Ching Michael E. 4

What Happened Michael E. Ching, a director of Primoris Services Corp (PRIM), was granted 268 restricted shares on April 30, 2026, under the company's non-employee director compensation program. The grant is reported with a total value of $37,500 (implied price ≈ $139.93/share); the filing lists the per-share price as N/A but notes the grant was calculated using the average closing price in March 2026. The shares cannot be sold for 12 months from the grant date.

Key Details

• Transaction date: 2026-04-30 (Form 4 filed 2026-05-01) — filing appears timely.
• Transaction type/code: Award/Grant (A).
• Shares granted: 268; total reported value: $37,500 (implied ≈ $139.93 per share).
• Sale restriction: Shares cannot be sold for 12 months from grant date (per footnote).
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnote: Grant arises from the board-approved non-employee director compensation program (adopted May 2011, updated July 2024).

Context This was a compensation grant to a non-employee director, a routine non-market transaction common for board pay — not an open-market purchase or sale. Because the shares are restricted for 12 months, they cannot be immediately monetized; such awards primarily reflect regular compensation, not necessarily a direct signal of the director’s market view.