CUMMINS INC — Director's Dealing 2018

Dec 19, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2018-12-17

Reporting Person: LINEBARGER NORMAN THOMAS (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-08-28	Common	G	20568.0000	$0.0000	Acquired	84418.0000	Direct
2018-08-28	Common	G	34485.0000	$0.0000	Disposed	49933.0000	Direct
2018-12-17	Common	M	24830.0000	$19.4200	Acquired	74763.0000	Direct
2018-12-17	Common	S	24830.0000	$133.1936	Disposed	49933.0000	Direct
2018-11-07	Common	G	3409.0000	$0.0000	Acquired	12948.0000	Indirect
2018-11-07	Common	G	3409.0000	$0.0000	Acquired	12948.0000	Indirect
2018-08-28	Common	G	20568.0000	$0.0000	Disposed	6818.0000	Indirect
2018-11-07	Common	G	6818.0000	$0.0000	Disposed	0.0000	Indirect
2018-08-28	Common	G	34485.0000	$0.0000	Acquired	34485.0000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-12-17	Stock Option (Right-to-Buy)	$19.4200	M	24830.0000	Disposed	2019-03-02	Common (24830.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	7852.4300	Indirect
Common	240.0000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right-to-Buy)	$58.1150	2020-03-01	Common (16360.0000)	16360.0000	Direct
Stock Option (Right-to-Buy)	$109.0900	2026-04-04	Common (131920.0000)	131920.0000	Direct
Stock Option (Right-to-Buy)	$111.8400	2023-04-02	Common (60100.0000)	60100.0000	Direct
Stock Option (Right-to-Buy)	$119.7700	2021-05-02	Common (13040.0000)	13040.0000	Direct
Stock Option (Right-to-Buy)	$120.2800	2022-04-02	Common (37510.0000)	37510.0000	Direct
Stock Option (Right-to-Buy)	$136.8200	2025-04-02	Common (60780.0000)	60780.0000	Direct
Stock Option (Right-to-Buy)	$149.3400	2024-04-02	Common (44890.0000)	44890.0000	Direct
Stock Option (Right-to-Buy)	$149.7200	2027-04-03	Common (85050.0000)	85050.0000	Direct
Stock Option (Right-to-Buy)	$160.1000	2028-04-03	Common (61700.0000)	61700.0000	Direct

Footnotes

F1: 20,568 shares held in the Grantor Retained Annuity Trust #2 were transferred to The Norman Thomas Linebarger Revocable Trust.

F2: 34,485 shares held by the reporting person in The Norman Thomas Linebarger Revocable Trust were transferred to the Grantor Retained Annuity Trust #3.

F3: Transactions pursuant to Rule 10b5-1 Trading Plan entered into on August 20, 2018.

F4: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $131.01 - $135.34. The reporting person undertakes to provide to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range indicated.

F5: Upon termination of the Grantor Retained Annuity Trust #2 by the reporting person, a total of 6,818 shares (3,409 each) were distributed to trusts for the benefit of the reporting person's children, of which the reporting person is the sole trustee.

F6: The number of shares is based on the dollar value of the reporting person's interest in the Cummins Stock Fund under the Company's 401(k) plan as most recently provided by the plan. The actual number of shares underlying the interest is not known since the Cummins Stock Fund is a unitized account consisting of approximately 98% common stock and 2% cash or cash equivalents.