Jason Kaiser's Phantom Stock Units Transaction at Caterpillar Inc.

On October 24, 2025, Jason Kaiser, Group President at Caterpillar Inc., acquired 14 phantom stock units under the company's non-qualified deferred compensation plan. Each phantom stock unit is the economic equivalent of one share of Caterpillar Inc. common stock. The transaction was priced at $522.73 per unit, and following this transaction, Kaiser holds a total of 5,178 phantom stock units. These units are to be settled in cash upon Kaiser's retirement or separation from service. The phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash, and the number of units may change due to adjustments for dividends accrued and differences in the percentages of cash and stock in the unitized fund.