Sterling Infrastructure (STRL) CEO granted 30,488 performance-based shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
STERLING INFRASTRUCTURE, INC. Chief Executive Officer Joseph A. Cutillo reported equity compensation activity involving company common stock. He acquired 30,488 shares through a grant classified as a “grant, award, or other acquisition,” with no cash price per share reported for this award.
On the same date, 11,668 shares were disposed of in a transaction coded as a tax-withholding disposition at a price of $455.25 per share, with shares retained by the company to satisfy tax obligations tied to the release of prior performance-based stock units. After these transactions, Cutillo directly owned 490,593 common shares, and 20,754 of these remained subject to sale or transfer restrictions and potential forfeiture under certain conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
CUTILLO JOSEPH A
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 30,488 | $0.00 | -- |
| Tax Withholding | Common Stock | 11,668 | $455.25 | $5.31M |
Holdings After Transaction:
Common Stock — 502,261 shares (Direct)
Footnotes (1)
- Represents shares earned in respect to PSU's granted in 2023 that have satisfied certain performance conditions. These shares were retained by the Company at the election of the Reporting Person pursuant to a procedure approved by the Compensation Committee of the Board of Directors to satisfy the Company's tax withholding requirements (based on the closing price of the Company's common stock on the release date) arising from the release of restrictions as permitted by the plan pursuant to which the restricted stock unit award was made. Of these shares, 20,754 shares are subject to restrictions on their sale or other transfer and to forfeiture under certain circumstances.
FAQ
What insider transactions did STRL CEO Joseph A. Cutillo report?
Joseph A. Cutillo reported an equity grant and a related tax-withholding share disposition. He received 30,488 common shares as an award, then 11,668 shares were withheld by the company to cover tax liabilities associated with performance-based stock unit vesting.
What type of equity award did STRL’s CEO earn in this Form 4 filing?
The filing shows shares earned from performance stock units granted in 2023. These PSUs vested after meeting specified performance conditions, resulting in 30,488 common shares being awarded to the CEO as part of his long-term incentive compensation.