Primoris (PRIM) COO shifts 147 new shares into family trust after RSU vest
Rhea-AI Filing Summary
Primoris Services Corp chief operating officer Jeremy Kinch reported routine equity compensation activity and a related ownership reclassification. On April 1, 2026, 244 restricted stock units vested and were settled into an equal number of Primoris common shares. The company withheld 97 of those shares, valued at $143.04 per share, to satisfy his tax obligation tied to the vesting.
The remaining 147 shares from this settlement were transferred as a bona fide gift to the Kinch Family Trust, where Kinch serves as trustee. Following this transfer, he no longer holds common stock directly, and 25,681 shares are shown as owned indirectly by the Kinch Family Trust, including 25,534 shares previously transferred to the trust that had been misclassified as directly owned in earlier reports.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 244 | $0.00 | -- |
| Exercise | Common Stock | 244 | $0.00 | -- |
| Tax Withholding | Common Stock | 97 | $143.04 | $14K |
| Gift | Common Stock | 147 | $0.00 | -- |
| Gift | Common Stock | 147 | $0.00 | -- |
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of PRIM common stock or the cash value thereof on the date of settlement, in the Company's discretion. On April 1, 2026, the restricted stock units vested and were settled for an equal number of shares of PRIM common stock. Withholding of common stock to satisfy reporting person's tax obligation upon the settlement of vested restricted stock units. These shares are owned directly by the Kinch Family Trust and indirectly by Jeremy Kinch, as trustee of the trust. Amount of securities beneficially owned includes 25,534 shares previously transferred to the Kinch Family Trust which were inadvertently reported in prior periods as directly owned.