BAXTER WARNER L 4

What Happened

• Baxter Warner L, a director of Quanta Services (PWR), received an award of 249 restricted stock units (RSUs) on May 21, 2026. The Form 4 reports the grant as a derivative acquisition (code A) at $0.00 per unit (no cash paid by the insider at grant).
• This is a compensation award (not an open-market purchase or sale) and therefore is typically part of director pay rather than a direct market sentiment trade.

Key Details

• Transaction date: 2026-05-21; Form 4 filed: 2026-05-26 (filed 5 calendar days after the transaction; appears later than the standard 2-business-day Form 4 filing window).
• Grant: 249 RSUs; reported price: $0.00 (derivative award).
• Shares owned after transaction: not disclosed in the filing.
• Footnotes of note:
  • F1: RSUs settle one-for-one into common shares, though the reporting person may elect to settle up to 50% in cash.
  • F2: Unless otherwise provided, the RSUs vest and settle on June 1, 2027; settlement may be deferred under the company’s nonqualified deferred compensation plan.
• Transaction code: A (award/grant). No 10b5-1 plan, tax-withholding sale, or immediate sale was reported.

Context

• RSU grants are common for directors and executives as compensation and do not necessarily indicate buying or selling intent. These awards typically convert to shares at vesting or are partially cashed out per the election described in the footnotes.
• Because the filing was submitted several days after the transaction date, investors tracking insider timeliness should note the delayed disclosure.