What are the Long Term Performance Cash Awards (LTIP Cash Awards)?

The LTIP Cash Awards are a component of executive compensation approved by PACCAR's Compensation Committee for the 2023-2025 performance cycle. These awards are designed to incentivize and reward Named Executive Officers based on long-term performance.

What is the significance of the CEO to median employee pay ratio?

The CEO to median employee pay ratio is a regulatory disclosure that provides insight into the distribution of compensation within the company. A ratio of 198:1 for PACCAR indicates that the CEO's total compensation is 198 times that of the median employee. This metric is intended to offer transparency regarding executive pay relative to the broader workforce.

What were the key outcomes of the annual stockholder meeting?

The annual stockholder meeting resulted in the election of directors for a term expiring in 2027, advisory approval of executive compensation, and ratification of the independent auditors. All these proposals received majority shareholder support.

Are there any concerns raised by the voting results at the stockholder meeting?

While most directors and proposals received strong support, nominee M. A. Schulz received a notably lower 'For' vote compared to other directors, with a significant number of 'Against' votes and abstentions. This could indicate specific shareholder concerns regarding this particular nominee.

PCAR 8-K: Leadership Changes & Shareholder Matters

Summary

PACCAR INC (PCAR) filed an 8-K report on May 1, 2026, detailing key decisions made at its Compensation Committee meeting on April 27, 2026, and outcomes from its annual stockholder meeting held on April 28, 2026. The Compensation Committee approved Long Term Performance Cash Awards (LTIP Cash Awards) for the 2023-2025 cycle, recalculating the total compensation for Named Executive Officers. Notably, CEO R. P. Feight's total compensation, including these awards, reached $19,453,009. Additionally, the filing provides the CEO pay ratio for 2025, which stands at 198 to 1, with the CEO's compensation at $19,453,009 and the median employee's at $98,350. The annual meeting saw the re-election of directors, with overwhelming support for most nominees, although one nominee, M. A. Schulz, received a significantly lower "For" vote. Stockholders also provided advisory approval for executive compensation and ratified the independent auditors, both receiving majority support.

Key Highlights

1PACCAR's Compensation Committee approved Long Term Performance Cash Awards (LTIP Cash Awards) for the 2023-2025 cycle for Named Executive Officers.
2The CEO's total compensation, including LTIP Cash Awards, for the 2023-2025 cycle is reported at $19,453,009.
3The CEO to median employee pay ratio for 2025 is 198:1, with CEO compensation at $19,453,009 and median employee compensation at $98,350.
4The same median employee from 2023 was used for the 2025 pay ratio due to no significant changes in employee population or compensation arrangements.
5All incumbent directors, including CEO R. P. Feight, were elected to serve until 2027 with strong shareholder support.
6An advisory resolution to approve executive compensation received majority support from shareholders.
7The ratification of the independent auditors also received majority support from shareholders.

PACCAR INC 8-K Report, Executive Changes (May 1, 2026)

Summary

Key Highlights

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