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TUTOR PERINI CORP·4

Mar 13, 7:19 PM ET

TUTOR RONALD N 4

Research Summary

AI-generated summary

Updated

Tutor Perini (TPC) 10% Owner Ronald Tutor Sells 308,441 Shares

What Happened Ronald N. Tutor, a reported 10% owner of Tutor Perini Corporation (TPC), had two cash settlements of vested phantom stock units that are reported as dispositions back to the issuer. On March 12, 2026, 155,509 phantom units vested and were settled in cash at $69.20 per unit for proceeds of $10,761,223. On March 13, 2026, 152,932 phantom units vested and were settled in cash at $67.76 per unit for proceeds of $10,362,672. Combined proceeds from these settlements were $21,123,895. The filing also reports a grant on March 11, 2026 of 58,510 cash-settled phantom units that vest December 31, 2026 (contingent on continued employment).

Key Details

  • Transaction dates and prices:
    • 3/12/2026: 155,509 units settled at $69.20 → $10,761,223
    • 3/13/2026: 152,932 units settled at $67.76 → $10,362,672
    • 3/11/2026: grant of 58,510 phantom units (vests 12/31/2026)
  • Total shares reported as disposed (cash-settled): 308,441; total cash proceeds ≈ $21,123,895.
  • Shares owned after transaction: not specified in the provided filing excerpt.
  • Footnotes (summary):
    • F1/F2: The settled items were cash-settled phantom stock units granted in prior years and paid in cash on vesting; no market shares were bought or sold in settlement, but SEC rules require reporting as acquisitions and dispositions back to the issuer.
    • F3: The new 58,510-unit award vests on 12/31/2026, contingent on continued employment.
  • Filing timeliness: Form 4 was filed 2026-03-13 covering events through 2026-03-13; transactions appear to be reported within the normal two-business-day window.

Context

  • These were cash-settled phantom unit vestings (derivative awards) rather than open-market sales of owned stock. The reporting shows cash settlement proceeds, not purchases or open-market dispositions of previously held common shares.
  • As a reported 10% owner, Tutor is a significant insider; these awards and cash settlements are part of compensation/vesting mechanics rather than direct market trades indicating buy/sell decisions.