Form 4: Sterling Infrastructure CEO Acquires Shares and Disposes of Shares for Tax Obligations

CEO Joseph A. Cutillo acquired shares related to performance stock units and disposed of shares to cover tax withholding obligations.

Summary

• On February 27, 2024, Joseph A. Cutillo, CEO of Sterling Infrastructure, Inc., acquired 100,250 shares of common stock related to performance stock units (PSUs) granted in 2021, 2022, and 2023.
• These PSUs satisfied certain performance conditions.
• On the same day, Cutillo disposed of 36,499 shares to satisfy the company's tax withholding requirements.
• The shares were retained by the company at a price of $106.22 per share.
• Following these transactions, Cutillo beneficially owns 728,459 shares of Sterling Infrastructure, Inc.
• Of these shares, 62,190 are subject to restrictions on their sale or other transfer and to forfeiture under certain circumstances.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. The acquisition of shares due to PSU vesting is mildly positive, suggesting the company met certain performance targets.

Positives

• The acquisition of shares indicates confidence in the company's performance, as the PSUs vested due to the satisfaction of performance conditions.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's alignment with shareholder interests.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.

Key Dates