November 15, 2025 · Form 4 insider transaction
SMALLEY GARY G. sold 41,460 shares of TUTOR PERINI CORP at $59.08 per share, a transaction worth $2.45M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 3 days after the transaction.
On November 15, 2023, the reporting person was granted 124,379 cash-settled phantom stock units, of which 41,459 and 41,460 vested on November 15, 2024 and 2025, respectively, and 41,460 will vest on November 15, 2026, contingent upon the reporting person's continued employment through the 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.