December 31, 2025 · Form 4 insider transaction
SMALLEY GARY G. sold 477,454 shares of TUTOR PERINI CORP at $67.02 per share, a transaction worth $32.00M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 2 days after the transaction.
On January 1, 2023, the reporting person was granted 238,727 cash-settled performance stock units (Target Award) that vest and are earned from 0-200% of Target Award based upon the achievement of certain annualized stock price growth goals over a three-year performance period. On December 31, 2025, 200% of the Target Award was earned and vested. The cash settlement amount equals the number of units that vested multiplied by the closing price of the common stock of Tutor Perini Corporation (Issuer) on the vesting date. The reporting person did not purchase or sell any shares of common stock in the settlement of this award, however, the transaction is required to be reported as an acquisition and disposition back to the Issuer under SEC reporting principles.