Cummins (CMI) VP Benjamin Wright receives stock grant, with tax share withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cummins Inc. vice president Benjamin G. Wright reported equity-related transactions in company common stock. He received a grant of 1,648 shares at no cost, increasing his direct holdings, and had 559 shares withheld to satisfy tax liabilities on earned performance shares. After these transactions, he directly holds 3,977 common shares and also has an indirect interest through the company 401(k) plan, where his balance is represented by units in a fund primarily invested in Cummins stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Wright Benjamin G.
Role
VP and President Dist Business
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common | 1,648 | $0.00 | -- |
| Tax Withholding | Common | 559 | $583.87 | $326K |
| holding | Common | -- | -- | -- |
Holdings After Transaction:
Common — 4,536 shares (Direct);
Common — 833.507 shares (Indirect, By 401(k) Plan)
Footnotes (1)
- Shares withheld to satisfy tax liabilities relating to earned performance shares. 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
What insider transactions did Cummins (CMI) executive Benjamin G. Wright report?
Benjamin G. Wright reported receiving a grant of 1,648 Cummins common shares and a disposition of 559 shares withheld for taxes. These transactions relate to earned performance shares and do not represent an open-market purchase or sale of stock.
What does the Cummins (CMI) Form 4 say about Wright’s 401(k) holdings?
The Form 4 notes Wright’s interest in a Cummins Stock Fund within the 401(k) plan, shown as 833.5068 units. The footnote explains the fund is about 98% Cummins common stock and 2% cash, so the exact underlying share count is not known.
What transaction codes appear on Benjamin G. Wright’s Cummins (CMI) Form 4?
The Form 4 lists code A for a grant, award, or other acquisition of 1,648 common shares, and code F for 559 shares withheld to cover tax liabilities. An additional entry reflects indirect 401(k) plan holdings without a specific transaction code.
Does the Cummins (CMI) Form 4 indicate net buying or selling by Benjamin G. Wright?
The filing shows both acquisition and disposition activity, but the acquisition is an equity grant and the disposition is tax withholding. There is no open-market buy or sell; the overall effect is a net increase in his directly held Cummins shares.