CAT · Caterpillar Inc · Executive Compensation

$809.19 -6.37 (-0.78%)

S&P 500 member Russell 1000 member Dow 30 member Rebalance outlook locked

Market Cap

$379.35B

459.67M

Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.

Fiscal 2025

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Executive Chairman	$1,414,583	—	$13,080,611	$4,227,829	$2,509,300	$959,173	$22,191,496
Joseph E. Creed	CEO	$1,381,892	—	$9,538,484	$3,101,117	$2,476,800	$509,784	$17,008,077
CHRISTY M. PAMBIANCHI	CHRO	$566,667	$450,000	$7,907,120	$692,171	$660,500	$398,458	$10,674,916
ANDREW R. J. BONFIELD	CFO	$991,575	—	$3,662,325	$1,183,771	$1,320,200	$289,828	$7,447,699
DENISE C. JOHNSON	Group President	$985,825	—	$2,765,492	$893,866	$1,201,900	$305,268	$6,152,351
BOB DE LANGE	Group President	$925,525	—	$2,765,492	$893,866	$1,147,100	$288,692	$6,020,675

Fiscal 2024

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Executive Chairman	$1,811,250	—	$14,079,975	$4,125,037	$4,363,800	$881,234	$25,261,296
James Umpleby	Chairman and CEO	$1,811,250	—	$14,079,975	$4,125,037	$4,363,800	$881,234	$25,261,296
Joseph E. Creed	Chief Operating Officer	$1,115,000	—	$5,973,437	$1,749,968	$1,887,700	$404,460	$11,130,565
DENISE C. JOHNSON	Group President	$947,900	—	$5,157,307	$924,982	$1,374,500	$311,808	$8,716,497
BOB DE LANGE	Group President	$889,950	—	$5,157,307	$924,982	$1,299,200	$285,416	$8,556,855
ANDREW R. J. BONFIELD	CFO	$953,450	—	$4,095,869	$1,200,047	$1,434,400	$291,731	$7,975,497

Fiscal 2023

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
James Umpleby	Chairman and CEO	$1,752,500	—	$8,499,949	$8,500,034	$5,733,900	$1,343,949	$25,830,332
D. James Umpleby III	Executive Chairman	$1,752,500	—	$8,499,949	$8,500,034	$5,733,900	$1,343,949	$25,830,332
ANDREW R. J. BONFIELD	CFO	$916,800	—	$2,650,027	$2,649,989	$1,902,000	$241,123	$8,359,939
Suzette M. Long	Chief Legal Officer & General Counsel	$958,174	—	$2,449,891	$2,449,986	$1,586,400	$247,865	$7,692,316
DENISE C. JOHNSON	Group President	$911,450	—	$2,199,975	$2,199,962	$1,874,200	$312,957	$7,498,544
Joseph E. Creed	Chief Operating Officer	$819,092	—	$2,199,975	$2,199,962	$1,771,700	$253,746	$7,244,475
BOB DE LANGE	Group President	$855,700	—	$2,199,975	$2,199,962	$1,651,200	$305,254	$7,212,091

Fiscal 2022

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Chairman & CEO	$1,687,500	—	$6,749,957	$6,749,994	$4,614,800	$805,349	$20,607,600
James Umpleby	Chairman and CEO	$1,687,500	—	$6,749,957	$6,749,994	$4,614,800	$805,349	$20,607,600
ANDREW R. J. BONFIELD	CFO	$882,575	—	$2,200,090	$2,199,994	$1,501,900	$438,984	$7,223,543
BOB DE LANGE	Group President	$821,850	—	$1,849,964	$1,849,982	$1,440,600	$689,900	$6,652,296
DENISE C. JOHNSON	Group President	$877,425	—	$1,849,964	$1,849,982	$1,544,800	$464,372	$6,586,543
Joseph E. Creed	Chief Operating Officer	$702,425	—	$1,849,964	$1,849,982	$1,320,900	$257,654	$5,980,925

Fiscal 2021

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
James Umpleby	Chairman & CEO	$1,637,500	—	$8,749,964	$8,750,028	$4,792,980	$367,560	$24,298,032
D. James Umpleby III	Chairman & CEO	$1,637,500	—	$8,749,964	$8,750,028	$4,792,980	$367,560	$24,298,032
DENISE C. JOHNSON	Group President	$846,375	—	$2,550,095	$2,549,997	$1,771,100	$138,799	$7,856,366
BOB DE LANGE	Group President	$788,100	—	$2,499,990	$2,500,000	$1,772,000	$146,620	$7,706,710
ANDREW R. J. BONFIELD	CFO	$853,000	—	$2,599,981	$2,599,993	$1,524,600	$118,062	$7,695,636
Joseph E. Creed	Chief Operating Officer	$665,000	—	$2,499,990	$2,500,000	$1,227,300	$289,991	$7,182,281

Fiscal 2020

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Chairman & CEO	$1,600,000	—	$5,899,969	$5,900,000	—	$276,582	$13,676,551
William P. Ainsworth	Group President	$740,100	—	$2,100,041	$2,099,993	—	$47,938	$4,988,072
DENISE C. JOHNSON	Group President	$820,500	—	$1,849,945	$1,849,993	—	$222,421	$4,742,859
BOB DE LANGE	Group President	$767,400	—	$1,849,945	$1,849,993	—	$213,557	$4,680,895
ANDREW R. J. BONFIELD	CFO	$832,000	—	$1,800,053	$1,800,009	—	$152,520	$4,584,582

Fiscal 2019

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Chairman & CEO	$1,575,000	—	$5,450,022	$6,704,943	$2,336,000	$291,954	$34,519,129
ANDREW R. J. BONFIELD	CFO	$824,000	—	$1,799,934	$2,214,477	$730,000	$479,732	$6,048,143
DENISE C. JOHNSON	Group President	$808,875	—	$1,799,934	$2,214,477	$840,000	$243,684	$5,906,970
William P. Ainsworth	Group President	$754,250	—	$1,799,934	$2,214,477	$744,000	$30,499	$5,543,160
BOB DE LANGE	Group President	$761,800	—	$1,600,018	$1,968,433	$820,000	$281,928	$5,432,179

Fiscal 2018

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Chairman & CEO	$1,425,000	—	$6,499,973	$8,448,354	$4,742,000	$282,721	$27,289,513
BOB DE LANGE	Group President The amounts reported in this column represent PRSUs granted in 2020 under the Caterpillar Inc. 2014 Long-Term Incentive Plan (LTIP) and are valued based on the aggregate grant date fair value computed in accordance with FASB ASC Topic 718, assuming the highest level of performance is achieved for the PRSUs, which at the time of grant reflected the probable level of achievement. Assumptions made in the calculation of these amounts are included in Note 3 “Stock-based compensation” to the Company’s consolidated financial statements for the fiscal year ended December 31, 2020, included in the Company’s Form 10-K filed with the SEC on February 17, 2021. The amounts reported in this column represent non-qualified stock options granted under the LTIP that are valued based on the aggregate grant date fair value computed in accordance with FASB ASC Topic 718. Assumptions made in the calculation of these amounts are included in Note 3 “Stock-based compensation” to the Company’s consolidated financial statements for the fiscal year ended December 31, 2020, included in the Company’s Form 10-K filed with the SEC on February 17, 2021. As described on page 31, no annual incentive plan payments were made for 2020 due to the potential impact of the COVID-19 pandemic on Caterpillar’s business. No NEO receives preferential or above market earnings on nonqualified deferred compensation. Amounts above reflect the actuarial present value of the NEO's change in accrued benefit under all defined benefit pension plans year over year using the pension plan measurement dates for financial statement reporting purposes. See Retirement and Other Benefits on page 37 for descriptions of the pension plans, and the 2020 Pension Benefits table and related footnotes on page 43 for the present value of each NEO's accumulated pension benefits and information regarding actuarial assumptions used. All Other Compensation detail for 2020 is shown in a separate table appearing on the next page. To demonstrate how year-over-year changes in pension value impact total compensation, as determined under SEC rules, we have included this column to show total compensation without pension value changes. The amounts reported in this column are calculated by subtracting the change in pension value reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column, from the amounts reported in the Total Compensation column. The amounts reported in this column differ from, and are not a substitute for, the amounts reported in the Total Compensation column.	$725,001	—	$2,149,984	$2,794,444	$1,180,000	$453,190	$7,302,619
DENISE C. JOHNSON	Group President	$763,002	—	$2,000,073	$2,599,472	$1,677,000	$157,034	$7,196,581
ANDREW R. J. BONFIELD	CFO	$266,667	$800,000	$4,450,025	$993,465	$585,000	$86,030	$7,181,187

Fiscal 2017

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
D. James Umpleby III	Chairman & CEO	$1,200,000	$1,070,000	$3,288,528	$5,361,394	$2,430,000	$685,287	$14,035,209
BOB DE LANGE	Group President The amounts reported in this column represent PRSUs granted in 2019 under the Caterpillar Inc. 2014 Long-Term Incentive Plan (LTIP) and are valued based on the aggregate grant date fair value computed in accordance with FASB ASC Topic 718, assuming the highest level of performance is achieved for the PRSUs, which at the time of grant reflected the probable level of achievement. Assumptions made in the calculation of these amounts are included in Note 3 “Stock-based compensation” to the Company’s consolidated financial statements for the fiscal year ended December 31, 2019, included in the Company’s Form 10-K filed with the SEC on February 19, 2020. The amounts reported in this column represent non-qualified stock options granted under the LTIP that are valued based on the aggregate grant date fair value computed in accordance with FASB ASC Topic 718. Assumptions made in the calculation of these amounts are included in Note 3 “Stock-based compensation” to the Company’s consolidated financial statements for the fiscal year ended December 31, 2019, included in the Company’s Form 10-K filed with the SEC on February 19, 2020. The amounts in this column reflect the AIP payments for 2019 for all NEOs except Mr. Ainsworth whose incentive plan compensation consisted of both AIP and STIP. Because no “preferred” or “above market” earnings on compensation deferred into SDCP, SEIP, and/or DEIP are received, the amount shown represents only the change between the actuarial present value of each NEO’s total accumulated pension benefit between December 31, 2018 and December 31, 2019. The amount reported for Mr. Umpleby assumes the pension benefit is payable at his earliest unreduced retirement age. Upon his initial hire with Solar Turbines Inc, a wholly owned subsidiary of Caterpillar, on July 7, 1980, Mr. Umpleby became eligible to participate in the Solar Turbines Inc. Retirement Plan and the Solar Turbines Incorporated Managerial Retirement Objective Plan (Solar MRO). The Solar Turbines Inc. Retirement Plan was merged into the Retirement Income Plan (RIP) as of January 1, 2015; however, all benefit and eligibility provisions of the plan remain unchanged in the merger as described in Supplement O (Solar RP) to RIP. Mr. Umpleby’s change in pension value was primarily due to an increase in his annual pensionable earnings (which include base and annual cash incentive pay) resulting from an additional year of compensation as CEO. The pension benefit is based on the average of the highest consecutive 36 months of pensionable earnings in the 10-year period prior to the determination date of December 31, 2019, the same date on which the Solar RP and Solar MRO were frozen for all participating employees, including Mr. Umpleby. During Mr. Umpleby’s tenure as CEO, there have been no changes made to the plans’ benefit formula provisions (other than to freeze benefit accruals) and Mr. Umpleby’s benefit is determined in the same manner as any similarly situated management employee with a similar service and compensation history. All Other Compensation detail for 2019 is shown in a separate table appearing on the next page. To demonstrate how year-over-year changes in pension value impact total compensation, as determined under SEC rules, we have included this column to show total compensation without pension value changes. The amounts reported in this column are calculated by subtracting the change in pension value reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column, from the amounts reported in the Total Compensation column. The amounts reported in this column differ from, and are not a substitute for, the amounts reported in the Total Compensation column.	$664,221	—	$1,224,639	$1,996,648	$1,381,917	$2,455,278	$7,722,703

Executive changes

Person	Role	Change	Effective	Filed
Andrew R.J. Bonfield	Chief Financial Officer	Retired	2026-10-01	2026-04-10
Kyle Epley	Chief Financial Officer	Appointed	2026-05-01	2026-04-10
D. James Umpleby III	member of the Caterpillar Board of Directors	Retired	2026-04-01	2026-01-06
D. James Umpleby III	Executive Chairman	Retired	2026-04-01	2026-01-06
Joseph E. Creed	Chairman of the Board	Appointed	2026-04-01	2026-01-06
D. James Umpleby III	member of the Board	Resigned	2026-04-01	2026-01-06
D. James Umpleby III	Executive Chairman of the Board	Appointed	2025-05-01	2025-04-15
Joseph E. Creed	member of the Board	Appointed	2025-05-01	2025-04-15
Joseph E. Creed	Chief Executive Officer	Appointed	2025-05-01	2025-04-15

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