Form 4: Primoris Services Corp Executive Exercises and Sells Restricted Stock Units to Cover Tax Obligations
SEC Form 4 Filing
John M. Perisich, Chief Legal and Administrative Officer of Primoris Services Corp, exercised restricted stock units and sold shares to cover tax obligations on June 29, 2024.
Summary
- On June 29, 2024, John M. Perisich, Chief Legal and Administrative Officer of Primoris Services Corp, exercised 8,904 restricted stock units, each representing a contingent right to receive one share of PRIM common stock.
- The restricted stock units vested and were settled for an equal number of shares of PRIM common stock on the same date.
- Perisich also disposed of 4,513 shares of common stock at a price of $49.89 to satisfy tax obligations related to the settlement of the vested restricted stock units.
- Following these transactions, Perisich directly owns 4,391 shares of common stock and indirectly owns 145,214 shares through a family trust.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices and tax obligation fulfillment.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| July 11, 2007 | Date of the Perisich Family Trust |
| June 29, 2024 | Date of transaction: exercise of restricted stock units and sale of shares |
| July 02, 2024 | Date of signature on the Form 4 filing |
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