PACCAR (PCAR) director adjusts deferred stock units and large share stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PACCAR INC director John Pigott reported routine changes in deferred stock units and updated share holdings. A Form 4 shows an "other" transaction involving 297.4926 stock units valued at $117.65 each, bringing one stock unit balance to 3,373.3605 units.
These stock units relate to a deferred phantom stock account under PACCAR’s Restricted Stock and Deferred Compensation Plan for non-employee directors, which is convertible into common stock on a 1-for-1 basis under specified conditions. Following the update, Pigott reports 72,690.5634 underlying common shares tied to Stock Units (RSDCP), 2,283,953 PACCAR common shares held directly, 51,526 shares held indirectly through Grantor Retained Annuity Trusts, and 1,079,416 shares held indirectly by a trust for children.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Pigott John
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Stock Units | 297.493 | $117.65 | $35K |
| holding | Stock Units (RSDCP) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Units — 3,373.361 shares (Direct);
Stock Units (RSDCP) — 72,690.563 shares (Direct);
Common Stock — 2,283,953 shares (Direct);
Common Stock — 51,526 shares (Indirect, By Grantor Retained Annuity Trusts)
Footnotes (1)
- Stock units held in deferred phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors (RSDCP) convertible to PACCAR common stock on a 1-for-1 basis upon termination of the Reporting Person's status as a non-employee director. Cash compensation deferred into phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan for Non-Employee Directors (RSDCP). Restricted stock units held in deferred phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors (RSDCP) convertible to PACCAR common stock on a 1-for-1 basis upon satisfaction of all applicable vesting conditions.
Key Figures
Stock units transacted: 297.4926 units
Reference price per stock unit: $117.65
Stock unit balance: 3,373.3605 units
+4 more
7 metrics
Stock units transacted
297.4926 units
Code J other transaction in stock units
Reference price per stock unit
$117.65
Value used for the 297.4926 stock units
Stock unit balance
3,373.3605 units
Total stock units following transaction
Underlying RSDCP shares
72,690.5634 shares
Common stock underlying Stock Units (RSDCP)
Direct common stock holdings
2,283,953 shares
PACCAR common stock held directly
Indirect GRAT holdings
51,526 shares
Common stock held by Grantor Retained Annuity Trusts
Indirect children’s trust holdings
1,079,416 shares
Common stock held by trust for children
Key Terms
Stock Units (RSDCP), deferred phantom stock account, Restricted Stock and Deferred Compensation Plan, Grantor Retained Annuity Trusts, +1 more
5 terms
Stock Units (RSDCP) financial
"Stock units held in deferred phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors (RSDCP)"
deferred phantom stock account financial
"Stock units held in deferred phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors"
Restricted Stock and Deferred Compensation Plan financial
"under PACCAR Restricted Stock and Deferred Compensation Plan for non-Employee Directors (RSDCP)"
Grantor Retained Annuity Trusts financial
"Common Stock, nature of ownership: By Grantor Retained Annuity Trusts"
A grantor retained annuity trust (GRAT) is an estate-planning tool where an owner transfers assets into a trust and receives fixed payments back for a set number of years; any remaining assets after that period pass to designated beneficiaries. For investors it matters because it can move future investment growth to heirs while potentially reducing gift and estate taxes — like putting a rising asset in a timed box that pays you first and gives the remaining upside to others.
Restricted stock units financial
"Restricted stock units held in deferred phantom stock account under PACCAR Restricted Stock and Deferred Compensation Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
FAQ
What did PACCAR (PCAR) director John Pigott report in this Form 4?
John Pigott reported an "other" transaction involving 297.4926 stock units and updated his PACCAR share holdings. The filing mainly reflects deferred compensation in phantom stock units and confirms substantial direct and indirect ownership of PACCAR common stock.
How many stock units did John Pigott adjust in PACCAR (PCAR) on this date?
Pigott reported an adjustment of 297.4926 stock units priced at $117.65 each. After this transaction, his related stock unit balance reached 3,373.3605 units, all linked to PACCAR’s Restricted Stock and Deferred Compensation Plan for non-employee directors.
What are PACCAR (PCAR) Stock Units (RSDCP) held by John Pigott?
The Stock Units (RSDCP) are deferred phantom stock units under PACCAR’s Restricted Stock and Deferred Compensation Plan. They are convertible into PACCAR common stock on a 1-for-1 basis upon termination as a non-employee director or after vesting, depending on the specific grant.
What does the transaction code J mean in John Pigott’s PACCAR (PCAR) Form 4?
Transaction code J indicates "other acquisition or disposition" rather than a standard market buy or sell. In this case, it relates to adjustments in deferred stock units within PACCAR’s non-employee director compensation and deferral arrangements, not an open-market stock trade.