Form 4: Primoris Services Corp Director Patricia K. Wagner Acquires 800 Shares of Common Stock

Director Patricia K. Wagner acquired 800 shares of Primoris Services Corp common stock on May 1, 2024, as part of a non-employee director compensation program.

Summary

• On May 1, 2024, Patricia K. Wagner, a director of Primoris Services Corp, acquired 800 shares of common stock.
• The acquisition was part of the non-employee director compensation program.
• The program, adopted in May 2011 and updated in August 2022, provides for the issuance of restricted stock with a value of $32,500.
• The price per share was based on the average closing price during March 2024.
• Wagner now beneficially owns 17,371 shares of Primoris Services Corp common stock.
• The shares cannot be sold for twelve months from the date of grant.

Sentiment

Score: 7

Explanation: The document reflects a routine director stock acquisition, indicating standard compensation practices and alignment of interests. It is neither overwhelmingly positive nor negative.

Positives

• The acquisition reflects ongoing director compensation, aligning director interests with shareholder value.

Industry Context

Director stock ownership is common in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Director compensation packages often include stock grants, aligning director interests with shareholder value, similar to practices at Fluor Corporation and KBR, Inc.
• Restricted stock grants with vesting periods are a standard component of director compensation, comparable to those offered by Jacobs Engineering Group and AECOM.

Stakeholder Impact

• The stock acquisition aligns director interests with shareholders, potentially fostering better corporate governance.

Key Dates