Creed Joseph E 4
4 · CATERPILLAR INC · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Caterpillar (CAT) CEO Joseph E. Creed Receives Award
What Happened Joseph E. Creed, CEO of Caterpillar Inc., was granted 428 phantom stock units (a derivative award) on March 13, 2026. The units were recorded at $693.99 each, for a total economic value of about $297,028. This was an award under the company's non‑qualified deferred compensation plan, not an open‑market purchase or sale of common stock.
Key Details
- Transaction date: 2026-03-13; Form 4 filed: 2026-03-16.
- Instrument & amount: 428 phantom stock units at $693.99 per unit (total ~$297,028).
- Breakdown: 214 units credited at $693.99 per share and 214 units contributed for no consideration (per footnotes).
- Settlement: Phantom units are to be settled 100% in cash upon retirement or separation from service.
- Shares owned after transaction: Not specified in the filing.
- Nature: Derivative award (phantom stock units) — represents economic equivalent of shares, not immediate stock ownership.
Context Phantom stock units are a form of deferred compensation that track the value of company stock; they typically pay out in cash (here, upon retirement/separation) and may include accrued dividends. Because these units are derivative and settle in cash, this award does not represent an immediate purchase of stock and should not be read as a direct open‑market bullish signal.
Insider Transaction Report
- Award
Phantom Stock Units
[F1][F2][F3][F4]2026-03-13$693.99/sh+428$297,028→ 11,433 total→ Common Stock (428 underlying)
Footnotes (4)
- [F1]Each phantom stock unit under the company's non-qualified deferred compensation plan as reported is generally the economic equivalent of one share of Caterpillar Inc. common stock.
- [F2]This total includes 214 shares that were credited to the reporting person's account under the Supplemental Deferred Compensation Plan ("the Plan") at a price per share of $693.99 and 214 shares that were contributed to the reporting person's account pursuant to the terms of the Plan for no consideration.
- [F3]The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service.
- [F4]Includes dividends accrued. Moreover, phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash, and therefore the number of phantom stock units the reporting person is deemed to own may change between any given dates due to differences in the percentages of cash and stock in the unitized fund on those dates.