PACCAR INC — Director's Dealing 2004

Feb 10, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PACCAR INC (PCAR)
CIK: 0000075362
Period of Report: 2004-02-06

Reporting Person: TEMBREULL MICHAEL A (Director, VICE CHAIRMAN)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-06	COMMON STOCK	M	10000	$18.56	Acquired	31024	Direct
2004-02-06	COMMON STOCK	S	10000	$56.19	Disposed	21024	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-06	STOCK OPTION	$18.56	M	10000	Disposed	2010-01-25	COMMON STOCK (63672)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK (SIP)	32820.1	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
STOCK OPTION	$22.94	2011-01-24	COMMON STOCK (86449)	86449	Direct
STOCK OPTION	$28.20	2012-01-23	COMMON STOCK (71901)	71901	Direct
STOCK OPTION	$31.40	2013-01-15	COMMON STOCK (66498)	66498	Direct
STOCK OPTION	$56.95	2014-01-15	COMMON STOCK (36156)	36156	Direct
COMMON STOCK (LTIP)	$		COMMON STOCK (30094.2)	30094.2	Direct
COMMON STOCK (DICP)	$		COMMON STOCK (20107)	20107	Direct

Footnotes

F1: On December 9, 2003 PACCAR declared a stock dividend payable February 5, 2004 to all holders of record of common stock on January 19, 2004 of one additional share of common stock for every two shares of common stock. As a result of the stock dividend the reporting person received 7,008 additional shares of PACCAR common stock on February 5, 2004.

F2: Shares held in PACCAR Savings Investment Plan (SIP).

F3: As a result of the stock dividend the reporting person received 10,940 additional shares of PACCAR common stock on February 5, 2004.

F4: Option to buy awarded under PACCAR Long Term Incentive Plan (LTIP).

F5: This option was previously reported as an option for 49,115 shares of common stock at an exercise price of $27.83. Number of derivative securities, underlying securities and price adjusted to reflect 50% stock dividend. Reporting person received $16.28 for a fractional share, valued as of January 19, 2004.

F6: Number of derivative securities, underlying securities and price adjusted to reflect 50% stock dividend. Reporting person received $16.75 for a fractional share, valued as of January 19, 2004.

F7: Number of derivative securities, underlying securities and price adjusted to reflect 50% stock dividend.

F8: Share units held in deferred phantom stock account under LTIP convertible to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions.

F9: Number of derivative securities and underlying securities adjusted to reflect 50% stock dividend.

F10: Share units held in deferred phantom stock account under PACCAR Deferred Incentive Compensation Plan (DICP) convertible to common stock on a one-for-one basis upon satisfaction of all applicable vesting conditions.