SCHEDULE: Tutor Perini Chairman Plans Major Share Sale

Tutor Perini's Executive Chairman, Ronald N. Tutor, announced plans to sell a significant portion of his shares over the next 18 months for estate and tax planning.

Summary

• Ronald N. Tutor, Executive Chairman of Tutor Perini Corporation, intends to sell some or all of his shares over the next 18 months.
• The planned sales are for personal estate and tax planning as he approaches retirement.
• Since the last amendment filed on August 27, 2025, the Ronald N. Tutor Separate Property Trust (SPT) and Tutor Marital Property Trust (TMPT) disposed of a net 392,972 shares of Common Stock.
• As of March 2, 2026, Ronald N. Tutor beneficially owns 6,582,149 shares, representing 12.4% of the company's Common Stock.
• This beneficial ownership includes 274,432 stock options held by TMPT that are currently exercisable or will become exercisable within 60 days.
• The total outstanding shares of Common Stock as of March 2, 2026, are 52,791,451.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-slightly-positive development. While insider selling can be a concern, the explicit statement of confidence and the personal nature of the sales for estate planning mitigate negative sentiment. The company's stated strong fundamentals also support a stable outlook.

Positives

• Mr. Tutor expressed high confidence in the company's business and future, citing strong leadership, backlog, bidding opportunities, cash position, and outlook for revenue and earnings growth in 2026 and beyond.
• Expectations for future operating cash generation are positive.

Negatives

• A significant insider selling shares, even for personal reasons, can sometimes be perceived negatively by the market, potentially creating downward pressure on the stock.

Risks

• The timing, manner, and amount of future share sales by Mr. Tutor have not been determined, which could introduce uncertainty regarding potential market impact and share price volatility.

Future Outlook

Ronald N. Tutor expressed confidence in the company's outlook for revenue and earnings growth in 2026 and beyond, along with expected future operating cash generation.

Management Comments

• "Sales are solely for personal reasons and he has a high degree of confidence in the business and future of the Company based on its leadership, backlog, bidding opportunities, cash position, as well as its outlook for revenue and earnings growth in 2026 and beyond, and expected future operating cash generation."

Industry Context

StockSavvy.ai notes that insider selling, even for personal reasons like estate planning, can sometimes be viewed with caution by the market, especially from a key executive like the Executive Chairman. However, the explicit statement of confidence in the company's future, citing strong fundamentals like backlog and cash position, aims to mitigate potential negative interpretations. This type of disclosure is common for long-serving executives nearing retirement.

Comparison to Industry Standards

• This filing primarily concerns insider ownership changes and personal financial planning, rather than operational or financial performance. Therefore, direct comparisons to industry-specific operational benchmarks or competitor project results are not applicable.
• The percentage of ownership (12.4%) by a single executive remains substantial, indicating continued alignment with shareholder interests despite planned dispositions.

Management Changes

Related Party Transactions

• Ronald N. Tutor is the beneficiary and trustee of The Ronald N. Tutor Separate Property Trust (SPT) and Tutor Marital Property Trust (TMPT).
• Ronald N. Tutor is the trust advisor to the Ronald N. Tutor 2018 Dynasty Trust (DT), with sole discretion to remove and replace the trustee, as well as the sole authority to reacquire or exchange the property of the DT.

Stakeholder Impact

• Shareholders: Potential for increased share supply in the market due to planned sales, but also reassurance from the Chairman's stated confidence in the company's future.
• Employees: No direct impact mentioned, but a stable leadership outlook can be positive.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Next Steps

• Ronald N. Tutor intends to make sales of some or all of his shares over the next 18 months.

Key Dates

Recommendation

While the Executive Chairman is planning significant share sales, he explicitly states high confidence in the company's future performance, including revenue and earnings growth, and strong operating cash generation. This suggests that the sales are for personal financial planning rather than a lack of belief in the company's prospects. Given the mixed signals of insider selling alongside strong management confidence, a "hold" recommendation is appropriate for investors to monitor the execution of these sales and the company's performance against the stated positive outlook.

Keywords

Tutor Perini, Ronald N. Tutor, Insider Selling, Schedule 13D, Share Disposition, Estate Planning, Retirement, Common Stock, Beneficial Ownership, Construction Industry