CATERPILLAR INC (CAT) — Insider Trading

AI-Powered SEC Filing Analysis

Latest Insider Trading Filed: 2026-05-07

Key Insights

Group President Bob De Lange exercised 28,105 stock options at $127.60 strike price, indicating confidence in CAT's valuation and long-term prospects despite recent market conditions.
Insider sold 24,222 shares across two transactions at prices around $922-924, reducing beneficial ownership from 114,134 to 86,029 shares, suggesting potential portfolio rebalancing or profit-taking.
The option exercise followed immediately by significant share sales (48% of post-exercise holdings) suggests a structured equity management strategy rather than conviction-based accumulation.
Remaining beneficial ownership of 86,029 shares still represents substantial personal investment by a senior executive, maintaining meaningful skin-in-the-game alignment with shareholders.

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Earlier Insider Trading filings

Filed: 2026-05-07

Group President Anthony Fassino exercised 12,000 stock options at $219.76 on 05/06/2026, indicating confidence in CAT's valuation and long-term prospects at current levels.
Fassino sold 9,152 shares total (8,802 + 350) at approximately $926.23-$926.83, suggesting portfolio rebalancing or liquidity needs rather than bearish sentiment given the concurrent option exercise.
Net position change shows Fassino acquired 12,000 shares via option exercise while disposing of 9,152 shares through sales, resulting in a net increase of ~2,848 shares held directly, indicating modest net accumulation.
The officer's total direct beneficial ownership stands at 46,041 shares post-transaction with an additional 1,508 shares held indirectly via 401(k) plan, representing meaningful skin-in-the-game for a Group President.

Filed: 2026-05-07

CFO Emeritus Andrew Bonfield exercised and sold significant CAT shares on 05/06/2026, disposing of 15,674 shares at an average price of $918.71, indicating confidence in current valuation but preference for liquidity over accumulation.
Bonfield acquired 23,054 shares through stock option exercises at prices ranging from $253.98 to $338.65, demonstrating vesting of multi-year equity compensation grants from 2023-2025 long-term incentive plans.
Net position decreased from approximately 68,609 to 52,935 shares after the sale, reducing beneficial ownership by ~23%, suggesting the insider viewed the stock price level as opportune for partial profit-taking rather than holding for further appreciation.
The sale occurred at stock prices ($918-919) significantly higher than recent option exercise prices ($254-339), reflecting substantial stock appreciation and timing of option vesting aligned with perceived favorable market conditions.

Filed: 2026-05-05

David MacLennan, Caterpillar's Director, purchased 250 shares at $876.84 per share on May 4, 2026, representing a ~$219,210 investment, indicating confidence in the company's valuation.
The transaction increased MacLennan's beneficial ownership to 8,206 shares (adjusted for dividends), suggesting continued accumulation of company stock by a board-level executive.
The purchase was executed through a discretionary transaction (code P) rather than a Rule 10b5-1 trading plan, indicating a deliberate buying decision made in the open market during normal trading conditions.

Filed: 2026-04-27

CEO Joseph E. Creed acquired 19 phantom stock units on 04/24/2026 valued at approximately $15,780 ($830.79 per unit), consisting of 10 purchased shares and 9 contributed shares under the Supplemental Deferred Compensation Plan.
The transaction represents a modest insider accumulation through deferred compensation rather than open market purchases, which is typical executive compensation practice and carries minimal sentiment signal.
Creed's total beneficial ownership of phantom stock units stands at 11,409 units following this transaction, indicating substantial deferred compensation holdings that will be settled in cash upon retirement or separation from service.

Filed: 2026-04-01

David MacLennan, a director of Caterpillar Inc, acquired 33 phantom stock units on 03/31/2026, increasing his total beneficial ownership to 453 units.
The phantom stock units were acquired under the company's non-qualified deferred compensation plan and will be settled in cash upon MacLennan's retirement or separation from service.
This transaction represents a routine insider holding adjustment and does not indicate any significant change in MacLennan's investment position or the company's outlook.

Filed: 2026-03-27

The reporting person, Joseph E. Creed, acquired 3 phantom stock units of Caterpillar Inc. (CAT) on March 26, 2026, representing the economic equivalent of 3 shares of common stock.
The phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service, suggesting the reporting person is compensated through this deferred compensation plan.
The reporting person currently holds 11,583 phantom stock units, which could indicate the reporting person has a significant stake in the company and is compensated through long-term incentive plans.

Filed: 2026-03-16

Joseph E. Creed, the Chief Executive Officer of Caterpillar Inc. (CAT), acquired 428 phantom stock units on March 13, 2026, indicating his confidence in the company's future performance.
The acquisition was made through the company's non-qualified deferred compensation plan, which allows executives to defer a portion of their compensation into phantom stock units that track the performance of Caterpillar's common stock.
The insider transaction signals that the CEO believes Caterpillar's stock is undervalued and presents an attractive investment opportunity for long-term shareholders.

Filed: 2026-03-16

Jason Kaiser, the Group President of Caterpillar Inc., acquired 186 phantom stock units on March 13, 2026 as part of the company's non-qualified deferred compensation plan.
The phantom stock units were acquired at a price of $693.99 per share, with 93 shares credited to Kaiser's account and 93 additional shares contributed by the company.
Kaiser's total beneficial ownership of Caterpillar shares through the phantom stock units now stands at 5,564, including dividends accrued, indicating continued confidence in the company's long-term prospects.

Filed: 2026-03-10

Jason Kaiser, the Group President of Caterpillar Inc., acquired 106 phantom stock units on March 6, 2026. This indicates his continued commitment and alignment with the company's long-term performance.
The phantom stock units will be settled for 100% in cash upon Kaiser's retirement or separation from service, aligning his interests with shareholders.
Kaiser's total beneficial ownership of phantom stock units has increased to 5,520, reflecting his increasing stake in the company's future.

Filed: 2026-03-10

The CEO, Joseph E. Creed, has acquired 214 phantom stock units of Caterpillar Inc. (CAT) on March 6, 2026, indicating his confidence in the company's future performance.
The total number of phantom stock units beneficially owned by the CEO has increased to 11,293, suggesting a significant stake in the company's equity.
The phantom stock units are to be settled in cash upon the CEO's retirement or separation from service, aligning his interests with long-term shareholder value.

Filed: 2026-03-06

Denise C. Johnson, a Group President at Caterpillar, disposed of 346 shares of common stock on March 4, 2026 to cover tax obligations related to the vesting of restricted stock units.
Following the reported transaction, Johnson still owns 49,825 shares of Caterpillar stock directly, indicating she continues to hold a significant stake in the company.
The timing and relatively small size of the transaction suggest it was a routine tax-related disposition and not an indication of any broader concerns or changes in Johnson's investment stance.

Filed: 2026-03-06

Donald J. Umpleby III, the Executive Chairman of Caterpillar Inc., has reported a sale of 1,546 shares of common stock to satisfy tax obligations arising from the vesting of restricted stock units granted in 2024.
Umpleby continues to hold a significant beneficial ownership stake in Caterpillar, with 464,199 shares held directly and an additional 96,069 shares held indirectly through trusts and a 401(k) plan.
The reported transaction does not appear to represent a significant change in Umpleby's overall ownership position, suggesting this is a routine transaction related to the vesting of equity awards.

Filed: 2026-03-06

Rodney Shurman, a Group President at Caterpillar, reported the sale of 117 shares to cover tax obligations from the vesting of restricted stock units, indicating ongoing equity compensation and ownership by insiders.
Shurman maintains a significant direct and indirect ownership stake in Caterpillar, holding 2,546 shares directly and an additional 6,745 shares through the company's 401(k) plan, suggesting continued alignment with shareholder interests.
The timing and size of the reported transaction are routine and do not indicate any major changes in Shurman's ownership or the company's leadership.

Filed: 2026-03-06

The reporting person, William E. Schaupp, the Chief Accounting Officer of Caterpillar Inc., has disposed of 19 shares of common stock through a transaction to satisfy tax obligations arising from the vesting of restricted stock units.
The reporting person continues to beneficially own 890 shares of Caterpillar Inc. common stock following the reported transaction.
The transaction was executed on March 4, 2026, and the reported price per share was $738.42.

Other reports for CATERPILLAR INC

Quarterly Report Current Report

Important Information

AI-generated analysis is for informational purposes only. Always read original SEC filings and consult with qualified professionals before making investment decisions.