Stricker Travis 4
4 · Primoris Services Corp · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Primoris (PRIM) CAO Travis Stricker Withholds 2,904 Shares for Taxes
What Happened
Travis Stricker, Chief Accounting Officer of Primoris Services Corp (PRIM), had equity awards and derivative instruments settle on March 1, 2026, resulting in the acquisition of 8,301 shares. To satisfy tax obligations on the settlement, 2,904 shares were withheld (disposed) at a reported per-share value of $150.72, totaling $437,691. The transactions reflect vesting/settlement of restricted stock units and performance stock units rather than an open-market sale.
Key Details
- Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (no late filing indicated).
- Shares acquired via settlement/conversion: 4,758 (derivative/option exercise/conversion), 2,613 (performance stock units), and 930 (award/RSU) — total 8,301 shares acquired.
- Shares withheld to satisfy taxes (code F): 2,904 shares at $150.72 per share = $437,691.
- Some derivative entries show both acquisition and disposition at $0, consistent with conversion/settlement mechanics.
- Footnotes: vesting/settlement of restricted stock units (RSUs) and earned performance stock units (PSUs); withholding used to cover tax liability; certain RSUs have future vesting schedules (25%/25%/50% on 3/1/27, 3/1/28, 3/1/29).
- Shares owned after the reported transactions are not specified in the filing.
Context
These transactions are routine settlement and tax-withholding events tied to vested RSUs/PSUs and conversions of derivatives. Withholding shares to cover taxes is a common corporate practice and is not the same as an open-market sale that could imply a change in insider sentiment. The filing shows the mechanics (exercise/conversion and withholding) but does not indicate an independent cash sale by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-01+4,758→ 11,229 total - Award
Common Stock
[F2]2026-03-01+2,613→ 13,842 total - Tax Payment
Common Stock
[F3]2026-03-01$150.72/sh−2,904$437,691→ 10,938 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-03-01−4,758→ 2,267 total→ Common Stock (4,758 underlying) - Award
Restricted Stock Units
[F4][F5]2026-03-01+930→ 3,197 total→ Common Stock (930 underlying)
Footnotes (5)
- [F1]Each restricted stock unit represents a contingent right to receive one share of PRIM common stock or the cash value thereof on the date of settlement, in the Company's discretion. On March 1, 2026, the restricted stock units vested and were settled for an equal number of shares of PRIM common stock.
- [F2]These shares represent the acquisition of common stock resulting from the vesting of earned performance stock units issued under an equity incentive plan of the Company.
- [F3]Withholding of common stock to satisfy reporting person's tax obligation upon the settlement of vested restricted stock units and performance stock units.
- [F4]Each restricted stock unit represents a contingent right to receive one share of PRIM common stock or the cash value thereof on the date of settlement, in the Company's discretion.
- [F5]The restricted stock units vest 25% on March 1, 2027, 25% on March 1, 2028, and 50% on March 1, 2029.