CAT insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Joseph Creed Chief Executive Officer	32,401	$808.98	n/a	n/a	Aug 28, 2026	Sep 1, 2026

What stands out

Andrew Bonfield sold 55% of vested holdings: 36K shares for $25.9M, 44% under a disclosed plan.Largest sale, May 6, 2026

Seven officers sold $209M with no disclosed plan: Bob De Lange ($78.7M), Anthony Fassino ($45.8M) and Denise Johnson ($43.7M), plus 4 more. The filings don't state a reason.Bob De Lange: largest such sale, Feb 6, 2026 · Anthony Fassino: largest such sale, May 11, 2026 · Denise Johnson: largest such sale, Feb 2, 2026

David MacLennan bought 550 shares for $390K, first on Nov 6, 2025.Purchase, May 4, 2026

Percentages cover 14 of 21 officers and directors. 7 are left out

Left out: Bob De Lange, Anthony Fassino, Joseph Creed, Kyle Epley, Derek Owens, Rodney Shurman and Christine Pambianchi (holdings couldn't be fully reconciled).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stake

Bob De Lange

Group President

Sold $78.7M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$78.7MNo plan disclosed

Anthony Fassino

Group President

Sold $45.8M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$45.8MNo plan disclosed

Denise Johnson

Group President

Sold $43.7M (plan status beside the amount). Exercised options and sold: 54% of the shares held or received (after tax withholding) during the period†. Stake: 44K → 50K. Why

$43.7MNo plan disclosed

Joseph Creed

Chief Executive Officer

Sold $28.0M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$28.0M6% planned 94% no plan disclosed

Andrew Bonfield

CFO Emeritus

55% · $25.9M44% planned 56% no plan disclosed

All 9 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Common questions

Is the Caterpillar Inc. CEO selling stock?

Yes. Joseph Creed sold 35K shares ($28.0M) in the past 12 months, 6% of it under a trading plan disclosed in the filings.

Why are Caterpillar Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 12% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 88% had no disclosed plan. A trading plan schedules sales in advance.

Are any Caterpillar Inc. insiders buying?

Yes. 1 officer or director reported 2 purchases in the past 12 months (Form 4 code P; rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust are not counted).

How much of their stake did Caterpillar Inc. insiders sell?

About 14% of the shares they held or received (after tax withholding) during the period. The usual measure, against starting holdings alone, can't be used here because most of the shares sold arrived during the period, through vesting or option exercises. That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold9 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Bob De Lange Group President	$78.7M 106K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Anthony Fassino Group President	$45.8M 58K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Denise Johnson Group President	$43.7M 58K shares	54%† Exercised options and sold. Stake: 44K → 50K i † Denise Johnson exercised options and sold those shares, so this is shares sold as a share of the 44K held at the start plus the 92K received, less 28K withheld by the company for taxes.	No plan disclosed
Joseph Creed Chief Executive Officer	$28.0M 35K shares	i No percentage: holdings couldn't be fully reconciled.	6% under a disclosed plan 94% no plan disclosed
Andrew Bonfield CFO Emeritus	$25.9M 36K shares	55%	44% under a disclosed plan 56% no plan disclosed
Jason Kaiser Group President	$12.3M 18K shares	65%† Exercised options and sold. Stake: 9K → 9.7K i † Jason Kaiser exercised options and sold those shares, so this is shares sold as a share of the 9K held at the start plus the 29K received, less 10K withheld by the company for taxes.	60% under a disclosed plan 40% no plan disclosed
Donald Umpleby III Executive Chairman	$8.7M 17K shares	2.7%	Disclosed plan
Rodney Shurman Group President	$8.2M 9.7K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
William Schaupp Chief Accounting Officer	$1.8M 2.5K shares	83%† i † Most of the shares William Schaupp sold arrived during the period, so this is shares sold as a share of the 2.5K held at the start plus the 740 received, less 202 withheld by the company for taxes.	No plan disclosed

The full ownership picture14 of 21 insiders fully reconciled · 21 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 9, 2025

Sold

Held Oct 9, 2026

Still held

Donald Umpleby III

Minor difference of 97 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 42 shares from stock units or awards that vested. 42 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change.

Executive Chairman

636K

−17K

635K

99.8%

Vesting, gifts, unvested awards and holding lines for Donald Umpleby III

0shares vested or exercised

−2.4Kgifted (net of own trusts)

−17Kwithheld by the company for taxes

none reportedunvested awards, start → end

42 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	465,339	464,199
Irrevocable Trust for Descendants	Common Stock	59,000	59,000
Irrevocable Trust for Descendents	Common Stock	59,000	59,000
Children's Irrevocable Trust	Common Stock	36,040	36,040
Grantor Retained Annuity	Common Stock	15,712	15,712
401(k) Plan	Common Stock	1,030	1,029

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
43,526	$196.70	Mar 7, 2032	$26.9M
39,561	$338.65	Mar 4, 2034	$18.8M
39,915	$332.04	Mar 3, 2035	$19.2M

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 97 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 42 shares from stock units or awards that vested.

Bob De Lange

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +606 shares on Nov 5, 2025 (Direct). See the filing Sales and other transactions for Bob De Lange are complete.

Group President

n/a

−106K

n/a

Vesting, gifts, unvested awards and holding lines for Bob De Lange

+132Kshares vested or exercised

0gifted (net of own trusts)

−31Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +606 shares on Nov 5, 2025 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	79,603	86,029

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
28,105	$127.60	Mar 2, 2030	$19.3M
8,871	$338.65	Mar 4, 2034	$4.2M
8,439	$332.04	Mar 3, 2035	$4.1M
4,601	$752.18	Mar 2, 2036	$283K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Andrew Bonfield

Minor difference of 50 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 1 shares from stock units or awards that vested. 1 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change.

CFO Emeritus

65K

−36K

53K

81%

Vesting, gifts, unvested awards and holding lines for Andrew Bonfield

+23Kshares vested or exercised

0gifted (net of own trusts)

−13Kwithheld by the company for taxes

none reportedunvested awards, start → end

1 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	65,422	52,935

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
3,836	$338.65	Mar 4, 2034	$1.8M
7,450	$332.04	Mar 3, 2035	$3.6M
4,877	$752.18	Mar 2, 2036	$300K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 50 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 1 shares from stock units or awards that vested.

Denise Johnson

Minor difference of 116 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 100 shares from stock units or awards that vested. 100 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Group President

44K

−58K

50K

not meaningful

Vesting, gifts, unvested awards and holding lines for Denise Johnson

+81Kshares vested or exercised

0gifted (net of own trusts)

−28Kwithheld by the company for taxes

583K → 616Kunvested awards, start → end

100 shares arrived when stock units or awards vested, by the footnote; no acquisition was reported, so the amount is derived from the balance change. Filing
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	43,723	49,825

Additional holdings last reported Feb 12, 2016, not confirmed since: 1,939 shares. Not included in any total or percentage on this page.

401(k), Common Stock: 1,939 shares, last reported Feb 12, 2016

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
8,871	$338.65	Mar 4, 2034	$4.2M
8,439	$332.04	Mar 3, 2035	$4.1M
4,601	$752.18	Mar 2, 2036	$283K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 116 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 100 shares from stock units or awards that vested.

Anthony Fassino

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +313 shares on Nov 10, 2025 (Direct). See the filing Sales and other transactions for Anthony Fassino are complete.

Group President

n/a

−58K

n/a

Vesting, gifts, unvested awards and holding lines for Anthony Fassino

+80Kshares vested or exercised

0gifted (net of own trusts)

−27Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +313 shares on Nov 10, 2025 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	41,199	46,041
401(k) Plan	Common Stock	1,472	1,508

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
7,881	$138.35	Mar 4, 2029	$5.3M
23,288	$196.70	Mar 7, 2032	$14.4M
8,871	$338.65	Mar 4, 2034	$4.2M
8,439	$332.04	Mar 3, 2035	$4.1M
8,228	$196.70	Mar 7, 2032	$5.1M

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Joseph Creed

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +134 shares on Feb 10, 2026 (Direct). See the filing Sales and other transactions for Joseph Creed are complete.

Chief Executive Officer

n/a

−35K

n/a

Vesting, gifts, unvested awards and holding lines for Joseph Creed

+44Kshares vested or exercised

0gifted (net of own trusts)

−17Kwithheld by the company for taxes

197K → 332Kunvested awards, start → end

New Form 3 filed 2021-01-08; earlier filings set aside.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +134 shares on Feb 10, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	28,157	34,555
401(k) Plan	Common Stock	11,726	11,839

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
16,783	$338.65	Mar 4, 2034	$8.0M
15,966	$332.04	Mar 3, 2035	$7.7M
13,086	$325.62	May 9, 2035	$6.4M
13,803	$752.18	Mar 2, 2036	$849K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Kyle Epley

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,217 shares on May 8, 2026 (Direct). See the filing Sales and other transactions for Kyle Epley are complete.

Chief Financial Officer

n/a

Vesting, gifts, unvested awards and holding lines for Kyle Epley

0shares vested or exercised

0gifted (net of own trusts)

5.9K → 36Kunvested awards, start → end

Started reporting during the period; starting holdings are from the Form 3.

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,217 shares on May 8, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	15,973	17,705
401(k) Plan	Common Stock	3,186	3,186

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
13,472	$127.60	Mar 2, 2030	$9.2M
8,437	$219.76	Mar 1, 2031	$5.0M
8,705	$196.70	Mar 7, 2032	$5.4M
5,278	$253.98	Mar 6, 2033	$3.0M
2,158	$338.65	Mar 4, 2034	$1.0M
1,996	$332.04	Mar 3, 2035	$961K
1,564	$752.18	Mar 2, 2036	$96K
1,394	$897.45	May 8, 2036	$0

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Debra Reed

Minor difference of 117 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

13K

no sales

Vesting, gifts, unvested awards and holding lines for Debra Reed

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	12,876	13,204

Reconciliation: minor difference of 117 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Jason Kaiser

Minor difference of 38 shares. Difference is under 0.5% of holdings.

Group President

−18K

9.7K

not meaningful

Vesting, gifts, unvested awards and holding lines for Jason Kaiser

+25Kshares vested or exercised

−294gifted (net of own trusts)

−10Kwithheld by the company for taxes

69K → 118Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	8,632	9,300
401(k) Plan	Common Stock	368	368

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
12,091	$196.70	Mar 7, 2032	$7.5M
8,871	$338.65	Mar 4, 2034	$4.2M
8,439	$332.04	Mar 3, 2035	$4.1M
4,601	$752.18	Mar 2, 2036	$283K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 38 shares. Difference is under 0.5% of holdings.

Rayford Wilkins Jr.

Minor difference of 82 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

8.1K

8.4K

no sales

Vesting, gifts, unvested awards and holding lines for Rayford Wilkins Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	8,123	8,416

Reconciliation: minor difference of 82 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

David MacLennan

Minor difference of 18 shares. Difference is under 0.5% of holdings.

Director

7.6K

8.4K

no sales

Vesting, gifts, unvested awards and holding lines for David MacLennan

0shares vested or exercised

0gifted (net of own trusts)

912 → 2.8Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	7,641	8,420

Reconciliation: minor difference of 18 shares. Difference is under 0.5% of holdings.

Derek Owens

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +45 shares on Feb 10, 2026 (Direct). See the filing Sales and other transactions for Derek Owens are complete.

Chief Legal Officer

n/a

Vesting, gifts, unvested awards and holding lines for Derek Owens

0shares vested or exercised

0gifted (net of own trusts)

−782withheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +45 shares on Feb 10, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	7,031	8,203

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
2,321	$196.70	Mar 7, 2032	$1.4M
1,649	$253.98	Mar 6, 2033	$923K
8,152	$338.65	Mar 4, 2034	$3.9M
8,439	$332.04	Mar 3, 2035	$4.1M
3,865	$752.18	Mar 2, 2036	$238K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Susan Schwab

Minor difference of 59 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

6.9K

6.2K

no sales

Vesting, gifts, unvested awards and holding lines for Susan Schwab

0shares vested or exercised

−990gifted (net of own trusts)

94K → 94Kunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common	6,917	6,197

Reconciliation: minor difference of 59 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Rodney Shurman

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,439 shares on Feb 10, 2026 (Direct). See the filing Sales and other transactions for Rodney Shurman are complete.

Group President

n/a

−9.7K

n/a

Vesting, gifts, unvested awards and holding lines for Rodney Shurman

+7.9Kshares vested or exercised

0gifted (net of own trusts)

−1.1Kwithheld by the company for taxes

none reportedunvested awards, start → end

Started reporting during the period; starting holdings are from the Form 3.

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,439 shares on Feb 10, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	183	2,546
401(k) Plan	Common Stock	6,727	6,783

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
2,997	$338.65	Mar 4, 2034	$1.4M
2,509	$332.04	Mar 3, 2035	$1.2M
3,681	$752.18	Mar 2, 2036	$227K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

James Fish Jr.

Minor difference of 4 shares. Difference is under 0.5% of holdings.

Director

4.2K

no sales

Vesting, gifts, unvested awards and holding lines for James Fish Jr.

0shares vested or exercised

−1Kgifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	4,472	3,687
Nicole M. Fish GST Trust	Common Stock	250	250
Stephanie M. Fish GST Trust	Common Stock	250	250

Reconciliation: minor difference of 4 shares. Difference is under 0.5% of holdings.

Gerald Johnson

Minor difference of 37 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

3.7K

3.9K

no sales

Vesting, gifts, unvested awards and holding lines for Gerald Johnson

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	3,659	3,907

Reconciliation: minor difference of 37 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

William Schaupp

Minor difference of 4 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 1 shares to cover taxes (approximate). To cover taxes (approximate): 1 shares surrendered or withheld for taxes; the footnote gives no amount, so it is derived from the balance change. Not a sale.

Chief Accounting Officer

2.5K

−2.5K

530

not meaningful

Vesting, gifts, unvested awards and holding lines for William Schaupp

0shares vested or exercised

0gifted (net of own trusts)

−202withheld by the company for taxes

none reportedunvested awards, start → end

To cover taxes (approximate): 1 shares surrendered or withheld for taxes; the footnote gives no amount, so it is derived from the balance change. Not a sale. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	2,520	530

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
743	$338.65	Mar 4, 2034	$353K
1,095	$196.70	Mar 7, 2032	$676K
707	$332.04	Mar 3, 2035	$341K
285	$752.18	Mar 2, 2036	$18K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 4 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 1 shares to cover taxes (approximate).

Christine Pambianchi

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +26 shares on Mar 2, 2026 (Direct). See the filing Sales and other transactions for Christine Pambianchi are complete.

Chief Human Resources Officer

n/a

Vesting, gifts, unvested awards and holding lines for Christine Pambianchi

0shares vested or exercised

0gifted (net of own trusts)

−224withheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +26 shares on Mar 2, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	2,126	3,083

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
6,424	$325.62	May 9, 2035	$3.1M
3,221	$752.18	Mar 2, 2036	$198K

Estimate: options held × ($813.72 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Judith Marks

Minor difference of 10 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

1.7K

1.9K

no sales

Vesting, gifts, unvested awards and holding lines for Judith Marks

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	1,717	1,938

Reconciliation: minor difference of 10 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Nazzic Keene

Minor difference of 5 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

512

728

no sales

Vesting, gifts, unvested awards and holding lines for Nazzic Keene

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	512	728

Reconciliation: minor difference of 5 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Lynn Good

Started reporting during the period; starting holdings are from the Form 3.

Director

122

no sales

Vesting, gifts, unvested awards and holding lines for Lynn Good

0shares vested or exercised

0gifted (net of own trusts)

0 → 30unvested awards, start → end

Started reporting during the period; starting holdings are from the Form 3.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
In a revocable trust with Mr. Brian Good named as trustee	Common Stock	122	122

14 of 21 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (1 exactly, 13 with a minor or footnoted difference). For 7 we show sales but not holdings; the ! icon on their rows explains why. Percentages cover 14 of 21 officers and directors. Left out: Bob De Lange, Anthony Fassino, Joseph Creed, Kyle Epley, Derek Owens, Rodney Shurman and Christine Pambianchi (holdings couldn't be fully reconciled). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$253M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $253M across 340,216 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $29.3M · 12%

88%

The lighter segment is sales with no plan disclosed in the filing ($224M), including tax-related sales outside a plan.

No plan disclosed · $224M

Sales with no 10b5-1 plan and no tax reference in the filing. $78.7M of it is Bob De Lange. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Bob De Lange, Feb 6, 2026

Taxes

144,256 shares ($108M) were withheld by the company for taxes, which isn't a market sale.

Purchases · 1 buyer (2 trades)

1 officer or director bought shares in this period, in 2 trades(Form 4 code P, leaving out rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust). Across all their filings on record there are 19 purchase trades.

Charitable gifts · 3.6K shares

Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Bob De Lange Group President	106K	$78.7M	0%	31%	Nov 5, 2025 to May 6, 2026
Anthony Fassino Group President	58K	$45.8M	0%	18%	Nov 10, 2025 to May 11, 2026
Denise Johnson Group President	58K	$43.7M	0%	17%	Feb 2, 2026 to May 14, 2026
Joseph Creed Chief Executive Officer	35K	$28.0M	6%	11%	Mar 5, 2026 to Aug 28, 2026
Andrew Bonfield CFO Emeritus	36K	$25.9M	44%	10%	Dec 1, 2025 to May 6, 2026
Jason Kaiser Group President	18K	$12.3M	60%	5%	Nov 11, 2025 to May 4, 2026
Donald Umpleby III Executive Chairman	17K	$8.7M	100%	3%	Oct 10, 2025 to Oct 10, 2025
Rodney Shurman Group President	9.7K	$8.2M	0%	3%	Feb 17, 2026 to May 5, 2026
William Schaupp Chief Accounting Officer	2.5K	$1.8M	0%	0.7%	Nov 5, 2025 to May 13, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$8.7M	$8.7M	$0	$0
Nov 2025	$19.6M	$6.0M	$0	$13.6M
Dec 2025	$11.5M	$11.5M	$0	$0
Jan 2026	$0	$0	$0	$0
Feb 2026	$97.7M	$1.3M	$0	$96.4M
Mar 2026	$1.8M	$1.8M	$0	$0
Apr 2026	$0	$0	$0	$0
May 2026	$87.6M	$0	$0	$87.6M
Jun 2026	$0	$0	$0	$0
Jul 2026	$0	$0	$0	$0
Aug 2026	$26.2M	$0	$0	$26.2M
Sep 2026	$0	$0	$0	$0
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

More than usual: about 2.2x the 5-year average. 9 insiders sold; the average is 6 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 9, 2026 Latest 12 months	340K	9	$253M
Oct 9, 2025 1 year earlier	91K	9	$37.5M
Oct 9, 2024 2 years earlier	99K	4	$32.7M
Oct 10, 2023 3 years earlier	205K	7	$42.1M
Oct 10, 2022 4 years earlier	104K	5	$23.4M
Oct 10, 2021 5 years earlier	281K	7	$56.1M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty7 insiders whose holdings couldn't be fully reconciled

Bob De Lange: holdings couldn't be fully reconciled (difference of 980 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +606 shares on Nov 5, 2025 (Direct). Filing, Nov 5, 2025

Footnote: "Includes adjustments for dividends accrued."

Anthony Fassino: holdings couldn't be fully reconciled (difference of 542 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +313 shares on Nov 10, 2025 (Direct). Filing, Nov 10, 2025

Footnote: "Includes adjustments for dividends accrued."

Joseph Creed: holdings couldn't be fully reconciled (difference of 318 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +134 shares on Feb 10, 2026 (Direct). Filing, Feb 10, 2026

Footnote: "Includes adjustments for dividends accrued."

Kyle Epley: holdings couldn't be fully reconciled (difference of 1,217 shares). Balance changed with no matching transaction and no footnote: +1,217 shares on May 8, 2026 (Direct). Filing, May 8, 2026

Derek Owens: holdings couldn't be fully reconciled (difference of 54 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +45 shares on Feb 10, 2026 (Direct). Filing, Feb 10, 2026

Footnote: "Includes adjustment for dividends accrued."

Rodney Shurman: holdings couldn't be fully reconciled (difference of 1,498 shares). Balance changed with no matching transaction and no footnote: +1,439 shares on Feb 10, 2026 (Direct). Filing, Feb 10, 2026

Christine Pambianchi: holdings couldn't be fully reconciled (difference of 26 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +26 shares on Mar 2, 2026 (Direct). Filing, Mar 2, 2026

Footnote: "Includes adjustment for dividends accrued."

Donald Umpleby III: minor difference of 97 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 42 shares from stock units or awards that vested.

Andrew Bonfield: minor difference of 50 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 1 shares from stock units or awards that vested.

Denise Johnson: minor difference of 116 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 100 shares from stock units or awards that vested.

Debra Reed: minor difference of 117 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Jason Kaiser: minor difference of 38 shares. Difference is under 0.5% of holdings.

Rayford Wilkins Jr.: minor difference of 82 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

David MacLennan: minor difference of 18 shares. Difference is under 0.5% of holdings.

Susan Schwab: minor difference of 59 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

James Fish Jr.: minor difference of 4 shares. Difference is under 0.5% of holdings.

Gerald Johnson: minor difference of 37 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

William Schaupp: minor difference of 4 shares. Footnotes say what happened but give no amount, so the amounts are derived from the balance changes: 1 shares to cover taxes (approximate).

Judith Marks: minor difference of 10 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Nazzic Keene: minor difference of 5 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Inferred rename: "Spouse" is treated as the same holder as "Owned by Wife", because the old name was never reported again and the new one opened with the same balance (11,902 shares). Old name, new name

Inferred rename: "Daughter" is treated as the same holder as "Owned by Daughter", because the old name was never reported again and the new one opened with the same balance (405 shares). Old name, new name

Inferred rename: "Owned by Daughter & Son" is treated as the same holder as "Owned by Daughter", because the old name was never reported again and the new one opened with the same balance (0 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology3,723 filings from SEC EDGAR, and how we read them

All 3,723 Forms 3, 4 and 5 filed for Caterpillar Inc. (SEC CIK 18230) from Oct 26, 1998 to Oct 1, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 2 filings were left out because Caterpillar Inc. filed them as an owner of another company's stock. 126 older filings exist only on paper and could not be read.

Probable 2-for-1 stock split on or before Jul 14, 2005 (split date stated in a footnote). Splits aren't reported as transactions; 20 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (77)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Cheryl Johnson	Mar 5, 2025	15,510 shares, last reported balance as of Mar 4, 2025
Daniel Dickinson	Dec 6, 2024	4,728 shares, last reported balance as of Dec 5, 2024
David Calhoun	Apr 1, 2024	75,415 shares, last reported balance as of Jun 14, 2023
Kelly Ayotte	Jun 15, 2023	6,113 shares, last reported balance as of Jun 14, 2023
Suzette Long	Jun 9, 2023	14,032 shares, last reported balance as of Jun 7, 2023
Edward Rust Jr.	Jun 10, 2022	47,382 shares, last reported balance as of Jun 8, 2022
Miles White	Mar 2, 2022	8,382 shares, last reported balance as of Mar 1, 2022
Gary Marvel	Feb 17, 2022	1,641 shares, last reported balance as of Feb 16, 2022
Juan Gallardo	Apr 2, 2021	276,550 shares, last reported balance as of Mar 2, 2021
William Osborn	Mar 3, 2021	54,199 shares, last reported balance as of Mar 1, 2021
William Ainsworth	Jan 25, 2021	67,847 shares, last reported balance as of Jan 21, 2021
Ramin Younessi	Nov 4, 2020	16,177 shares, last reported balance as of Nov 2, 2020
Dennis Muilenburg	Mar 6, 2019	12,966 shares, last reported balance as of Mar 4, 2019
Jananne Copeland	Feb 14, 2019	8,895 shares, last reported balance as of Feb 12, 2019
Thomas Pellette	Feb 14, 2019	43,541 shares, last reported balance as of Feb 12, 2019
Robert Charter	Mar 7, 2018	31,900 shares, last reported balance as of Feb 13, 2018
Bradley Halverson	Feb 15, 2018	40,082 shares, last reported balance as of Feb 13, 2018
James Buda	May 3, 2017	45,496 shares, last reported balance as of May 1, 2017
Douglas Oberhelman	Apr 3, 2017	245,234 shares, last reported balance as of Jan 20, 2017
Douglas Oberhelman	Apr 3, 2017	38,000 shares, last reported balance as of Jan 20, 2017
Jesse Greene Jr.	Mar 8, 2017	14,948 shares, last reported balance as of Mar 6, 2017
Jon Huntsman Jr.	Mar 8, 2017	6,898 shares, last reported balance as of Mar 6, 2017
David Bozeman	Oct 4, 2016	25,558 shares, last reported balance as of May 2, 2016
Edward Rapp	Mar 9, 2016	73,084 shares, last reported balance as of May 2, 2015
Steven Wunning	Jan 7, 2015	138,647 shares, last reported balance as of Sep 9, 2014
Stuart Levenick	Jan 7, 2015	255,968 shares, last reported balance as of Jul 18, 2014
Peter Magowan	Jan 5, 2015	318,408 shares, last reported balance as of Mar 27, 2014
Charles Powell	Jan 2, 2014	17,691 shares, last reported balance as of Dec 31, 2013
David Goode	Jan 2, 2014	55,067 shares, last reported balance as of Mar 4, 2013
Joshua Smith	Mar 6, 2013	15,957 shares, last reported balance as of Mar 4, 2013
Gerard Vittecoq	Mar 6, 2013	128,883 shares, last reported balance as of Mar 1, 2013
Eugene Fife	Jan 3, 2013	40,784 shares, last reported balance as of Dec 31, 2012
Richard Lavin	Dec 18, 2012	83,018 shares, last reported balance as of Dec 17, 2012
John Brazil	May 9, 2011	11,389 shares, last reported balance as of May 5, 2011
John Dillon	Jan 4, 2011	31,787 shares, last reported balance as of Dec 31, 2010
James Owens	Oct 1, 2010	439,122 shares, last reported balance as of Sep 30, 2010
David Burritt	Jun 1, 2010	39,037 shares, last reported balance as of May 28, 2010
Frank Blount	Feb 4, 2010	18,033 shares, last reported balance as of Feb 3, 2010
Gail Fosler	Aug 6, 2009	8,515 shares, last reported balance as of Aug 5, 2009
Gerald Shaheen	Jul 27, 2007	206,480 shares, last reported balance as of Jul 25, 2007
Gordon Parker	Jun 15, 2006	27,911 shares, last reported balance as of Jun 14, 2006
John Heller	Feb 6, 2006	25,210 shares, last reported balance as of Feb 3, 2006
Christopher Curfman	Feb 6, 2006	21,474 shares, last reported balance as of Feb 3, 2006
Paolo Fellin	Feb 3, 2006	24,174 shares, last reported balance as of Feb 1, 2006
Robert Williams	Feb 3, 2006	50,315 shares, last reported balance as of Feb 2, 2006
Kent Adams	Feb 3, 2006	17,430 shares, last reported balance as of Feb 3, 2006
William Mayo	Feb 3, 2006	12,488 shares, last reported balance as of Feb 2, 2006
Rodney Bussell	Feb 2, 2006	60,720 shares, last reported balance as of Feb 1, 2006
Ali Bahaj	Feb 1, 2006	43,954 shares, last reported balance as of Jan 31, 2006
James Parker	Feb 1, 2006	21,056 shares, last reported balance as of Jan 31, 2006
Christiano Schena	Feb 1, 2006	44,349 shares, last reported balance as of Jan 31, 2006
Mary Bell	Feb 1, 2006	12,235 shares, last reported balance as of Jan 31, 2006
Mark Pflederer	Feb 1, 2006	12,563 shares, last reported balance as of Jan 31, 2006
Daniel Murphy	Feb 1, 2006	36,571 shares, last reported balance as of Jan 31, 2006
Steven Fisher	Feb 1, 2006	16,070 shares, last reported balance as of Jan 31, 2006
Gary Stroup	Jan 27, 2006	85,592 shares, last reported balance as of Jan 26, 2006
Gerald Palmer	Jan 27, 2006	34,809 shares, last reported balance as of Jan 26, 2006
Donald Western	Jan 18, 2006	62,245 shares, last reported balance as of Dec 15, 2005
Sidney Banwart	Dec 14, 2005	68,754 shares, last reported balance as of Dec 13, 2005
William Springer	Dec 7, 2005	26,014 shares, last reported balance as of Dec 7, 2005
Thomas Gales	Dec 7, 2005	61,414 shares, last reported balance as of Nov 30, 2005
James Waters Jr.	Dec 2, 2005	13,172 shares, last reported balance as of Dec 1, 2005
William Rohner	Nov 23, 2005	15,006 shares, last reported balance as of Nov 22, 2005
Robert Macier	Nov 15, 2005	76,394 shares, last reported balance as of Nov 14, 2005
Hans Haefeli	Nov 2, 2005	13,541 shares, last reported balance as of Nov 1, 2005
Stephen Gosselin	Nov 1, 2005	17,925 shares, last reported balance as of Oct 31, 2005
Rodney Beeler	Jul 28, 2005	13,510 shares, last reported balance as of Jul 27, 2005
Kevin Colgan	Jun 8, 2005	64,160 shares, last reported balance as of Jun 6, 2005
James Beard	Apr 21, 2005	50,276 shares, last reported balance as of Feb 17, 2005
Michael Baunton	Feb 22, 2005	36,980 shares, last reported balance as of Feb 18, 2005
Lynn McPheeters	Feb 3, 2005	111,514 shares, last reported balance as of Feb 1, 2005
Richard Benson	Feb 3, 2005	126,246 shares, last reported balance as of Feb 1, 2005
Richard Thompson	Jul 1, 2004	315,906 shares, last reported balance as of Jul 1, 2004
Donald Ings	Jul 1, 2004	109,952 shares, last reported balance as of Jul 1, 2004
Sherril West	Feb 2, 2004	51,094 shares, last reported balance as of Jan 31, 2004
Glen Barton	Feb 2, 2004	276,864 shares, last reported balance as of Jan 31, 2004
Vito Baumgartner	Feb 2, 2004	125,334 shares, last reported balance as of Jan 31, 2004

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Caterpillar Inc. insiders sold $253M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Common questions

Is the Caterpillar Inc. CEO selling stock?

Why are Caterpillar Inc. insiders selling?

Are any Caterpillar Inc. insiders buying?

How much of their stake did Caterpillar Inc. insiders sell?

The evidence

No plan disclosed · $224M

Taxes

Purchases · 1 buyer (2 trades)

Charitable gifts · 3.6K shares

Sales by month