Centuri (CTRI) CFO granted 16,111 RSUs and 11,309 shares in awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Centuri Holdings, Inc. Chief Financial Officer Gregory A. Izenstark reported equity awards tied to performance and service-based compensation. On February 17, 2026, he earned 16,111 restricted stock units (RSUs) after performance goals for a prior performance award were certified at 105.1% of target, and he also received a separate grant of 11,309 shares of common stock, all at no cash cost to him.
The 16,111 RSUs relate to a 2025 performance stock unit award and are scheduled to vest only if he remains in service through the later of February 25, 2028 and the board’s certification of performance for a second performance period. A corresponding 16,111 shares of common stock were reported as acquired upon derivative conversion, reflecting how the performance award may ultimately be settled in stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
16,111 shares exercised/converted
Mixed
3 txns
Insider
Izenstark Gregory A.
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 16,111 | $0.00 | -- |
| Grant/Award | Common Stock | 11,309 | $0.00 | -- |
| Exercise | Common Stock | 16,111 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 16,111 shares (Direct);
Common Stock — 74,565 shares (Direct)
Footnotes (1)
- Represents the grant of restricted stock units ("RSUs") pursuant to the Omnibus Incentive Plan (the "Plan") of Centuri Holdings, Inc. (the "Issuer") on February 17, 2026 (the "2026 RSU Grant"). Each RSU subject to the 2026 RSU Grant is the economic equivalent of one share of the Issuer's common stock and may be settled by delivery of one share of the Issuer's common stock. The reporting person has reported prior grants of RSUs in Table II of Form 4. The total reported in Column 5 of Table I includes the 2026 RSU Grant, 30,673 RSUs granted pursuant to the Plan and previously reported in Table II (the "Previous RSU Grants"), and 32,583 shares of common stock. As of the date of this Form 4, the Previous RSU Grants may be settled only by delivery of an equal number of shares of the Issuer's common stock. On February 25, 2025, the reporting person was granted a total of 46,009 performance stock units pursuant to the Plan (the "2025 Performance Award"), assuming target level of achievement of the applicable performance goals. One-third of the units subject to the 2025 Performance Award were eligible to be earned based on achievement of performance goals for the fiscal year of the Issuer ended December 28, 2025 (the "First Performance Period"), and the remaining two-thirds of the units subject to the 2025 Performance Award are eligible to be earned based on achievement of performance goals for the two fiscal years of the Issuer ending January 2, 2028 (the "Second Performance Period"). On February 17, 2026, the Issuer's board of directors certified achievement of the performance goals for the First Performance Period at 105.1% of the target level, resulting in the reporting person earning 16,111 RSUs (the "2025 Earned RSUs"). The 2025 Earned RSUs are scheduled to vest based on the reporting person's continued service through the later of February 25, 2028 and the date that the Issuer's board of directors (or a committee thereof) certifies the level of achievement of the performance goals for the Second Performance Period. The reported transaction involved the reporting person's receipt of the 2025 Earned RSUs. The reporting person previously reported the 2025 Performance Award in Table II of Form 4. As of the date of this Form 4, the 2025 Performance Award may be settled only by delivery of a number of shares of the Issuer's common stock equal to the number of 2025 Earned RSUs plus any additional RSUs subject to the 2025 Performance Award that are earned based on the level of achievement of the performance goals for the Second Performance Period.
FAQ
What equity awards did Centuri (CTRI) CFO Gregory Izenstark report?
Centuri CFO Gregory Izenstark reported earning 16,111 restricted stock units and receiving a separate grant of 11,309 shares of common stock. Both awards are compensation-related and were recorded at a price of $0.0000 per share, meaning no cash outlay by the executive.
How were the 16,111 RSUs for Centuri (CTRI) CFO determined?
The 16,111 RSUs were earned from a 2025 performance stock unit award after the board certified performance at 105.1% of target. This certification related to the issuer’s fiscal year ended December 28, 2025, defined as the First Performance Period under the incentive plan.
When do the 16,111 earned RSUs for Centuri (CTRI) CFO vest?
The 16,111 earned RSUs are scheduled to vest only if Gregory Izenstark continues in service through the later of February 25, 2028 and the date the board certifies performance for a Second Performance Period, covering two fiscal years ending January 2, 2028.
Are Centuri (CTRI) CFO’s RSU and stock awards open-market purchases?
No, the reported 16,111 RSUs and 11,309 shares of common stock reflect equity compensation awards, not open-market purchases. They were granted or earned under Centuri’s Omnibus Incentive Plan at a transaction price of $0.0000 per share to the reporting person.
What is the 2025 Performance Award mentioned for Centuri (CTRI) CFO?
The 2025 Performance Award granted 46,009 performance stock units at target on February 25, 2025. One-third could be earned based on 2025 performance, producing 16,111 earned RSUs, while the remaining two-thirds depend on performance over two fiscal years ending January 2, 2028.
How may Centuri (CTRI) CFO’s performance units ultimately be settled?
As of this filing, the 2025 performance units may be settled only by shares of common stock equal to the 16,111 earned RSUs plus any additional RSUs earned for the Second Performance Period, making the award economically equivalent to Centuri common stock upon settlement.