PACCAR Inc. reported a Form 4 ownership change for Sreeganesh Ramaswamy on July 1, 2026, involving derivative securities connected to the company’s non-employee director compensation arrangements. The filing indicates changes in securities held through PACCAR’s Restricted Stock and Deferred Compensation Plan for Non-Employee Directors, or RSDCP. The reported securities are not described as open-market purchases or sales of PACCAR common stock. Instead, the filing refers to deferred phantom stock and restricted stock unit accounts tied to director compensation. According to the explanatory notes, stock units held in the deferred phantom stock account are convertible into PACCAR common stock on a 1-for-1 basis when Ramaswamy ceases to serve as a non-employee director. The filing also states that cash compensation was deferred into a phantom stock account under the same plan. A separate note describes restricted stock units held in the deferred phantom stock account under the RSDCP. Those units are also convertible into PACCAR common stock on a 1-for-1 basis, but only after applicable vesting conditions are satisfied. This means the filing reflects compensation-related equity or equity-equivalent interests that may convert into common shares in the future, rather than an immediate discretionary trade in the market. The excerpt provided does not include the transaction table values, such as the number of units acquired or disposed, transaction codes, prices, or the exact number of derivative securities beneficially owned after the reported transaction. It also does not show any corresponding open-market common stock transaction. The filing was signed on Ramaswamy’s behalf by Michael R. Beers under power of attorney.