CMI Insider Sale: Jennifer Bush Disposes 520 Shares; Options Still Held

Rhea-AI Filing Summary

Jennifer Mary Bush, a Cummins Inc. officer and director (VP & Pres. - Power Systems), reported a sale of 520 common shares on 08/08/2025 at a weighted average price of $388.127. After the sale she directly beneficially owns 15,130.167 shares and has an indirect beneficial interest of 169 shares held by her spouse.

She also holds outstanding stock options: 3,200 options exercisable at $142.12 (expiration 04/06/2030) and 1,070 options exercisable at $163.43 (expiration 04/04/2029). The filing notes the sale prices ranged from $388.085 to $388.18, producing the reported weighted average.

Insights

Corporate Governance Expert

TL;DR: Routine officer sale disclosed; holdings and option positions remain significant and fully reported.

The Form 4 shows a disclosed sale of 520 shares by an officer with continued direct ownership of 15,130.167 shares and indirect spousal ownership of 169 shares. The report also lists two long-dated option grants, which preserve the officer's potential future equity exposure. This filing demonstrates compliance with Section 16 reporting requirements and provides transparent detail on prices and option terms.

Securities Analyst

TL;DR: Transaction appears routine and small relative to disclosed holdings; no material change to ownership structure.

The sale at a weighted average of $388.127, derived from multiple trades between $388.085 and $388.18, reduces direct holdings by 520 shares but leaves substantial remaining direct and option-based exposure. There is no disclosure in this filing of any extraordinary events, loans, or derivative hedging that would materially alter investor credit or control considerations.

Insider Trade Summary

Net Seller: 520 shares ($201,826)

Net Sell 4 txns

Insider Bush Jennifer Mary

Role VP & Pres. - Power Systems

Sold 520 shs ($202K)

Type	Security	Shares	Price	Value
Sale	Common	520	$388.127	$202K
holding	Stock Option (Right-to-Buy)	--	--	--
holding	Stock Option (Right-to-Buy)	--	--	--
holding	Common	--	--	--

Holdings After Transaction: Common — 15,130.167 shares (Direct); Stock Option (Right-to-Buy) — 3,200 shares (Direct); Common — 169 shares (Indirect, By Spouse)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Bush Jennifer Mary

(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 & Pres. - Power Systems

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

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	08/08/2025		S		520	D	$388.127(1)	15,130.167	D
Common								169	I	By Spouse

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							04/06/2023	04/06/2030	Common	3,200		3,200	D
Stock Option (Right-to-Buy)	$163.43							04/04/2022	04/04/2029	Common	1,070		1,070	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 $388.085 - $388.18. 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.

	/s/ Nicole Y. Lamb-Hale, Attorney-in-Fact	08/12/2025
	** 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.

FAQ

What did Jennifer Bush report on Form 4 for Cummins (CMI)?

The Form 4 reports a sale of 520 Cummins common shares on 08/08/2025 at a weighted average price of $388.127 and lists option holdings.

How many Cummins shares does Jennifer Bush own after the reported transaction?

After the reported sale she directly owns 15,130.167 shares and has an indirect beneficial interest of 169 shares held by her spouse.

What stock options does the Form 4 disclose for Jennifer Bush at CMI?

The filing discloses 3,200 options at an exercise price of $142.12 (expiration 04/06/2030) and 1,070 options at $163.43 (expiration 04/04/2029), both listed as direct holdings.

At what prices were the 520 Cummins shares sold?

The filing states the shares were sold in multiple transactions at prices ranging from $388.085 to $388.18, producing the weighted average of $388.127.

What is Jennifer Bush's role at Cummins as listed on the Form 4?

She is identified as a Director and an Officer with title VP & Pres. - Power Systems.

Does the Form 4 indicate any indirect ownership?

Yes; the filing shows an indirect beneficial ownership of 169 common shares reported as held by the reporting person's spouse.