SCHEDULE: Tutor Perini Insider Sells 700K Shares, Ownership Shifts

Ronald N. Tutor and affiliated trusts reported a net disposition of 700,345 shares of Tutor Perini Corporation common stock since November 2024.

Summary

• Ronald N. Tutor and affiliated trusts (The Ronald N. Tutor Separate Property Trust and Tutor Marital Property Trust) reported a net disposition of 700,345 shares of Tutor Perini Corporation common stock since November 13, 2024.
• As of August 26, 2025, Ronald N. Tutor beneficially owns 6,975,121 shares, representing 13.2% of the common stock.
• The total shares outstanding used for calculation were 52,743,248, plus 274,432 shares from exercisable stock options for TMPT.
• The Ronald N. Tutor Separate Property Trust (SPT) beneficially owns 771,477 shares (1.5%).
• The Ronald N. Tutor 2018 Dynasty Trust (DT) beneficially owns 1,533,255 shares (2.9%).
• The Tutor Marital Property Trust (TMPT) beneficially owns 4,670,389 shares (8.8%), which includes 274,432 stock options.
• Transactions in the 60 days prior to the amendment included open market sales by SPT and TMPT totaling 275,028 shares at weighted average prices ranging from $58.65 to $59.19 per share.

Sentiment

Score: 3

Explanation: The sentiment is negative due to significant insider selling by Ronald N. Tutor and his affiliated trusts. While not a direct reflection of company performance, a reduction in ownership by a key figure can signal diminished confidence or a belief that the stock is fully valued.

Negatives

• A significant insider, Ronald N. Tutor, through his affiliated trusts, has reduced his beneficial ownership by a net of 700,345 shares since the last amendment in November 2024.
• Open market sales by the Separate Property Trust and Marital Property Trust occurred at prices between $58.33 and $59.53 per share in the 60 days prior to the filing.

Future Outlook

The Reporting Persons currently have no plans or proposals that would result in significant corporate actions such as mergers, liquidations, sales of assets, changes in management, or other material changes to the issuer's business or corporate structure, beyond what is described in this filing.

Management Comments

• Ronald N. Tutor is the beneficiary and trustee of The Ronald N. Tutor Separate Property Trust and Tutor Marital Property Trust.
• Ronald N. Tutor serves as the trust advisor to the Ronald N. Tutor 2018 Dynasty Trust, holding sole discretion to remove and replace the trustee, and the sole authority to reacquire or exchange the trust's property, including common stock, by substituting property of equal value.

Industry Context

This filing primarily concerns changes in beneficial ownership by a key insider and does not provide specific details on broader industry trends or competitive landscape.

Related Party Transactions

• Ronald N. Tutor, through his role as beneficiary and trustee of The Ronald N. Tutor Separate Property Trust and Tutor Marital Property Trust, and as trust advisor to the Ronald N. Tutor 2018 Dynasty Trust, controls or influences the beneficial ownership of shares held by these trusts.

Stakeholder Impact

• Shareholders may perceive the insider selling by Ronald N. Tutor and his affiliated trusts as a negative indicator, potentially leading to a decrease in investor confidence and share price pressure.
• The reduction in ownership by a significant insider could raise questions among investors about the company's future outlook.

Key Dates

Recommendation

The significant insider selling by Ronald N. Tutor and his affiliated trusts is a notable negative signal, suggesting a potential lack of confidence or a view that the stock is fully valued. However, without additional financial performance data or strategic updates from the company, a 'sell' recommendation might be premature. Investors should 'hold' and monitor future company performance and insider activity closely, exercising caution given this ownership reduction.

Keywords

Tutor Perini, Ronald N. Tutor, Schedule 13D, beneficial ownership, insider selling, common stock, construction, engineering