Paccar Inc.
PACCAR Inc Announces Long Term Performance Cash Awards and Shareholder Votes
Summary
PACCAR Inc announced on April 28, 2025, the approval of Long Term Performance Cash Awards (LTIP Cash Awards) for the 2022-2024 cycle under the Long Term Incentive Plan for its Named Executive Officers. The total compensation for each Named Executive Officer was recalculated to include the LTIP Cash Awards. Additionally, the company disclosed the CEO pay ratio for 2024 as 189 to 1. The annual meeting of stockholders held on April 29, 2025, resulted in the election of directors, approval of executive compensation, ratification of independent auditors, and rejection of a stockholder proposal regarding a shareholder vote on excessive golden parachutes.
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About Paccar Inc.
Paccar Inc. is a leading global manufacturer specializing in the design and production of high-quality commercial vehicles. Its primary function is to produce durable trucks under renowned brands such as Kenworth, Peterbilt, and DAF, serving an extensive range of industries including freight, construction, and heavy-duty transportation sectors. Paccar also manufactures an array of diesel engines and provides financial services like leasing, lending, and insurance to support their customers’ business needs. The company plays a crucial role in the commercial vehicle market, known for its commitment to innovation and technological advancement in truck design, fuel efficiency, and safety features. With its headquarters in Bellevue, Washington, Paccar stands as a significant contributor to global logistics and infrastructure, enabling efficient goods movement and supply chain operations worldwide. Moreover, Paccar is involved in aftermarket support and distribution, ensuring comprehensive customer service and parts availability across its network, thus cementing its position as a pivotal player in the commercial transport sector.
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