Form 4: Tutor Perini Executive Vice President Smithson Exercises Stock Options, Sells Shares
SEC Form 4 Filing
Executive Vice President Michael Francis Smithson of Tutor Perini Corp. exercised stock options and sold shares on May 28, 2024.
Summary
- Michael Francis Smithson, an Executive Vice President at Tutor Perini Corp., executed transactions involving the company's stock on May 28, 2024.
- Smithson converted 50,000 restricted stock units (RSUs) into common stock.
- Simultaneously, Smithson sold 26,975 shares of common stock at a price of $21.50 per share.
- Following these transactions, Smithson directly owns 45,850 shares of Tutor Perini Corp.
- The initial grant of 100,000 RSUs was made on May 28, 2021, with 50,000 vesting on May 28, 2023, and the remaining 50,000 vesting on May 28, 2024.
- Smithson has a power of attorney agreement authorizing certain individuals to act on his behalf for Section 16(a) filings.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects standard executive compensation activity.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the change in ownership, but it's unlikely to be significant.
Key Dates
| Date | Description |
|---|---|
| 05/28/2021 | Reporting person was granted 100,000 RSUs |
| 05/28/2023 | 50,000 RSUs vested |
| 05/28/2024 | 50,000 RSUs vested; 50,000 shares acquired; 26,975 shares disposed of |
| 05/30/2024 | Date of signature for the filing |
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