Ronald N. Tutor, Chairman and CEO of Tutor Perini Corporation (TPC), has been a consistent seller of company stock over the past year, with SEC Form 4 filings showing no open-market purchases during the period. Across 51 transactions, Tutor disposed of approximately $78.5 million in TPC shares while acquiring only $2.75 million in value, almost entirely through option exercises and compensation awards rather than discretionary buying. The most recent activity, concentrated in March 2026, shows a pattern of option exercises paired with same-day sales back to the issuer—transactions coded "M" and "D"—totaling roughly $21.1 million on March 12-13 alone.
The selling bias is unambiguous when isolating open-market transactions. Between June 2025 and September 2025, Tutor executed a series of "S" coded sales totaling approximately $37.3 million, with individual trades ranging from $1.19 million to $6.31 million. The largest cluster occurred in late August 2025, when four separate sales over four trading days generated about $20.7 million in proceeds. Since that September 18 sale of $5.4 million, Tutor has not made any additional open-market sales, though he continued to dispose of shares through issuer buybacks and tax-related withholdings in March 2026.
The March 2026 filings also reveal non-monetary transactions that complicate the picture. Tutor received a compensation award (coded "A") on March 11, made gifts (coded "G") on March 8 and December 19, and had shares withheld to cover taxes (coded "F") worth $5.4 million on March 8. These transactions, combined with the absence of any "P" coded purchases across the entire filing history, indicate that Tutor's recent activity has been entirely on the disposition side—whether through planned sales, issuer repurchases, or automatic withholding—with no signal of fresh capital commitment to TPC shares.
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