Form 4: Tutor Perini Executive Chairman Sells $12.9M in Stock

Ronald N. Tutor, Executive Chairman of Tutor Perini Corp, sold approximately $12.9 million worth of common stock and gifted additional shares in mid-September 2025.

Summary

• Ronald N. Tutor, Executive Chairman, Director, and 10% Owner of Tutor Perini Corp (TPC), reported multiple transactions involving the company's common stock.
• On September 17, 2025, 77,819 shares were sold at a weighted average price of $64.03, with prices ranging from $63.50 to $64.48.
• Also on September 17, 2025, an additional 39,037 shares were sold at a weighted average price of $64.56, with prices ranging from $64.49 to $64.87.
• On September 17, 2025, 8,000 shares were gifted to a charitable organization for no consideration.
• On September 18, 2025, 83,144 shares were sold at a weighted average price of $64.94, with prices ranging from $64.49 to $65.35.
• The total number of shares disposed of through sales and gifts was 208,000.
• The total value of shares sold was approximately $12.9 million.
• All reported transactions were indirect, held by the Tutor Marital Property Trust.
• Following these transactions, Mr. Tutor's indirect beneficial ownership includes 4,062,985 shares via Tutor Marital Property Trust, 771,477 shares via Ronald N. Tutor Separate Property Trust, and 1,533,255 shares via Ronald N. Tutor 2018 Dynasty Trust.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 3

Explanation: The sentiment is negative due to significant insider selling by the Executive Chairman, even though it was conducted under a 10b5-1 plan. Such large-scale disposals by a key insider can be interpreted as a lack of confidence in the company's near-term growth or valuation.

Negatives

• Executive Chairman Ronald N. Tutor disposed of a significant number of shares (200,000 shares sold, 8,000 gifted) totaling approximately $12.9 million in sales value.
• Significant insider selling, even if pre-planned, can be interpreted by the market as a lack of confidence or a signal that the stock price may be near a peak.

Industry Context

Insider selling by a high-ranking executive and significant shareholder, even under a pre-arranged 10b5-1 plan, is often scrutinized by investors as it can signal management's perspective on the company's valuation or future prospects. In the construction and engineering industry, executive confidence is often tied to project pipelines and profitability, making such sales noteworthy.

Stakeholder Impact

• Shareholders: May interpret the significant insider selling as a negative signal regarding the company's future performance or valuation, potentially leading to downward pressure on the stock price.
• Employees: No direct impact mentioned, but a decline in stock price could affect morale or equity-based compensation.

Key Dates

Recommendation

While the significant insider selling by the Executive Chairman, Ronald N. Tutor, is a negative signal, the transactions were executed under a pre-arranged 10b5-1 plan, which suggests a planned liquidity event rather than an immediate reaction to new negative information. Given the substantial amount, it warrants caution, but without additional context on the company's fundamentals or other market factors, a 'hold' recommendation is prudent. Investors should monitor future company performance and other insider activity closely.

Keywords

Tutor Perini, TPC, Insider Trading, Form 4, Stock Sale, Executive Chairman, Ronald N. Tutor, Share Disposal, 10b5-1 Plan