Tutor Perini (TPC) CFO nets shares from 10,000 vested RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Tutor Perini Corporation’s Executive VP & CFO, Ryan Joseph Soroka, reported compensation-related equity activity. On March 8, he exercised 10,000 restricted stock units, which converted into 10,000 shares of common stock on a 1-for-1 basis. To cover tax obligations, 5,419 common shares were withheld at a price of 72.82 per share, resulting in a net increase of 4,581 shares. After these transactions, he directly owned 42,883 shares of common stock. The RSUs were part of a 30,000-unit grant made on March 8, 2023, vesting in three equal annual installments of 10,000 units in 2024, 2025, and 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
10,000 shares exercised/converted
Mixed
3 txns
Insider
SOROKA RYAN JOSEPH
Role
Executive VP & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 10,000 | $0.00 | -- |
| Exercise | Common Stock | 10,000 | $0.00 | -- |
| Tax Withholding | Common Stock | 5,419 | $72.82 | $395K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 48,302 shares (Direct)
Footnotes (1)
- The restricted stock units (RSUs) convert into common stock of Tutor Perini Corporation on a 1-for-1 basis. On March 8, 2023, the reporting person was granted 30,000 RSUs, of which 10,000 vested on each of March 8, 2024, 2025 and 2026.
FAQ
What insider transaction did Tutor Perini (TPC) report for its CFO?
Tutor Perini’s CFO, Ryan Joseph Soroka, exercised 10,000 restricted stock units into common shares. A portion of these shares was then withheld to satisfy tax obligations, reflecting routine compensation-related equity activity rather than an open-market stock purchase or sale.
What was the size and pricing of the tax withholding in the Tutor Perini (TPC) filing?
To satisfy tax obligations on the vested RSUs, 5,419 Tutor Perini common shares were withheld at a price of 72.82 per share. This disposition is coded as a tax-withholding transaction, not an open-market sale, and is standard for equity compensation.
What RSU grant is referenced in the Tutor Perini (TPC) CFO’s Form 4?
The Form 4 references a 30,000-unit RSU grant awarded on March 8, 2023. These restricted stock units vest in three equal tranches of 10,000 units each on March 8, 2024, 2025, and 2026, converting into common shares on a 1-for-1 basis.
Did the Tutor Perini (TPC) CFO make any open-market stock purchases or sales?
The reported transactions involve RSU conversion and tax withholding, not open-market trading. The CFO acquired shares through the vesting of 10,000 RSUs and had 5,419 shares withheld to cover taxes, a routine non-market mechanism tied to equity compensation.