Form 4: Sterling Infrastructure CEO Joseph Cutillo Reports Stock Transactions

CEO Joseph Cutillo reports stock transactions including shares withheld for tax obligations and the grant of restricted stock units.

Summary

• On December 31, 2024, Sterling Infrastructure retained 13,571 shares of common stock from CEO Joseph Cutillo to satisfy tax withholding requirements at a price of $168.45 per share.
• On January 1, 2025, Joseph Cutillo was granted 11,101 time-vested restricted stock units.
• These restricted stock units will vest in one-third increments on each of December 31, 2025, and the next two anniversaries, provided service conditions are met.
• Following these transactions, Cutillo beneficially owns 426,167 shares of Sterling Infrastructure, Inc., including 36,960 shares subject to restrictions on sale or transfer.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are standard executive compensation practices and demonstrate continued investment in the company by the CEO.

Positives

• The grant of restricted stock units aligns the CEO's interests with the long-term performance of the company.
• Cutillo's continued significant shareholding demonstrates a strong commitment to Sterling Infrastructure, Inc.

Future Outlook

The restricted stock units will vest in one-third increments on each of December 31, 2025, and the next two anniversaries thereof, provided the service conditions are satisfied.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units to incentivize long-term performance, a common practice among publicly traded companies such as Fluor Corporation and AECOM.
• The vesting schedule of the restricted stock units is typical, with annual vesting over a three-year period, similar to practices observed at Jacobs Engineering Group and KBR.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.
• The vesting of restricted stock units incentivizes the CEO to drive long-term value for shareholders.

Next Steps

• The restricted stock units will vest annually, contingent on continued service.

Key Dates