March 13, 2025 · Form 4 insider transaction
TUTOR RONALD N sold 152,932 shares of Tutor Perini Corporation at $24.65 per share, a transaction worth $3.77M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 1 day after the transaction.
On March 13, 2024, the reporting person was granted 458,795 cash-settled phantom stock units, of which 152,932 vest on each of March 13, 2025 and 2026, and 152,931 vest on December 31, 2026, contingent upon the reporting person's continued employment through each applicable vesting date. These phantom stock units are considered derivative securities settled in cash at a value equal to the number of units vested multiplied by the closing price per share of common stock of Tutor Perini Corporation (Issuer) on the applicable 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.