25/2025.

Who is the reporting person in this Cummins (CMI) Form 4 and what is their role?

The reporting person is an officer of Cummins Inc. with the title V.P & Pres. - Engine Business, indicating a senior leadership position in the company’s engine business.

How many Cummins (CMI) shares does the executive own after the reported transactions?

Following the reported transactions, the executive beneficially owned 9,271.498 shares of Cummins common stock directly and 116.08 shares indirectly through the company’s 401(k) plan.

What stock option activity was reported for Cummins (CMI)?

The executive exercised a stock option (right-to-buy) covering 2,400 shares of Cummins common stock at an exercise price of $142.12 per share. The option had an exercisable date of 04/06/2023 and an expiration date of 04/06/2030.

How is the Cummins Stock Fund in the 401(k) plan described in this Form 4?

The filing explains that the Cummins Stock Fund in the 401(k) plan is a unitized account consisting of approximately 98% common stock and 2% cash or cash equivalents, so the exact number of underlying shares is not precisely known.

Is this Cummins (CMI) Form 4 filed by one or multiple reporting persons?

The document states that the Form 4 is filed by one reporting person, indicating a single insider is reporting these transactions.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/25/2025 - 06:36 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^*

Merritt Brett Michael

(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)
	V.P & Pres. - Engine Business

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

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	11/25/2025		M		2,400	A	$142.12	10,721.498	D
Common	11/25/2025		S		1,450	D	$489.32	9,271.498	D
Common								116.08	I	By 401(k) Plan(1)

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)	$142.12	11/25/2025		M			2,400	04/06/2023	04/06/2030	Common	2,400	$0.0000	0.0000	D

Explanation of Responses:

1. 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	11/25/2025
	** 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.