Form 4: Tutor Perini Executive Ghassan Ariqat Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President Ghassan Ariqat reports the vesting and settlement of phantom stock units, along with associated stock transactions, in Tutor Perini Corporation.
Summary
- Ghassan Ariqat, an Executive Vice President at Tutor Perini Corporation, filed a Form 4 detailing changes in beneficial ownership.
- On April 1, 2024, Ariqat vested 30,000 phantom stock units, which were settled in cash based on the closing price of Tutor Perini's common stock.
- The same day, Ariqat disposed of 30,000 shares of common stock at a price of $14.8 per share.
- Following these transactions, Ariqat directly owns 11,855 shares of Tutor Perini common stock and 30,000 phantom stock units.
- The phantom stock units were granted on January 26, 2023, with 90,000 units vesting in three tranches of 30,000 on April 1, 2023, 2024, and 2025, contingent upon continued employment.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't inherently indicate positive or negative sentiment.
Future Outlook
The remaining 30,000 phantom stock units are scheduled to vest on April 1, 2025, contingent upon the reporting person's continued employment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| January 26, 2023 | Reporting person was granted 90,000 cash-settled phantom stock units |
| April 1, 2023 | First tranche of 30,000 phantom stock units vested |
| April 1, 2024 | Second tranche of 30,000 phantom stock units vested; 30,000 shares disposed of at $14.8 |
| April 1, 2025 | Final tranche of 30,000 phantom stock units scheduled to vest |
| April 03, 2024 | Date of signature for the Form 4 filing |
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