Wabtec Chief Executive Reduces Holdings as Stock Trades Near $200 Level

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Wabtec (WAB) President and CEO Rafael Santana reported multiple sales transactions of company common stock over two days in June 2025. On June 17, 2025, Santana disposed of a total of 886 shares in three transactions at weighted average prices ranging from $200.87 to $202.48 per share. The following day, June 18, 2025, he sold an additional 886 shares in three separate transactions at prices between $200.98 and $202.52 per share.

Following these transactions, Santana's direct ownership stands at 142,072 shares. The sales were executed in multiple lots within $1.00 price ranges, with detailed transaction information available upon request. The filing indicates these trades may have been made pursuant to a Rule 10b5-1 trading plan, as suggested by the checkbox on the form.

These insider sales by a key executive could be significant for investors monitoring insider sentiment, though they represent less than 1% of Santana's total holdings in Wabtec.

Insider Trade Summary

Net Seller: 1,772 shares ($356,952)

Net Sell 6 txns

Insider Santana Rafael

Role President and CEO

Sold 1,772 shs ($357K)

Type	Security	Shares	Price	Value
Sale	Common Stock - Direct	291	$200.9769	$58K
Sale	Common Stock - Direct	569	$201.9611	$115K
Sale	Common Stock - Direct	26	$202.5158	$5K
Sale	Common Stock - Direct	592	$200.871	$119K
Sale	Common Stock - Direct	218	$201.7562	$44K
Sale	Common Stock - Direct	76	$202.4781	$15K

Holdings After Transaction: Common Stock - Direct — 142,667 shares (Direct)

Footnotes (1)

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $200.35 to $201.35 inclusive. The reporting person undertakes to provide Westinghouse Air Brake Technologies Corporation ("Wabtec"), any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $201.375 to $202.365 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (2) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $202.38 to $202.585 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (3) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $200.435 to $201.415 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (4) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $201.455 to $202.455 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (5) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $202.475 to $202.58 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (6) to this Form 4.

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Form 4 Insider Transactions: What Each Field Means →

06/20/2025 - 07:03 AM

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^*

Santana Rafael

(Last)

(First)

(Middle)

30 ISABELLA ST.

(Street)

PITTSBURGH

15212

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP [ WAB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock - Direct	06/17/2025		S		592	D	$200.871⁽¹⁾	143,252	D
Common Stock - Direct	06/17/2025		S		218	D	$201.7562⁽²⁾	143,034	D
Common Stock - Direct	06/17/2025		S		76	D	$202.4781⁽³⁾	142,958	D
Common Stock - Direct	06/18/2025		S		291	D	$200.9769⁽⁴⁾	142,667	D
Common Stock - Direct	06/18/2025		S		569	D	$201.9611⁽⁵⁾	142,098	D
Common Stock - Direct	06/18/2025		S		26	D	$202.5158⁽⁶⁾	142,072	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $200.35 to $201.35 inclusive. The reporting person undertakes to provide Westinghouse Air Brake Technologies Corporation ("Wabtec"), any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $201.375 to $202.365 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (2) to this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $202.38 to $202.585 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (3) to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $200.435 to $201.415 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (4) to this Form 4.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $201.455 to $202.455 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (5) to this Form 4.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $202.475 to $202.58 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (6) to this Form 4.

Remarks:

	David L. DeNinno, POA for Rafael Santana	06/20/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many WAB shares did CEO Rafael Santana sell in June 2025?

CEO Rafael Santana sold a total of 1,772 shares of WAB common stock across two days: 886 shares on June 17, 2025 (in three transactions) and 886 shares on June 18, 2025 (in three transactions).

What was the price range of WAB stock sales by CEO Santana on June 17, 2025?

On June 17, 2025, CEO Santana sold WAB shares at weighted average prices ranging from $200.871 to $202.4781 per share, with specific transactions occurring between $200.35 and $202.585.

How many WAB shares does Rafael Santana own after his June 2025 transactions?

Following the reported transactions, Rafael Santana directly owns 142,072 shares of WAB common stock. This reflects his holdings after selling 1,772 shares over June 17-18, 2025.

Was WAB CEO Santana's stock sale made under a 10b5-1 trading plan?

No, the Form 4 filing does not indicate that these transactions were made pursuant to a 10b5-1 trading plan, as the checkbox for transactions made under such plans was not marked on the form.

What positions does Rafael Santana hold at WAB according to the Form 4?

According to the Form 4, Rafael Santana serves as both a Director and an Officer (specifically President and CEO) of Westinghouse Air Brake Technologies Corp (WAB).