PACCAR (NASDAQ: PCAR) CFO manages RSU vesting and tax share withholding
Rhea-AI Filing Summary
PACCAR Sr. Vice President & CFO Brice J. Poplawski reported equity award activity and related tax withholding. On March 1, he exercised 646 Stock Units (LTIP), converting them into 646 shares of common stock at a stated price of $0.0000 per share, reflecting a restricted stock unit conversion rather than an open-market purchase. On March 2, 158 common shares valued at $126.0900 per share were disposed to cover tax liabilities tied to vesting, a non-open-market transaction described as payment of tax liability by delivering shares. Following these transactions, he directly held 1,391 common shares and 3,174 LTIP stock units, with additional indirect common stock held through the PACCAR Savings Investment Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 158 | $126.09 | $20K |
| Exercise | Stock Units (LTIP) | 646 | $0.00 | -- |
| Exercise | Common Stock | 646 | $0.00 | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted stock units converted to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions. Shares withheld for payment of tax liability in connection with the vesting of restricted shares and/or restricted stock units. Restricted stock units awarded under PACCAR Long Term Incentive Plan (LTIP) and convertible to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions. Each award vests in four equal installments commencing on March 1 following the award and January 1 of the next three years.
FAQ
What insider transactions did PACCAR (PCAR) CFO Brice Poplawski report?
Brice Poplawski reported restricted stock unit conversions and tax withholding transactions. He converted 646 LTIP stock units into 646 common shares, then disposed of 158 common shares at $126.0900 per share to cover tax liabilities associated with equity vesting.
Was the PACCAR (PCAR) CFO’s Form 4 transaction an open-market stock sale?
The filing shows no open-market sale. The 158-share disposition at $126.0900 per share is labeled as payment of tax liability by delivering shares, tied to restricted shares and/or restricted stock units vesting, rather than a discretionary sale.
What are PACCAR LTIP restricted stock units mentioned in the Form 4?
The LTIP restricted stock units are awards under the PACCAR Long Term Incentive Plan. Each unit converts into one common share once vesting conditions are met. Footnotes note awards typically vest in four equal installments over several years.
What does transaction code F mean in the PACCAR CFO’s Form 4?
Transaction code F indicates a payment of tax liability by delivering securities. In this case, 158 common shares were withheld at $126.0900 per share to satisfy taxes due upon vesting of restricted shares and/or restricted stock units.