Caterpillar CEO Cashes Out $26M Early on Options Package

Caterpillar CEO Joseph Creed exercised an options package four and a half years early, netting him $26.2 million.

The sale occurred on August 28 after he sold 32,401 shares of stock on the New York Stock Exchange. These shares had a March 2031 expiration date and a strike price of $219.76, allowing Creed to exercise them at 72% below the current market price.

Creed's options grant was from 2021, and this sale reduced his remaining balance to zero. However, he retains ownership of 34,555 shares of stock and another 11,839 shares in his 401(k) retirement account.