Caterpillar Group Presidents Cash Out Millions After Exercising Stock Options

Caterpillar Inc. (CAT): Two group presidents exercised a large number of stock options between February 2 and 4 and sold part of the shares in the market, converting stakes worth tens of millions of dollars (tens of billions of Korean won) into cash. Even after share withholding to cover taxes, each still holds direct stakes valued in the tens of billions of won.

Anthony D. Fassino and Bob de Lange each exercised roughly 35,000 options and sold the bulk at approximately $680–705 per share. Their remaining holdings are estimated at about ₩30–70 billion apiece.

In its January 29 release of fourth-quarter 2025 results, Caterpillar reported record quarterly revenue of $19.1 billion (approximately ₩26 trillion) and full-year revenue of $67.6 billion (around ₩90 trillion), with backlog growing to an all-time high. The company projects 2026 revenue growth toward the upper end of its 5–7 percent target range. ()

At CES 2026 in early January, Caterpillar unveiled industrial AI applications, autonomous construction equipment and its conversational “Cat AI Assistant,” and announced expanded collaboration with NVIDIA—all part of an intensified AI and digital-transformation investment strategy aimed at future growth. ()

Headquartered in the U.S., Caterpillar is the world’s largest manufacturer of construction and mining equipment as well as diesel and gas engines. Its operations span construction equipment, resource industries, power and energy segments, and a financial services subsidiary—aligning its business with global infrastructure and resource-investment demand. ()

Caterpillar identifies expanded U.S. infrastructure spending, the energy transition and rising power demand from data-center growth as long-term drivers. Through 2030, it aims for 5–7 percent annual revenue growth while directing significant cash flows to shareholder returns via dividends and share repurchases. ()