SMALLEY GARY G. sold TPC
March 13, 2025 · Form 4 insider transaction
SMALLEY GARY G. sold 57,349 shares of Tutor Perini Corporation at $24.65 per share, a transaction worth $1.41M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 1 day after the transaction.
Footnotes
On March 13, 2024, the reporting person was granted 172,048 cash-settled phantom stock units, of which 57,349 vest on each of March 13, 2025 and 2026, and 57,350 vest on March 13, 2027, 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.