Jensen William E 4

What Happened

• William E. Jensen, Executive Vice President of Tutor Perini Corporation (TPC), had 6,479 phantom stock units vest on March 14, 2026. Those vested units were cash‑settled based on the closing share price ($67.76), producing proceeds of $439,017.
• The Form 4 reports an exercise/conversion of a derivative (code M) and a disposition to the issuer (code D). Under SEC reporting rules, the cash settlement of phantom units is reported as an acquisition and immediate disposition back to the issuer, even though no market shares changed hands.

Key Details

• Transaction date: March 14, 2026; filing date: March 16, 2026 (filed within typical Form 4 timing).
• Units/shares involved: 6,479 phantom stock units vested and were settled in cash.
• Price/value: settlement price = $67.76 per share; total cash settled ≈ $439,017.
• Footnote: These units were part of a 19,439-unit grant on March 14, 2025; vesting schedule was 6,479 on 3/14/26 and 6,480 on each of 3/14/27 and 3/14/28, contingent on continued employment.
• Shares owned after transaction: not disclosed in the filing.
• Filing timeliness: appears timely (reported two days after the vesting/settlement date).

Context

• This was a cash settlement of phantom (cash‑settled) stock units, not an open‑market sale of shares. The reporting shows acquisition and immediate disposition back to the issuer per SEC disclosure conventions; Jensen did not buy or sell common stock on the market as part of this transaction.
• Cash settlements are routine compensation events and do not necessarily indicate insider sentiment about the stock.