John F. Moreno JR - Feb 28, 2023 Form 4 Insider Report for Primoris Services Corp (PRIM)

Role
CHIEF OPERATING OFFICER
Signature
/s/ Kenneth M. Dodgen
Stock symbol
PRIM
Transactions as of
Feb 28, 2023
Transactions value $
-$61,909
Form type
4
Date filed
3/2/2023, 04:42 PM
Previous filing
Nov 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRIM Common Stock Options Exercise +1.91K +15.4% 14.3K Feb 28, 2023 Direct F1
transaction PRIM Common Stock Tax liability -$12.8K -466 -3.25% $27.50 13.9K Mar 1, 2023 Direct F2
transaction PRIM Common Stock Options Exercise +7.38K +53.18% 21.2K Mar 1, 2023 Direct F3
transaction PRIM Common Stock Tax liability -$49.1K -1.8K -8.46% $27.32 19.5K Mar 1, 2023 Direct F2

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 -1.91K -5.41% $0.00 33.5K Feb 28, 2023 Common Stock 1.91K Direct F1
transaction PRIM Restricted Stock Units Options Exercise $0 -7.38K -22.04% $0.00 26.1K Mar 1, 2023 Common Stock 7.38K Direct F3
transaction PRIM Restricted Stock Units Award $0 +19.8K +75.98% $0.00 45.9K Mar 1, 2023 Common Stock 19.8K 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 February 28, 2023, 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 March 1, 2023, 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 25% on March 1, 2024, 25% on March 1, 2025, and 50% on March 1, 2026.