CUMMINS INC. (NYSE:CMI) Files An 8-K Other EventsItem 8.01.
Other Events.
On May 25, 2017, Jill E. Cook, Vice President and Chief Human Resources Officer of Cummins Inc. (the “Company”), entered into a pre-arranged stock trading plan (the “Cook 10b5-1 Plan”) to sell a limited number of her shares of the Company’s Common Stock. The Cook 10b5-1 Plan allows for the sale of a maximum of 7,000 shares of Common Stock at a specified market price commencing sixty days after adoption of the Cook 10b5-1 Plan and continuing until all 7,000 shares are sold or May 25, 2018, whichever occurs first. Based on her current ownership of Common Stock, if all of the 7,000 shares of Common Stock subject to the Cook 10b5-1 Plan were sold, Ms. Cook would beneficially own approximately 11,666 shares of Common Stock.
The Plan was designed to comply with the Company’s insider trading policies and the guidelines specified in Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, which permit an officer or director to enter into a pre-arranged plan for buying or selling Company stock at a time when the officer or director is not in possession of material, nonpublic information about the Company. Ms. Cook will continue to be subject to the Company’s stock ownership guidelines, and the sales contemplated by the Plan will not reduce Ms. Cook’s ownership of Common Stock below the levels required by the guidelines.
All sales of Common Stock under the Plan will be disclosed publicly in accordance with applicable securities laws, rules and regulations through appropriate filings with the U.S. Securities and Exchange Commission.
About CUMMINS INC. (NYSE:CMI) Cummins Inc. is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, agricultural and governmental equipment markets. Its Distribution segment consists of various businesses, which service and/or distribute a range of its products and services, such as parts and filtration, power generation, engines and service. Its Components segment supplies products, including after treatment systems, turbochargers, filtration products and fuel systems for commercial diesel applications. The Power Generation segment provides power generation systems, components and services for a customer base, including power solutions and mobile power solutions. CUMMINS INC. (NYSE:CMI) Recent Trading Information CUMMINS INC. (NYSE:CMI) closed its last trading session up +0.36 at 157.70 with 1,231,748 shares trading hands.