Assouri Kristiyan D 4

What Happened

• Kristiyan D. Assouri, EVP and Chief Legal Officer of Tutor Perini Corporation (TPC), had 5,831 vested cash-settled phantom stock units settled on March 12, 2026. The settlement is reported as an exercise/conversion of a derivative and an immediate disposition back to the issuer for $69.20 per share, resulting in proceeds of $403,505.
• This was a cash settlement of a phantom stock award (not an open-market sale or stock purchase). Because the award was cash-settled, no actual shares were bought or sold in the market; the reporting rules require showing an acquisition and a disposition back to the company.

Key Details

• Transaction date: March 12, 2026. Filing date: March 16, 2026 (Form 4 accession 0000077543-26-000061).
• Reported transactions: Exercise/conversion of derivative (code M) for 5,831 units and disposition to issuer (code D) of 5,831 shares at $69.20 each; total cash settlement $403,505.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote: These units come from a March 12, 2025 grant of 17,495 cash-settled phantom stock units (5,831 vested on 3/12/2026; remaining tranches vest in 2027 and 2028, contingent on continued employment). The reporting person did not actually purchase or sell common stock in the settlement; SEC reporting principles require the acquisition/disposition entries.
• Filing timeliness: Form lists the report period as 3/12/2026 and was filed 3/16/2026 — standard Form 4 deadline is within 2 business days of the transaction; investors may check the filing for timeliness details.

Context

• This was a cash settlement of vested phantom units (not a purchase), so it should not be interpreted as an insider buying stock. Cash settlements are routine compensation events and do not necessarily signal the insider’s view of the company’s stock price.