Short answer
Paccar (PCAR) filed an 8-K current report with the SEC on May 1, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 5.07 (Submission of Matters to a Vote of Security Holders). 2023–2025 LTIP awards materially increased reported executive compensation.
Paccar 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- 2023–2025 LTIP awards materially increased reported executive compensation
- CEO R. P. Feight received $19.45M LTIP cash award and $19.45M total compensation
- Other named executives received LTIP awards ranging from $2.16M to $5.04M
- CEO-to-median-worker pay ratio reached 198:1, based on $19.45M versus $98,350 compensation
- Compensation figures reflect performance-cycle payouts, not recurring annual salary levels
Item 5.07 · Submission of Matters to a Vote of Security Holders
- Shareholders elected all 12 director nominees, with M. A. Schulz receiving the strongest opposition at 63,686,066 votes against
- Executive compensation advisory proposal approved by majority of outstanding shares, with 25,777,225 votes against
- Shareholders ratified independent auditors, receiving 459,284,605 votes for versus 22,031,967 against
- All directors’ terms expire in 2027, preserving board continuity for the coming year
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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