PACCAR INC Files Definitive Proxy Statement for 2024 Annual Meeting

Ticker: PCAR · Form: DEF 14A · Filed: 2024-03-20T00:00:00.000Z

Sentiment: neutral

Topics: PACCAR, PCAR, DEF 14A, Proxy Statement, Executive Compensation

TL;DR

<b>PACCAR Inc has filed its Definitive Proxy Statement for the 2024 Annual Meeting, detailing executive compensation and corporate governance for the fiscal year 2023.</b>

AI Summary

PACCAR INC (PCAR) filed a Proxy Statement (DEF 14A) with the SEC on March 20, 2024. PACCAR Inc filed a Definitive Proxy Statement (DEF 14A) on March 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at PACCAR Building, 777 106th Avenue NE, Bellevue, WA 98004. PACCAR Inc was formerly known as PACIFIC CAR & FOUNDRY CO until July 7, 1972. The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking PACCAR INC, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation, director nominations, and other voting matters ahead of the annual meeting. Shareholders can review details on stock and option awards, pension plan values, and dividend payments to PACCAR's executives.

Risk Assessment

Risk Level: low — PACCAR INC shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance and disclosure practices without immediate financial or operational red flags.

Analyst Insight

Shareholders should review the proxy statement to make informed voting decisions on executive compensation and board nominations.

Key Numbers

Key Players & Entities

FAQ

When did PACCAR INC file this DEF 14A?

PACCAR INC filed this Proxy Statement (DEF 14A) with the SEC on March 20, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by PACCAR INC (PCAR).

Where can I read the original DEF 14A filing from PACCAR INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by PACCAR INC.

What are the key takeaways from PACCAR INC's DEF 14A?

PACCAR INC filed this DEF 14A on March 20, 2024. Key takeaways: PACCAR Inc filed a Definitive Proxy Statement (DEF 14A) on March 20, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at PACCAR Building, 777 106th Avenue NE, Bellevue, WA 98004..

Is PACCAR INC a risky investment based on this filing?

Based on this DEF 14A, PACCAR INC presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance and disclosure practices without immediate financial or operational red flags.

What should investors do after reading PACCAR INC's DEF 14A?

Shareholders should review the proxy statement to make informed voting decisions on executive compensation and board nominations. The overall sentiment from this filing is neutral.

How does PACCAR INC compare to its industry peers?

PACCAR Inc operates in the motor vehicle manufacturing industry, specifically focusing on heavy-duty trucks and related components.

Are there regulatory concerns for PACCAR INC?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders' voting decisions.

Industry Context

PACCAR Inc operates in the motor vehicle manufacturing industry, specifically focusing on heavy-duty trucks and related components.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders' voting decisions.

What Investors Should Do

  1. Review the compensation details for named executive officers.
  2. Examine proposals related to director elections and any shareholder proposals.
  3. Understand the voting procedures and record date for the annual meeting.

Year-Over-Year Comparison

This is the initial filing of the Definitive Proxy Statement for the 2024 annual meeting, following the previous fiscal year's disclosures.

Filing Stats: 4,690 words · 19 min read · ~16 pages · Grade level 9.4 · Accepted 2024-03-20 16:06:21

Key Financial Figures

Filing Documents

From the Filing

DEF 14A Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the RegistrantFiled by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Definitive Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Additional Materials Soliciting Material under Rule 14a-12 PACCAR INC (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 Table of Contents March 20, 2024 Dear Stockholder: You are cordially invited to attend the Annual Meeting of Stockholders of PACCAR Inc, which will be held in person at 10:30 a.m. on Tuesday, April 30, 2024, at the PACCAR Parts Distribution Center, located at 405 Houser Way North, Renton, Washington. Stockholders also have the option to view the Annual Meeting online at www.paccar.com/2024annualmeeting . The principal business of the Annual Meeting is stated on the attached Notice of Annual Meeting of Stockholders. We will also provide an update on the Company's activities. The Board of Directors recommends a vote FOR Items 1, 2, 3 and 4; a vote of THREE YEARS on Item 5; and a vote AGAINST Item 6. Your VOTE is important. Whether or not you plan to attend the Annual Meeting, please vote your proxy either by mail, telephone or the internet. Sincerely, Mark C. Pigott Executive Chairman of the Board Table of Contents Notice of Annual Meeting of Stockholders The Annual Meeting of Stockholders of PACCAR Inc will be held at 10:30 a.m. on Tuesday, April 30, 2024, in person at the PACCAR Parts Distribution Center, located at 405 Houser Way North, Renton, Washington, for these purposes: 1. To elect as directors the twelve nominees named in the attached proxy statement to serve a one-year term ending in 2025. 2. To approve the Third Amended and Restated Restricted Stock and Deferred Compensation Plan for Non-Employee Directors. 3. To vote on an advisory resolution to approve executive compensation. 4. To vote on an advisory basis on the ratification of the Company's independent auditors. 5. To vote on an advisory basis on the frequency (one, two or three years) of the stockholder advisory vote on executive compensation. 6. To vote on a stockholder proposal regarding a report on climate-related policy engagement if properly presented at the meeting. 7. To transact such other business as may properly come before the meeting. Stockholders entitled to vote at this meeting are those of record as of the close of business on March 5, 2024. IMPORTANT: The vote of each stockholder is important regardless of the number of shares held. Whether or not you plan to attend the meeting, please complete and return your proxy form. Directions to the PACCAR Parts Distribution Center can be found on the back cover of the attached proxy statement. Stockholders also have the option to view the Annual Meeting online at www.paccar.com/2024annualmeeting . By order of the Board of Directors M. R. Beers Secretary Bellevue, Washington March 20, 2024 Table of Contents TABLE OF CONTENTS General Information 1 Voting Rights 1 Voting by Proxy 1 Proxy Voting Procedures 1 Online Availability of Annual Meeting Materials 2 Multiple Stockholders Sharing the Same Address 2 Vote Required and Method of Counting Votes 2 Stock Ownership of Certain Beneficial Owners 4 Stock Ownership of Directors and Executive Officers 5 Expenses for Solicitation 6 Item1: Election of Directors 6 Board Governance 9 Compensation of Directors 13 Policies and Procedures for Transactions with Related Persons 14 Delinquent Section 16(a) Reports 14 Compensation of Executive Officers 15 Compensation Discussion and Analysis ("CD&A") 15 Compensation Committee Report 25 Summary Compensation 26 Grants of Plan-Based Awards 27 Outstanding Equity Awards at Fiscal Year-End 28 Option Exercises and Stock Vested 29 Pension Benefits 29 Nonqualified Deferred Compensation 31 Potential Payments Upon Termination or Change in Control 32 CEO Pay Ratio Disclosure 34 Pay Versus Performance Disclosure 35 Item2: Restricted Stock and Deferred Compensation Plan for Non-Employee Directors 38 Item3: Advisory Resolution to Approve Executive Compensation 39 Audit Committee Report 41 Independent Auditors 41 Item4: Advisory Vote on the Ratification of Independent Auditors 42 Stockholder Return Performance Graph 43 Item5: Advisory Vote on the Freque

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