Form 4: Tutor Perini Executive Granted Phantom Stock Units

Executive Vice President William E. Jensen receives 33,013 cash-settled phantom stock units from Tutor Perini Corporation.

Summary

• William E. Jensen, an Executive Vice President at Tutor Perini Corporation, was granted 33,013 cash-settled phantom stock units on May 15, 2025.
• 16,506 of these units will vest on May 15, 2026, and 16,507 will vest on May 15, 2027, contingent upon Jensen's continued employment.
• These phantom stock units are derivative securities that will be settled in cash based on the closing price of Tutor Perini Corporation's common stock on the vesting dates.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management interests with shareholder value. The sentiment is neutral to slightly positive.

Positives

• The granting of phantom stock units aligns the executive's interests with the company's performance.
• The vesting schedule incentivizes continued employment and contribution to the company's success.

Risks

• The value of the phantom stock units is tied to the performance of Tutor Perini Corporation's common stock, which can fluctuate.
• The executive must remain employed with the company through the vesting dates to receive the full value of the units.

Future Outlook

The executive's compensation is tied to the future performance of the company's stock, incentivizing efforts to increase shareholder value.

Industry Context

Granting phantom stock units is a common practice in corporate governance to align executive compensation with company performance and shareholder value. This is especially common in the construction and engineering industry to retain key talent.

Comparison to Industry Standards

• Many companies in the construction and engineering sector, such as Fluor Corporation, Jacobs Engineering Group, and AECOM, utilize similar equity-based compensation plans for their executives.
• These plans often include stock options, restricted stock units, and performance-based bonuses tied to specific financial or operational targets.
• The vesting schedules and settlement terms of these plans can vary depending on the company's specific goals and compensation philosophy.

Stakeholder Impact

• Shareholders may view this as a positive step towards aligning executive interests with company performance.
• Employees may see this as a sign of the company's commitment to rewarding key personnel.

Key Dates

Keywords

phantom stock units, Tutor Perini Corporation, executive compensation, Form 4, derivative securities, vesting, cash-settled, William E. Jensen