Form 4: Centuri Holdings Director Charles R. Patton Receives Restricted Stock Units

Director Charles R. Patton was granted 6,904 restricted stock units (RSUs) of Centuri Holdings, Inc. on April 30, 2024, which will vest on the first anniversary of the grant date.

Summary

• Charles R. Patton, a director of Centuri Holdings, Inc. (CTRI), received a grant of 6,904 restricted stock units (RSUs) on April 30, 2024.
• These RSUs were granted pursuant to the Issuer's Omnibus Incentive Plan.
• Each RSU represents the economic equivalent of one share of Centuri Holdings' common stock.
• The RSUs can be settled by delivery of an equal number of shares of the Issuer's common stock or, in certain cases, in cash.
• The RSUs will vest on the first anniversary of the grant date.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating a stable and incentivized management structure. The sentiment is neutral to positive.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The RSUs will vest on the first anniversary of the grant date, potentially leading to the issuance of 6,904 shares of common stock or a cash settlement.

Industry Context

Grants of restricted stock units are a common form of executive compensation in publicly traded companies, aligning management's interests with those of shareholders and incentivizing long-term performance.

Comparison to Industry Standards

• Restricted stock units are a standard form of equity compensation, similar to grants made by companies like Quanta Services and MasTec to their executives.
• The vesting schedule of one year is relatively common, aligning with industry practices for incentivizing long-term performance.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term performance.
• Employees may see the RSU grant as a sign of the company's commitment to incentivizing its leadership.

Key Dates