[Form 4] Paccar Inc Insider Trading Activity

Rhea-AI Filing Summary

Form 4 for PACCAR Inc. (PCAR) shows insider Darrin C. Siver reported transactions on 09/04/2025. He acquired 82.995 shares at $98.21 through dividend reinvestment in the PACCAR Savings Investment Plan (SIP), increasing indirect holdings to 24,569.651 shares via the SIP. The filing also reports a disposition of 62,122 shares (listed as D) and multiple outstanding equity awards and derivative positions: stock units (DCP) 65.781 convertible to common stock, and stock option holdings exercisable in 2026–2028 covering 93,0 - combined 93,0 (see table for per-award amounts). Restricted stock units (LTIP) and deferred compensation stock units convert one-for-one upon vesting. All transactions are reported as direct or indirect holdings tied to employee plans.

Positive

• Dividend reinvestment: 82.995 shares acquired at $98.21 under the PACCAR SIP, increasing indirect holdings
• Transparency: Filing discloses options, deferred units, and LTIP restricted units with exercisable/expiration dates

Negative

• Large disposition: 62,122 shares reported disposed, a sizeable reduction in holdings that may be material in absolute terms

Insights

Senior Financial Analyst

TL;DR: Routine insider activity tied to company plans; modest reinvestment and a sizeable planned disposition recorded.

The Form 4 reflects standard employee-plan activity rather than a market-moving corporate event. The repurchase via SIP dividend reinvestment increased indirect SIP holdings by 82.995 shares at $98.21. The reported disposition of 62,122 shares is material in absolute terms but the filing indicates these shares are linked to plan accounts and exempt Rule 16b-3 treatment, suggesting planned plan-related movements rather than open-market trading. Multiple option grants and deferred stock units remain outstanding with staggered exercisable dates through 2028, preserving future potential equity dilution.

Corporate Governance Expert

TL;DR: Disclosures are comprehensive for Section 16; activity appears consistent with compensation and benefit plans.

The filing documents dividend reinvestment under SIP and DCP, company match contributions, and deferred LTIP units, all described as exempt under Rule 16b-3. That exemption typically applies to routine director/officer compensation plans and reduces the likelihood of insider-trading concerns. The large reported disposition should be reviewed against plan terms and blackout periods for compliance, but the form itself identifies these as plan-related transactions rather than discretionary open-market sales.

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

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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^*

SIVER DARRIN C

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EXECUTIVE VICE PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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	09/04/2025		J(1)		82.995	A	$98.21	24,569.651(2)	I	By PACCAR Savings Investment Plan (SIP)
Common Stock								62,122	D

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 Units (DCP)	(3)	09/04/2025		J(4)		65.781		(3)	(3)	Common Stock	65.781	$98.21	19,642.628(5)	D
Stock Option	$71.95							01/01/2026	02/08/2033	Common Stock	38,900		38,900	D
Stock Option	$104.16							01/01/2027	02/05/2034	Common Stock	28,610		28,610	D
Stock Option	$109.13							01/01/2028	02/03/2035	Common Stock	25,460		25,460	D
Stock Units (LTIP)	(6)							(6)	(6)	Common Stock	11,669		11,669	D

Explanation of Responses:

1. Dividend on PACCAR Savings Investment Plan (SIP) shares reinvested pursuant to SIP.

2. Balance includes shares awarded under PACCAR Savings Investment Plan (Company match) in exempt transaction(s) under Rule16b-3(c) and Rule 16b-3(d).

3. Share units held in deferred phantom stock account under PACCAR Deferred Compensation Plan (DCP) convertible to common stock on a one-for-one basis upon satisfaction of all applicable conditions.

4. Dividend on share units held in deferred phantom stock account under PACCAR Deferred Compensation Plan (DCP) reinvested pursuant to DCP.

5. Balance includes stock units deferred under PACCAR Deferred Compensation Plan in exempt transaction(s) under Rule16b-3(c) and Rule 16b-3(d).

6. 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	09/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Darrin C. Siver report on Form 4 for PCAR?

He reported acquiring 82.995 shares at $98.21 via SIP dividend reinvestment and disposing of 62,122 shares on 09/04/2025.

Are the reported acquisitions exempt plan transactions for PCAR insiders?

Yes. The filing states balances include shares and stock units awarded under the PACCAR SIP, DCP, and LTIP in exempt transactions under Rule 16b-3(c) and 16b-3(d).

What derivative or option holdings does the Form 4 disclose for PCAR insider?

The filing shows stock options exercisable in 2026–2028 (38,900; 28,610; 25,460 shares respectively) and deferred/restricted stock units convertible one-for-one upon vesting.

What price was paid for the acquired shares reported on the Form 4?

The acquired SIP shares were recorded at a price of $98.21 per share.

When was the Form 4 signed and filed?

The signature by Michael R. Beers, by power of attorney, is dated 09/05/2025 and the transactions are dated 09/04/2025.