Group President Bob De Lange executed a sequence of equity transactions in early February that included option exercises and a sizable sale of common stock, according to a Form 4 filing with the Securities and Exchange Commission.
On February 6, 2026, De Lange sold 22,656 shares of Caterpillar Inc. at prices that ranged between $720.02 and $721.01, producing proceeds of roughly $16.3 million. The same filing shows he exercised stock options to acquire 28,034 shares at an exercise price of $138.35 per share, for a total exercise amount of $3,878,503.
Following the option exercise, the filing discloses that 5,378 of the acquired shares were subsequently disposed of at $721.12 per share, yielding $3,878,183. After completing these transactions, De Lange directly holds 79,953 shares of Caterpillar common stock.
Company financials in the period
Separately, Caterpillar reported fourth-quarter 2025 results that outperformed expectations. The company posted earnings per share of $5.16, above the $4.70 projection, and reported quarterly revenue of $19.1 billion, exceeding forecasts by about 7%.
The earnings release did not identify any recent analyst upgrades or downgrades from major firms. The filing and the results together provide the only disclosed context for the insider activity; no statement about the motivation for the option exercise or the share disposals appears in the publicly filed Form 4 or in the earnings release.
Context and considerations
These transactions combine a standard option exercise with a contemporaneous sale of a portion of stock, leaving De Lange with a reported direct holding of 79,953 shares. Investors monitoring management transactions and corporate results will note both the insider activity and the company’s beat on earnings and revenue in the same reporting period.
Where available, regulatory filings and quarterly reports remain the primary sources for the numeric details disclosed: the number of shares sold and acquired, the range of sale prices, the fixed option exercise price, and the post-transaction direct ownership total.
Note: This article reflects only the details included in the company's Form 4 filing and its fourth-quarter 2025 financial disclosure. No additional motives, market reactions, or analyst actions beyond what was reported are asserted here.