PACCAR Insider Trade: CEO exercises 51k options, sells 40k shares

Rhea-AI Filing Summary

On 29 Jul 2025, PACCAR Inc. (PCAR) CEO & Director R. Preston Feight executed a two-step insider trade. He exercised 51,165 stock options at an exercise price of $62.87 (Code M) and sold 39,965 shares at a weighted-average price of $99.52 (Code S), realising roughly $36.65 intrinsic value per share. The actions generated a net increase of 11,200 directly held shares. Following the transactions, Feight directly owns 223,190 common shares and indirectly holds 17,134.027 shares via the PACCAR Savings Investment Plan. He retains 454,555 unexercised options with strike prices ranging from $62.87 to $109.13, plus 65,305 deferred stock units under the LTIP. The filing, signed 30 Jul 2025, does not disclose any other material events.

Positive

• CEO increased direct share ownership by 11,200 shares, signalling continued alignment with shareholders.
• Significant intrinsic gain realised ($36.7/share) reflects management confidence in stock value.

Negative

• Sale of 39,965 shares could be interpreted as partial profit-taking and may create limited negative sentiment.

Insights

Securities Analyst

TL;DR Net share increase of 11,200 by CEO; sale funds option exercise, signalling liquidity need more than bearish view—overall neutral impact.

The option exercise at $62.87 unlocks significant value and indicates confidence in long-term equity incentives. Offsetting sale of 39,965 shares covers tax and cash needs, a common practice. Direct ownership rises to 223k shares (≈$22 m at market), keeping management’s interests aligned with shareholders. Retained option overhang (≈455k shares) could dilute marginally but is already disclosed in SEC filings. No red flags such as large disposal, trading ahead of material news, or reduction below guideline ownership levels. Market impact should therefore be modest.

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
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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).

1. Name and Address of Reporting Person^*

FEIGHT R PRESTON

(Last) (First) (Middle)

777 - 106TH AVE. N.E.

(Street)

BELLEVUE WA 98004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PACCAR INC [ PCAR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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 Stock	07/29/2025		M		51,165	A	$62.8667	263,155	D
Common Stock	07/29/2025		S		39,965	D	$99.5204(1)	223,190	D
Common Stock								17,134.027	I	By PACCAR Savings Investment Plan (SIP)

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	$62.8667	07/29/2025		M			51,165	01/01/2025	02/07/2032	Common Stock	51,165	$62.8667	51,165	D
Stock Option	$71.95							01/01/2026	02/08/2033	Common Stock	141,038		141,038	D
Stock Option	$104.16							01/01/2027	02/05/2034	Common Stock	104,244		104,244	D
Stock Option	$109.13							01/01/2028	02/03/2035	Common Stock	92,768		92,768	D
Stock Units (LTIP)	(2)							(2)	(2)	Common Stock	65,305		65,305	D

Explanation of Responses:

1. The price shown is a weighted average sale price of shares sold in multiple transactions; the sale prices ranged from 99.1350 to 99.9650 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

2. Restricted stock units held in deferred phantom stock account under Long Term Incentive Plan (LTIP) convertible to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions.

	Michael R. Beers, by Power of Attorney	07/30/2025
	** 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

How many PACCAR (PCAR) shares did the CEO sell on 29 Jul 2025?

39,965 shares were sold at a weighted-average price of $99.52.

What was the exercise price of the options exercised by PACCAR's CEO?

The options were exercised at $62.8667 per share.

Did the CEO’s total shareholding in PCAR increase or decrease after the transaction?

It increased by 11,200 shares, bringing direct ownership to 223,190 shares.

How many unexercised stock options does the PACCAR CEO still hold?

He retains 454,555 unexercised options across four grant tranches.

What derivative securities does the CEO hold besides options?

He holds 65,305 restricted stock units in a deferred phantom account under the LTIP.

When does the exercised option block expire?

The exercised tranche was due to expire on 07 Feb 2032.