Form 4: Tutor Perini EVP Settles Vested Phantom Stock Units

Tutor Perini Corporation's EVP and Chief Legal Officer, Kristiyan D. Assouri, settled 5,831 vested cash-settled phantom stock units on March 12, 2026.

Summary

• Kristiyan D. Assouri, EVP and Chief Legal Officer of Tutor Perini Corporation, settled 5,831 cash-settled phantom stock units on March 12, 2026.
• These units were part of an initial grant of 17,495 phantom stock units made on March 12, 2025.
• The settlement was in cash, valued at the closing price of Tutor Perini common stock on the vesting date, which was $69.2 per share for the disposition.
• No actual common stock shares were purchased or sold by the reporting person in this transaction; it is reported as an acquisition and disposition back to the Issuer under SEC principles.
• An additional 11,664 phantom stock units remain unvested, with 5,832 scheduled to vest on March 12, 2027, and 5,832 on March 12, 2028, contingent on continued employment.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine disclosure of executive compensation realization rather than a significant operational or strategic development for the company.

Positives

• The vesting and settlement of phantom stock units indicate a component of executive compensation being realized, aligning executive interests with company performance.
• The continued vesting schedule for future years (11,664 units) suggests ongoing incentive for the executive, contingent on continued employment.

Future Outlook

The filing indicates future vesting dates for phantom stock units on March 12, 2027, and March 12, 2028, contingent upon the reporting person's continued employment.

Industry Context

StockSavvy.ai notes that executive compensation, particularly through equity-linked instruments like phantom stock units, is a standard practice across the construction and engineering industry, aligning executive incentives with long-term company performance. This specific transaction is a routine disclosure of such compensation realization.

Comparison to Industry Standards

• This type of executive compensation structure, involving phantom stock units with multi-year vesting schedules, is common among publicly traded companies in the construction and infrastructure sector, such as Fluor Corporation or Jacobs Engineering Group.
• The cash settlement of vested units at market price is a standard method for such awards, ensuring executives realize value tied to the company's stock performance without direct share ownership.

Related Party Transactions

• The transaction involves an executive and the company, which is a related party transaction in the context of compensation, but it is a standard, disclosed compensation event.

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine compensation event. It reflects the cost of executive compensation, which is already factored into financial models.
• Management: The reporting person realized value from vested compensation, and future vesting provides ongoing incentive.

Next Steps

• 5,832 phantom stock units are scheduled to vest on March 12, 2027, contingent on continued employment.
• 5,832 phantom stock units are scheduled to vest on March 12, 2028, contingent on continued employment.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event (vesting and cash settlement of phantom stock units) and does not provide new information regarding the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. It is a standard disclosure of an insider transaction, not indicative of a fundamental shift in the company's value proposition.

Keywords

Tutor Perini Corporation, TPC, Kristiyan D. Assouri, Form 4, SEC filing, insider transaction, phantom stock units, executive compensation, vesting, cash settlement