Form 4: Tutor Perini Executive Chairman Ronald N. Tutor Reports Changes in Beneficial Ownership

Ronald N. Tutor, Executive Chairman of Tutor Perini Corporation, reports the acquisition and disposition of phantom stock units related to his compensation.

Summary

• Ronald N. Tutor, the Executive Chairman of Tutor Perini Corporation, filed a Form 4 detailing changes in his beneficial ownership.
• On March 13, 2025, Mr. Tutor vested in 152,932 cash-settled phantom stock units from a grant made on March 13, 2024.
• These units are settled in cash based on Tutor Perini Corporation's stock price on the vesting date.
• The filing also reports the grant of 155,509 new cash-settled phantom stock units on March 12, 2025, which will vest on March 12, 2026, contingent upon continued employment.
• Mr. Tutor also has indirect ownership of Tutor Perini Corporation common stock through several trusts.

Sentiment

Score: 6

Explanation: The document is a neutral disclosure of executive compensation. It doesn't contain any information that would be considered significantly positive or negative for the company's stock price.

Positives

• The grant of phantom stock units aligns Mr. Tutor's compensation with the company's stock performance.
• Continued employment is required for the vesting of the phantom stock units, incentivizing Mr. Tutor to remain with the company.

Future Outlook

The remaining phantom stock units from the March 13, 2024 grant will vest on March 13, 2026 and December 31, 2026, contingent upon continued employment. The 155,509 phantom stock units granted on March 12, 2025 will vest on March 12, 2026, contingent upon continued employment.

Industry Context

Executive compensation packages often include stock-based awards to align management's interests with those of shareholders. Phantom stock units are a common form of equity compensation that provides executives with the benefits of stock ownership without actually granting them shares.

Comparison to Industry Standards

• Many companies in the construction and engineering industry, such as Fluor Corporation, Jacobs Engineering Group, and AECOM, utilize stock-based compensation, including restricted stock units and performance-based equity awards, to incentivize their executives.
• The specific terms and conditions of these awards, such as vesting schedules and performance metrics, vary depending on the company and the executive's role.

Stakeholder Impact

• Shareholders may view the equity-based compensation as a positive sign that management's interests are aligned with their own.
• Employees may be motivated by the fact that executives are incentivized to improve the company's performance.

Key Dates