Jason Kaiser, Group President at Caterpillar Inc., filed a Form 4 on October 27, 2026, disclosing the acquisition of 13 phantom stock units under the company's non-qualified deferred compensation plan, with a transaction date of October 26, 2026.

Key Highlights

  • Reporting person: Jason Kaiser, identified as Group President of Caterpillar Inc. (NYSE:CAT)
  • Transaction: Acquisition (code A) of 13 phantom stock units on October 26, 2026
  • Price: 7 shares credited at $692.13 per share; 6 shares contributed for no consideration
  • Post-transaction holdings: 5,542 phantom stock units beneficially owned directly following the reported transaction, including adjustments for dividends accrued
  • Settlement terms: Phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service
  • Ownership form: Direct ownership, under the Supplemental Deferred Compensation Plan

Jason Kaiser's Deferred Compensation Plan Activity at Caterpillar

According to the filing, Jason Kaiser, Group President of Caterpillar Inc. (NYSE:CAT), acquired 13 phantom stock units on October 26, 2026, under the company's non-qualified deferred compensation plan. The filing states that each phantom stock unit "is generally the economic equivalent of one share of Caterpillar Inc. common stock." The transaction was reported on Form 4 filed October 27, 2026, and signed by Nicole Puza as power of attorney for Jason E. Kaiser.

The filing explains that the 13 units consist of two components: 7 shares credited to Kaiser's account under the Supplemental Deferred Compensation Plan at a price per share of $692.13, and 6 shares contributed to his account pursuant to the terms of the Plan for no consideration. The filing notes that the phantom stock units are to be settled for 100% in cash upon the reporting person's retirement or separation from service, meaning no actual shares of common stock are distributed.

Following the reported transaction, Kaiser's total beneficial ownership stands at 5,542 phantom stock units, held directly. The filing notes that this figure includes adjustments for dividends accrued, and that "phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash," meaning the unit count may change between dates due to differences in the percentages of cash and stock in the fund. No derivative securities were disposed of in connection with this transaction.

What Was Disclosed

The Form 4 disclosed the acquisition of 13 phantom stock units by Caterpillar Group President Jason Kaiser under the company's Supplemental Deferred Compensation Plan on October 26, 2026, with post-transaction beneficial ownership of 5,542 units, settled entirely in cash at retirement or separation.