Primoris (NASDAQ: PRIM) CAO granted 5,000 restricted stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Stricker Travis reported acquisition or exercise transactions in this Form 4 filing.
Primoris Services Corp chief accounting officer Travis Stricker reported an equity compensation award of 5,000 restricted stock units. Each unit represents a contingent right to receive one share of PRIM common stock or its cash value on settlement, at the company’s discretion.
The restricted stock units vest in stages: 25% on January 30, 2024, 25% on January 30, 2025, and 50% on January 30, 2026. The filing notes it was submitted late due to an administrative error, and states this was not an error of the reporting person.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Stricker Travis
Role
CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 5,000 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 7,025 shares (Direct)
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. This transaction is being filed late due to an administrative error and not any error of the reporting person. The restricted stock units vest 25% on January 30, 2024, 25% on January 30, 2025, and 50% on January 30, 2026.
FAQ
What insider transaction did Primoris (PRIM) report for Travis Stricker?
Primoris reported that chief accounting officer Travis Stricker acquired 5,000 restricted stock units as an equity award. These units are a form of compensation tied to company stock and settle in shares or cash at the company’s discretion on future vesting dates.
How do the 5,000 restricted stock units for PRIM’s CAO vest?
The 5,000 restricted stock units vest over three dates. 25% vest on January 30, 2024, another 25% vest on January 30, 2025, and the remaining 50% vest on January 30, 2026, creating a gradual, time-based vesting schedule.
What does each restricted stock unit represent for Primoris (PRIM)?
Each restricted stock unit represents a contingent right to receive one share of Primoris common stock or the cash value of that share. Settlement form is at the company’s discretion on the applicable vesting and settlement dates specified for the award.
Why was Travis Stricker’s Form 4 for Primoris (PRIM) filed late?
The Form 4 was filed late because of an administrative error, according to the disclosure. The footnote explicitly states the delay was due to this administrative mistake and not the result of any error by the reporting person, Travis Stricker.