Denise C. Johnson, a Group President at Caterpillar, sold 3,546 shares in the open market on May 13, 2026 at $909.46 per share, for total proceeds of about $3.22 million. As a senior operating leader, Johnson is closer than most insiders to business conditions, execution, and demand trends across parts of the company, which is why investors often pay attention to sales at this level. This transaction also adds to a cluster of insider selling at Caterpillar over the past few days. On the same date, William E. Schaupp sold about $326,000 worth of shares, and two days earlier Anthony D. Fassino sold roughly $14.15 million. Multiple sales by different executives in a short window can stand out because it suggests selling is not isolated to a single individual. That said, insider sales can happen for many personal reasons, such as taxes, diversification, or pre-set trading plans, and the filings don’t always spell out the motivation. The key takeaway for retail investors is that recent activity at CAT has been tilted toward selling, including by senior leadership, which can be useful context alongside earnings, guidance, and valuation.