8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 18, 2019

PACCAR Inc

(Exact name of registrant as specified in its charter)

Delaware	001-14817	91-0351110
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

777 106th Avenue NE, Bellevue, WA 98004

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (425) 468-7400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for

complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 18, 2019, PACCAR announced that its Board of Directors had elected R. Preston Feight, age 51, as chief executive officer (CEO) effective July 1, 2019. Mr. Feight was also elected as a member of the Board of Directors effective on the same date. Mr. Feight is currently executive vice president of PACCAR. Ronald E. Armstrong, currently CEO, will retire from PACCAR and its Board of Directors on June 30, 2019.

As CEO, Mr. Feight will receive an annual salary of $1.2 million and will be eligible for annual variable compensation.

Mr. Feight has been with PACCAR for twenty-one years with leadership roles as President of DAF Trucks, Vice President and General Manager of Kenworth Truck Company as well as Assistant General Manager Sales and Marketing and Chief Engineer at Kenworth. He earned a B.S. degree in Mechanical Engineering from Northern Arizona University and an M.S. degree in Engineering Management from the University of Colorado.

There are no arrangements or understandings between Mr. Feight and any other persons pursuant to which he was appointed Chief Executive Officer and elected as a member of the Board of Directors. There are also no family relationships between Mr. Feight and any director or executive officer of PACCAR and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Item 7.01 Financial Statements and Exhibits

On April 18, 2019, PACCAR issued a press release announcing the appointment of Mr. Feight and the retirement of Mr. Armstrong attached as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

The following is furnished as an Exhibit to this Report.

Exhibit Number	Description
99.1	Press release of the Registrant, dated April 18, 2019.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		PACCAR Inc
Date: April 19, 2019	By:	/s/ D. S. Grandstaff
		D. S. Grandstaff
		Vice President and General Counsel

EX-99.1

Exhibit 99.1

Press Release	PACCAR Inc     Public Affairs Department         P.O. Box 1518             Bellevue, WA 98009
	Contact:	Ken Hastings 425.468.7530

FOR IMMEDIATE RELEASE

PACCAR Names Preston Feight as Chief Executive Officer

April 18, 2019, Bellevue, Washington – PACCAR Inc announced today that its Board of Directors has elected Preston Feight as chief executive officer (CEO) effective July 1, 2019. Mr. Feight was also elected as a member of the Board of Directors, effective on the same date. Preston Feight is currently executive vice president of PACCAR and succeeds Ron Armstrong who has served as the company’s chief executive officer since April 2014. Ron Armstrong will retire from the company and the Board on June 30, 2019. Mark Pigott remains as executive chairman and will continue to provide strategic counsel to the company.

“Preston Feight is an outstanding leader who has made significant contributions to PACCAR’s excellent record of profitable growth and its industry-leading products and services,” shared Mark Pigott. “I congratulate Preston on his promotion to chief executive officer and welcome him to the Board. On behalf of the Board and all PACCAR employees, I would like to thank Ron Armstrong for his five excellent years of outstanding leadership and strategic vision as PACCAR’s chief executive officer.”

Mr. Armstrong’s 25 years with PACCAR has seen the company enhance its global technology leadership. During his tenure as CEO, PACCAR achieved many records, including revenue, net income, and stockholders’ equity, introduced new products and increased market share.

A long-time industry leader, Preston Feight, age 51, has been instrumental in PACCAR delivering revenue and profit growth, in addition to having an integral role in the development of many of PACCAR’s vehicle and powertrain products. Preston has been with PACCAR for twenty-one years with leadership roles as President of DAF Trucks, Vice President and General Manager of Kenworth Truck Company as well as Assistant General Manager Sales and Marketing and Chief Engineer at Kenworth. Preston earned a BS degree in Mechanical Engineering from Northern Arizona University and a MS degree in Engineering Management from the University of Colorado.

“This year, PACCAR is celebrating its 114th year and the company is the quality and innovation leader in its industry. PACCAR has an excellent record of outstanding financial performance, industry leading commercial vehicles, as well as innovative aftermarket parts and financial services,” said Preston Feight. “PACCAR’s technology focus has positioned the company as a leader in advanced powertrains such as diesel, electric and hydrogen fuel cells, as well as sophisticated driver assistance systems and truck connectivity. PACCAR’s truck factories and distribution facilities are world class with integrated manufacturing systems. I thank Mark and the Board for the privilege to lead PACCAR and its 28,000 employees in our goal of delivering profitable growth, superb customer service, and excellent shareholder returns.”

PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced diesel engines, provides financial services and information technology, and distributes truck parts related to its principal business. PACCAR shares are listed on the NASDAQ Global Select market, symbol PCAR. Its homepage is www.paccar.com.