Stricker Travis 4

What Happened

• Travis Stricker, Chief Accounting Officer of Primoris Services Corp (PRIM), received a grant of 5,000 restricted stock units (RSUs) on January 30, 2023. The Form 4 reports the grant as a derivative award with a reported acquisition price of $0.00 (typical for RSU grants — value realized upon vesting/settlement). This is an award/grant transaction (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2023-01-30; transaction type: Award/Grant (derivative).
• Shares/units granted: 5,000 RSUs; reported acquisition price: $0.00.
• Vesting schedule (footnote): 25% on Jan 30, 2024; 25% on Jan 30, 2025; 50% on Jan 30, 2026.
• Footnote on settlement: Each RSU represents a contingent right to receive one share of PRIM common stock or cash value at the company’s discretion.
• Filing timeliness: This Form 4 was filed late due to an administrative error (footnote) — the filing indicates a late report (L) but attributes it to an administrative mistake.
• Shares owned after the transaction: not provided in the details shared here.

Context

• RSUs are a deferred compensation award: they do not transfer shares until they vest (or are settled in cash), so this grant does not represent an immediate purchase or sale of stock. For retail investors, grants signal company compensation alignment with executives but do not directly indicate buying/selling intent. The late filing is disclosed by the insider and noted in the filing; it is a reporting compliance issue rather than evidence of trading activity.