CATERPILLAR INC — Director's Dealing 2025

Nov 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CATERPILLAR INC (CAT)
CIK: 0000018230
Period of Report: 2025-11-11

Reporting Person: Kaiser Jason (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-11	Common Stock	M	8881	$219.76	Acquired	17530	Direct
2025-11-11	Common Stock	F	3418	$570.85	Disposed	14112	Direct
2025-11-11	Common Stock	S	1040	$561.29	Disposed	13072	Direct
2025-11-11	Common Stock	S	1413	$562.27	Disposed	11659	Direct
2025-11-11	Common Stock	S	1640	$563.22	Disposed	10019	Direct
2025-11-11	Common Stock	S	280	$563.88	Disposed	9739	Direct
2025-11-11	Common Stock	S	37	$565.06	Disposed	9702	Direct
2025-11-11	Common Stock	S	400	$567.26	Disposed	9302	Direct
2025-11-11	Common Stock	S	653	$568.60	Disposed	8649	Direct
2025-11-11	Common Stock	M	8000	$196.70	Acquired	16649	Direct
2025-11-11	Common Stock	F	2756	$570.85	Disposed	13893	Direct
2025-11-11	Common Stock	S	1032	$561.29	Disposed	12861	Direct
2025-11-11	Common Stock	S	1260	$562.15	Disposed	11601	Direct
2025-11-11	Common Stock	S	1480	$563.22	Disposed	10121	Direct
2025-11-11	Common Stock	S	460	$564.09	Disposed	9661	Direct
2025-11-11	Common Stock	S	380	$567.35	Disposed	9281	Direct
2025-11-11	Common Stock	S	632	$568.65	Disposed	8649	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-11	Employee Stock Options	$219.76	M	8881	Disposed	2031-03-01	Common Stock (8881)	Direct
2025-11-11	Employee Stock Options	$196.70	M	8000	Disposed	2032-03-07	Common Stock (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	368	Indirect

Footnotes

F1: Includes adjustments for dividends accrued.

F2: This transaction was entered as multiple trades, as prices ranging from $560.79 to $561.73. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F3: This transaction was entered as multiple trades, as prices ranging from $561.77 to $562.76. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F4: This transaction was entered as multiple trades, as prices ranging from $562.81 to $563.79. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F5: This transaction was entered as multiple trades, as prices ranging from $563.87 to $563.79. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F6: This transaction was entered as multiple trades at $565.06. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F7: This transaction was entered as multiple trades, as prices ranging from $566.87 to $567.71. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F8: This transaction was entered as multiple trades, as prices ranging from $568.07 to $568.72. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F9: This transaction was entered as multiple trades, as prices ranging from $560.79 to $561.73. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F10: This transaction was entered as multiple trades, as prices ranging from $561.77 to $562.70. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F11: This transaction was entered as multiple trades, as prices ranging from $562.81 to $563.65. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F12: This transaction was entered as multiple trades, as prices ranging from $563.70 to $564.50. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F13: This transaction was entered as multiple trades, as prices ranging from $566.87 to $567.71. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F14: This transaction was entered as multiple trades, as prices ranging from $568.03 to $569.41. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

F15: The information in this report is based on a 401(k) plan statement dated as of October 31, 2025.

F16: The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 1, 2021 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date.

F17: The stock options were granted pursuant to the Caterpillar Inc. 2014 Long-Term Incentive Plan on March 7, 2022 and vest equally in 1/3 increments on the first, second and third anniversaries of the grant date.