Form 4: Tutor Perini EVP Granted 17,495 Phantom Stock Units

Kristiyan D. Assouri, EVP and Chief Legal Officer of Tutor Perini Corp, was granted 17,495 cash-settled phantom stock units on March 12, 2025, according to a Form 4 filing.

Summary

• Kristiyan D. Assouri, the EVP and Chief Legal Officer of Tutor Perini Corporation, was granted 17,495 cash-settled phantom stock units on March 12, 2025.
• These phantom stock units vest in three tranches: 5,831 on March 12, 2026, 5,832 on March 12, 2027, and 5,832 on March 12, 2028.
• Vesting is contingent upon Assouri's continued employment with Tutor Perini through each applicable vesting date.
• The phantom stock units will be settled in cash based on the closing price per share of Tutor Perini Corporation's common stock on the vesting date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, aligning management with shareholder interests. The vesting schedule promotes long-term commitment.

Positives

• The grant of phantom stock units aligns the executive's interests with the company's performance.
• The vesting schedule encourages continued employment and commitment to the company.

Risks

• The value of the phantom stock units is tied to the performance of Tutor Perini's common stock, which can be volatile.
• If the executive leaves the company before the vesting dates, the unvested units will be forfeited.

Future Outlook

The phantom stock units will vest over the next three years, contingent on continued employment.

Industry Context

Granting phantom stock units is a common practice in executive compensation to align management's interests with shareholder value and encourage long-term commitment.

Comparison to Industry Standards

• Many construction and engineering companies use equity-based compensation, including phantom stock, to incentivize executives.
• Comparing the size of this grant to similar companies and executive roles would provide a better understanding of its relative value.
• Companies like Fluor Corporation, Jacobs Engineering Group, and AECOM also utilize similar compensation strategies.

Stakeholder Impact

• Shareholders may view this as a positive incentive for the executive to drive company performance.
• Employees may see this as a sign of the company's commitment to its leadership team.

Key Dates