PCAR Form 4: VP Bolgar Sells 4,281 Shares, Keeps Options & LTIP

Paulo Henrique Bolgar, a Vice President of PACCAR Inc. (PCAR), reported transactions dated 09/04/2025.

Rhea-AI Filing Summary

Paulo Henrique Bolgar, a Vice President of PACCAR Inc. (PCAR), reported transactions dated 09/04/2025. The filing shows a purchase (J) of 2.543 common shares at a reported price of $98.21 (dividend reinvestment into the PACCAR Savings Investment Plan), increasing indirect beneficial ownership via the SIP to 752.886 shares. The filing also reports a disposition of 4,281 common shares. Derivative holdings include vested and unvested stock options exercisable between 01/01/2025 and various future dates, covering 41,643 underlying shares in total (individual option lots of 12,183, 11,374, 8,294, and 9,792), plus 5,115 restricted stock units under the LTIP convertible one-for-one to common stock upon vesting.

Positive

• Continued equity alignment: Officer holds multiple stock option tranches and 5,115 LTIP units convertible one-for-one, maintaining long-term incentive exposure
• Dividend reinvestment: 2.543 shares purchased via the PACCAR Savings Investment Plan, indicating participation in SIP

Negative

• Share disposition: Reported sale/disposition of 4,281 common shares, which reduces the reporting person's holdings
• No additional purchases: Aside from a small SIP reinvestment, there are no material open-market purchases increasing insider ownership

Insights

Securities Analyst

TL;DR Insider reported routine dividend reinvestment, a meaningful sale of shares, and continued holdings in options and LTIP units.

The 4,281-share disposition is the most material single change reported and slightly reduces direct/indirect share exposure by the reporting person. The small dividend reinvestment (2.543 shares) reflects SIP activity rather than a market buy decision. The officer retains significant upside via multiple stock option tranches and 5,115 LTIP units that convert one-for-one upon vesting; these derivative holdings indicate ongoing alignment with equity-based compensation rather than immediate liquidity needs.

Corporate Governance Expert

TL;DR Transactions are standard for an executive: SIP reinvestment, a sale, and outstanding incentive awards remain in place.

The filing shows no unusual acceleration or modification of awards and records standard disclosure through a power of attorney signature. The mix of dispositions and long-dated option grants is consistent with routine portfolio rebalancing and compensation realization policies. No new agreements, waivers, or plan amendments are disclosed in this Form 4.

Insider Trade Summary

Other: 2.543 shares

Other 7 txns

Insider Bolgar Paulo Henrique

Role Vice President

Type	Security	Shares	Price	Value
Other	Common Stock	2.543	$98.21	$249.75
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Stock Option	--	--	--
holding	Stock Units (LTIP)	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 752.886 shares (Indirect, By PACCAR Savings Investment Plan (SIP)); Stock Option — 41,643 contracts (Direct); Stock Units (LTIP) — 5,115 contracts (Direct); Common Stock — 4,281 shares (Direct)

Footnotes (2)

1. F1. Dividend on PACCAR Savings Investment Plan (SIP) shares reinvested pursuant to SIP.
2. F2. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PACCAR insider Paulo Henrique Bolgar report on 09/04/2025 (PCAR)?

The Form 4 shows a purchase of 2.543 shares at $98.21 via SIP dividend reinvestment and a disposition of 4,281 shares on 09/04/2025.

How many stock options and LTIP units does the reporting person hold for PCAR?

The filing lists stock options covering 12,183, 11,374, 8,294, and 9,792 underlying shares, plus 5,115 LTIP restricted stock units convertible one-for-one.

Was the 2.543-share transaction an open-market purchase?

No; the filing explains the 2.543 shares were acquired by dividend reinvestment into the PACCAR Savings Investment Plan (SIP).

Are there any new or amended compensation plans disclosed in this Form 4 for PCAR?

No; the Form 4 discloses standard option and LTIP holdings and a SIP reinvestment. No plan amendments or new agreements are reported.

Who signed the Form 4 and when was it filed?

The Form 4 was signed under power of attorney by Michael R. Beers on 09/05/2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/05/2025 - 03:01 PM Learn about SEC filing dates

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^*

Bolgar Paulo Henrique

(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

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)		2.543	A	$98.21	752.886	I	By PACCAR Savings Investment Plan (SIP)
Common Stock								4,281	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 Option	$54.6133							01/01/2025	06/20/2032	Common Stock	12,183		12,183	D
Stock Option	$71.95							01/01/2026	02/08/2033	Common Stock	11,374		11,374	D
Stock Option	$104.16							01/01/2027	02/05/2034	Common Stock	8,294		8,294	D
Stock Option	$109.13							01/01/2028	02/03/2035	Common Stock	9,792		9,792	D
Stock Units (LTIP)	(2)							(2)	(2)	Common Stock	5,115		5,115	D

Explanation of Responses:

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

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	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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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