John M. Perisich - 28 Feb 2022 Form 4 Insider Report for Primoris Services Corp (PRIM)

Role: Chief Legal Officer
Signature: /s/ Kenneth M. Dodgen, by power of attorney
Issuer symbol: PRIM
Transactions as of: 28 Feb 2022
Net transactions value: -$51,849
Form type: 4
Filing time: 02 Mar 2022, 15:04:06 UTC
Previous filing: 17 Aug 2021
Next filing: 02 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRIM	Common Stock	Options Exercise		+2,497	+1.6%		154,751	28 Feb 2022	Family Trust	F1, F6
transaction	PRIM	Common Stock	Tax liability	$22,625	-858	-0.55%	$26.37	153,893	28 Feb 2022	Family Trust	F2, F6
transaction	PRIM	Common Stock	Options Exercise		+3,681	+2.4%		157,574	01 Mar 2022	Family Trust	F3, F6
transaction	PRIM	Common Stock	Tax liability	$29,224	-1,264	-0.8%	$23.12	156,310	01 Mar 2022	Family Trust	F2, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PRIM	Restricted Stock Units	Options Exercise	$0	-2,497	-8.9%	$0.000000	25,411	28 Feb 2022	Common Stock	2,497		Direct	F1
transaction	PRIM	Restricted Stock Units	Options Exercise	$0	-3,681	-14%	$0.000000	21,730	01 Mar 2022	Common Stock	3,681		Direct	F3
transaction	PRIM	Restricted Stock Units	Award	$0	+9,759	+45%	$0.000000	31,489	01 Mar 2022	Common Stock	9,759		Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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 Feb. 28, 2022, the restricted stock units vested and were settled for an equal number of shares of PRIM common stock.
F2	Withholding of common stock to satisfy reporting person's tax obligation upon the settlement of vested restricted stock units.
F3	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 Mar. 1, 2022, the restricted stock units vested and were settled for an equal number of shares of PRIM common stock.
F4	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.
F5	The restricted stock units vest ratable over three years from the date of grant.
F6	These shares are owned directly by the Perisich Family Trust dated July 11, 2007 and indirectly by John M. Perisich, as trustee of the trust. Mr. Perisich is Chief Legal Officer of Primoris.