Caterpillar CEO Boosts Deferred Compensation Plan with New Phantom Stock Units

Caterpillar CEO Joseph E. Creed has made an update to his deferred compensation plan, acquiring 19 phantom stock units on August 26, 2026.

The units consist of two parts: 10 shares credited at $821.93 per share under the Supplemental Deferred Compensation Plan and 9 shares contributed without consideration as per plan terms.

All 19 units are held directly by Creed and classified as derivative securities. Following this transaction, he beneficially owns 11,291 phantom stock units, including adjustments for accrued dividends.

The phantom stock units represent interests in an unfunded unitized company stock fund made up of stock and cash. They have no expiration date and will be settled entirely in cash upon Creed's retirement or separation from service.