John M. Perisich - 28 Feb 2023 Form 4 Insider Report for Primoris Services Corp (PRIM)

Role
CHIEF LEGAL OFFICER
Signature
/s/ Kenneth M. Dodgen
Issuer symbol
PRIM
Transactions as of
28 Feb 2023
Net transactions value
-$89,273
Form type
4
Filing time
02 Mar 2023, 16:43:44 UTC
Previous filing
02 Mar 2022
Next filing
03 Jul 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 +2,494 +1.6% 158,804 28 Feb 2023 Family Trust F1, F2
transaction PRIM Common Stock Tax liability $23,732 -863 -0.54% $27.50 157,941 28 Feb 2023 Family Trust F2, F3
transaction PRIM Common Stock Options Exercise +6,935 +4.4% 164,876 01 Mar 2023 Family Trust F2, F4
transaction PRIM Common Stock Tax liability $65,541 -2,399 -1.5% $27.32 162,477 01 Mar 2023 Family Trust F2, F3

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 -2,494 -7.9% $0.000000 28,995 28 Feb 2023 Common Stock 2,494 Direct F1
transaction PRIM Restricted Stock Units Options Exercise $0 -6,935 -24% $0.000000 22,060 01 Mar 2023 Common Stock 6,935 Direct F4
transaction PRIM Restricted Stock Units Award $0 +8,864 +40% $0.000000 30,924 01 Mar 2023 Common Stock 8,864 Direct F5, F6
* 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 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.
F3 Withholding of common stock to satisfy reporting person's tax obligation upon the settlement of vested restricted stock units.
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. On March 1, 2023, the restricted stock units vested and were settled for an equal number of shares of PRIM common stock.
F5 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.
F6 The restricted stock units vest 25% on March 1, 2024, 25% on March 1, 2025, and 50% on March 1, 2026.