R. Preston Feight is the CEO of PACCAR Inc, a top company in the commercial vehicle industry known for brands like Kenworth and Peterbilt. He took the CEO role in July 2019 after spending over 21 years at PACCAR in...

Number of Employees

32.4K

Year

2023

Total Compensation

$5.05M

Salary

$1.54M

Board Justification

PACCAR's compensation philosophy emphasizes pay for performance, aligning executive compensation with the company's financial performance and shareholder returns.

Bonus

$3.49M

Board Justification

The bonus is based on the company's net income performance, with an overall payment of 180% of target due to exceeding net income goals.

Other

$21.36K

Board Justification

This includes company matching contributions to the 401(k) plan and other minor benefits.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock was vested in 2023 as the stock awards are granted based on performance metrics and are not included in this year's compensation.

Performance Metrics

The primary performance metric for the CEO's compensation is the company's net income.

SEC Filing

From March 20, 2024

R. Preston Feight

CEO of Paccar

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Education

B.S. in Mechanical Engineering from Northern Arizona University; M.S. in Engineering Management from the University of Colorado

Field of Expertise

Technology & Engineering - Engineering

Born

November 30, 1967 - 57 years ago

Is Founder?

No

Current Tenure

5 years 6 months (Jul 2019 - Present)

Previous Experience

21 years with PACCAR in leadership roles including President of DAF Trucks, Vice President and General Manager of Kenworth Truck Company.