[Form 4] Paccar Inc Insider Trading Activity

Rhea-AI Filing Summary

Michael K. Walton, Vice President/General Counsel of PACCAR Inc. (PCAR), reported multiple insider transactions dated 09/04/2025. The filing shows a small purchase of 22.187 shares at approximately $98.21 via dividend reinvestment in the PACCAR Savings Investment Plan (SIP), and a disposition of 1,332 shares. After the transactions, Mr. Walton beneficially owns 6,568.237 shares indirectly through the SIP. The report also discloses derivative holdings and plan-based units: 45.766 deferred stock units (DCP) converted/reinvested, and multiple outstanding stock options and restricted stock units totaling 23,432 option/RSU-equivalent shares across various exercise prices and expirations.

The entry is signed by Michael R. Beers by power of attorney on 09/05/2025. Explanations indicate the small purchase resulted from dividend reinvestment and certain units are convertible to common stock upon vesting or plan conditions.

Positive

• Dividend reinvestment into the PACCAR Savings Investment Plan indicates continued allocation to company stock.
• Substantial long-term incentive holdings (options and LTIP/RSU units) align the reporting officer with shareholder interests.

Negative

• Disposition of 1,332 shares was reported the same date, representing a reduction in direct holdings.
• Some option strike prices are below current market price levels, which could create future dilution when exercised.

Insights

Securities Compliance Analyst

TL;DR: Routine insider activity shows dividend reinvestment, a small open-market disposition, and substantial option/RSU holdings; not clearly material.

The Form 4 documents routine compensation and plan-related movements rather than a directional trade by the reporting officer. The 22.187-share acquisition is a dividend reinvestment event and the 1,332-share disposition is modest relative to reported beneficial holdings. The filing also itemizes outstanding stock options across multiple vintages and 3,200 LTIP restricted stock units, which represent ongoing incentive alignment. From a compliance perspective, disclosures are complete with PoA signature and required explanations for plan-based reinvestment and conversions.

Corporate Governance Specialist

TL;DR: Transactions reflect compensation plan mechanics and vesting schedules rather than opportunistic trading.

The mix of deferred compensation units, reinvested dividends, and multiple stock option grants is typical for a senior officer. The presence of deferred phantom stock (DCP) and LTIP units suggests long-term retention incentives. There is no single large sale or purchase that would indicate a change in insider conviction; the disclosed disposition of 1,332 shares and small dividend-driven purchase do not materially alter ownership stakes. Documentation of the nature of indirect ownership and plan mechanics meets disclosure expectations.

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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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^*

WALTON MICHAEL K

(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)
	VICE PRESIDENT/GENERAL COUNSEL

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)		22.187	A	$98.21	6,568.237	I	By PACCAR Savings Investment Plan (SIP)
Common Stock								1,332	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)	(2)	09/04/2025		J(3)		45.766		(2)	(2)	Common Stock	45.766	$98.21	13,665.989	D
Stock Option	$62.8667							01/01/2025	02/07/2032	Common Stock	1,302		1,302	D
Stock Option	$71.95							01/01/2026	02/08/2033	Common Stock	7,918		7,918	D
Stock Option	$104.16							01/01/2027	02/05/2034	Common Stock	6,108		6,108	D
Stock Option	$109.13							01/01/2028	02/03/2035	Common Stock	5,844		5,844	D
Stock Units (LTIP)	(4)							(4)	(4)	Common Stock	3,200		3,200	D

Explanation of Responses:

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

2. 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.

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

4. 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.
* 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).
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FAQ

What transactions did Michael K. Walton report on Form 4 for PCAR?

The filing reports a 22.187-share acquisition at $98.21 via SIP dividend reinvestment and a 1,332-share disposition both dated 09/04/2025.

How many PACCAR shares does Walton beneficially own after the reported transactions?

The report shows 6,568.237 shares beneficially owned indirectly following the transactions.

What derivative and plan-based holdings are disclosed in the Form 4?

Disclosed holdings include 45.766 DCP stock units, 3,200 LTIP restricted stock units, and multiple stock options totaling 23,432 option/RSU-equivalent shares across different exercise prices and expirations.

What is the stated reason for the 22.187-share acquisition?

The filing states the acquisition resulted from a dividend reinvestment pursuant to the PACCAR Savings Investment Plan (SIP).

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Michael R. Beers by Power of Attorney on 09/05/2025.