Form 4: Tutor Perini EVP Jensen's Phantom Stock Vesting

Tutor Perini Executive Vice President William E. Jensen reported the vesting and cash settlement of 6,479 phantom stock units on March 14, 2026.

Summary

• Executive Vice President William E. Jensen reported a change in beneficial ownership of Tutor Perini Corporation (TPC) securities.
• On March 14, 2026, 6,479 cash-settled phantom stock units, granted on March 14, 2025, vested.
• These vested units were settled in cash, with the value determined by the closing price per share of Tutor Perini common stock on the vesting date.
• The settlement price for the disposition was $67.76 per share.
• Jensen did not purchase or sell any actual common stock shares in the settlement of this award; however, the transaction is reported as an acquisition and disposition of shares back to the Issuer for SEC reporting purposes.
• Following this transaction, Jensen beneficially owns 37,223 shares of common stock.
• Jensen also beneficially owns 12,960 derivative phantom stock units, with 6,480 units scheduled to vest on March 14, 2027, and another 6,480 units on March 14, 2028, contingent on continued employment.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a standard executive compensation payout without direct market impact from share purchases or sales by the insider.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

StockSavvy.ai notes that routine insider compensation events like phantom stock unit vesting and cash settlement are common across industries, particularly for senior executives in publicly traded companies. These transactions are typically part of long-term incentive plans designed to align executive interests with shareholder value over time, without directly impacting the company's outstanding share count through open market purchases or sales by the executive.

Stakeholder Impact

• Shareholders: Minimal direct impact as the executive did not engage in open market purchases or sales of common stock. The cash settlement is a company expense related to executive compensation.

Next Steps

• 6,480 phantom stock units are scheduled to vest on March 14, 2027, contingent upon William E. Jensen's continued employment.
• An additional 6,480 phantom stock units are scheduled to vest on March 14, 2028, contingent upon William E. Jensen's continued employment.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event involving the vesting and cash settlement of phantom stock units. It does not indicate any fundamental change in the company's operations, financial health, or strategic direction that would warrant a change in investment recommendation. The transaction is expected and part of standard executive incentive plans, thus a 'hold' recommendation is appropriate as it provides no new information to alter an existing investment thesis.

Keywords

Tutor Perini, TPC, William E. Jensen, SEC Form 4, Insider Transaction, Phantom Stock Units, Executive Compensation, Stock Vesting, Cash Settlement