Westinghouse Air Brake (NYSE: WAB) exec reports phantom stock transactions

Q: How many Westinghouse Air Brake common shares did Pascal Schweitzer dispose of?

Pascal Schweitzer disposed of 4,678 common shares of Westinghouse Air Brake Technologies. The transaction was coded as a disposition to the issuer at a price of $263.015 per share , reflecting shares returned directly to the company rather than an open-market sale.

Q: What is phantom stock in the context of Westinghouse Air Brake Technologies?

At Westinghouse Air Brake Technologies, each share of phantom stock is economically equivalent to one common share. For Pascal Schweitzer, these phantom units were settled for cash, meaning he received a cash payment based on the common stock value instead of actual shares.

Q: Was Pascal Schweitzer’s disposition of Westinghouse Air Brake shares an open-market sale?

No, the Form 4 describes the transaction as a disposition to the issuer . The 4,678 common shares were transferred back to Westinghouse Air Brake Technologies at $263.015 per share, rather than being sold on a stock exchange or to public investors.

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Westinghouse Air Brake Technologies executive Pascal Schweitzer, President Transit, reported transactions involving phantom stock and common shares. He exercised phantom stock units, which are economically equivalent to common stock, and settled them for cash.

On common stock, he acquired 4,678 shares through a derivative exercise and then disposed of the same 4,678 shares back to the company at $263.015 per share, leaving him with 19,941 directly held common shares. The phantom stock awards vest 33.33% per year beginning on March 1 of 2024, 2025 and 2026.

Insider Trade Summary

4,678 shares exercised/converted

Mixed 5 txns

Insider Schweitzer Pascal

Role President Transit

Type	Security	Shares	Price	Value
Exercise	Phantom Stock	1,537	$263.015	$404K
Exercise	Phantom Stock	1,575	$263.015	$414K
Exercise	Phantom Stock	1,566	$263.015	$412K
Exercise	Common Stock - Direct	4,678	$0.00	--
Disposition	Common Stock - Direct	4,678	$263.015	$1.23M

Holdings After Transaction: Phantom Stock — 0 shares (Direct); Common Stock - Direct — 24,619 shares (Direct)

Footnotes (1)

Each share of phantom stock is the economic equivalent of one share of Westinghouse Air Brake Technologies Corporation's common stock. The reporting person settled his shares of phantom stock for cash. Shares of Phantom Stock vest at 33.33% per year beginning March 1, 2024. Shares of Phantom Stock vest at 33.33% per year beginning March 1, 2025. Shares of Phantom Stock vest at 33.33% per year beginning March 1, 2026.

Form 4 Insider Transactions: What Each Field Means →

03/04/2026 - 04:45 PM

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^*

Schweitzer Pascal

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		M		4,678	A	⁽¹⁾	24,619	D
Common Stock - Direct	03/02/2026		D		4,678	D	$263.015	19,941	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)
Phantom Stock	⁽¹⁾	03/02/2026		M			1,537	03/01/2026⁽²⁾	03/01/2026	Common Stock	1,537	$263.015	0	D
Phantom Stock	⁽¹⁾	03/02/2026		M			1,575	03/01/2027⁽³⁾	03/01/2027	Common Stock	1,575	$263.015	1,575	D
Phantom Stock	⁽¹⁾	03/02/2026		M			1,566	03/01/2028⁽⁴⁾	03/01/2028	Common Stock	1,566	$263.015	3,130	D

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one share of Westinghouse Air Brake Technologies Corporation's common stock. The reporting person settled his shares of phantom stock for cash.

2. Shares of Phantom Stock vest at 33.33% per year beginning March 1, 2024.

3. Shares of Phantom Stock vest at 33.33% per year beginning March 1, 2025.

4. Shares of Phantom Stock vest at 33.33% per year beginning March 1, 2026.

Remarks:

	David L. DeNinno, POA for Pascal Schweitzer	03/04/2026
	** 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

What insider transaction did Pascal Schweitzer report for Westinghouse Air Brake (WAB)?

Pascal Schweitzer reported exercising phantom stock awards and related common share movements. He converted phantom stock, settled it for cash, and conducted matching transactions in 4,678 common shares with the company, all dated March 2, 2026, as part of his compensation structure.

How many Westinghouse Air Brake common shares did Pascal Schweitzer dispose of?

Pascal Schweitzer disposed of 4,678 common shares of Westinghouse Air Brake Technologies. The transaction was coded as a disposition to the issuer at a price of $263.015 per share, reflecting shares returned directly to the company rather than an open-market sale.

How many Westinghouse Air Brake shares does Pascal Schweitzer hold after this Form 4?

After the reported transactions, Pascal Schweitzer directly holds 19,941 common shares of Westinghouse Air Brake Technologies. This figure reflects his position following the derivative exercise that added shares and the subsequent disposition of 4,678 shares back to the company.

What is phantom stock in the context of Westinghouse Air Brake Technologies?

At Westinghouse Air Brake Technologies, each share of phantom stock is economically equivalent to one common share. For Pascal Schweitzer, these phantom units were settled for cash, meaning he received a cash payment based on the common stock value instead of actual shares.

How do Pascal Schweitzer’s phantom stock awards vest at Westinghouse Air Brake (WAB)?

Schweitzer’s phantom stock awards vest in three equal installments. The shares vest at 33.33% per year, with separate tranches beginning on March 1, 2024, March 1, 2025, and March 1, 2026, aligning vesting with multi‑year executive incentive periods.

Was Pascal Schweitzer’s disposition of Westinghouse Air Brake shares an open-market sale?

No, the Form 4 describes the transaction as a disposition to the issuer. The 4,678 common shares were transferred back to Westinghouse Air Brake Technologies at $263.015 per share, rather than being sold on a stock exchange or to public investors.