John M. Perisich - Mar 1, 2023 Form 4 Insider Report for Primoris Services Corp (PRIM)

Role
CHIEF LEGAL OFFICER
Signature
/s/ Kenneth M. Dodgen
Stock symbol
PRIM
Transactions as of
Mar 1, 2023
Transactions value $
-$31,426
Form type
4
Date filed
7/3/2023, 07:00 PM
Previous filing
Mar 2, 2023
Next filing
Sep 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRIM Common Stock Options Exercise +2.97K +1.83% 165K Jun 29, 2023 Family Trust F1, F2
transaction PRIM Common Stock Tax liability -$31.4K -1.03K -0.62% $30.60 164K Jun 29, 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 Award $0 +7.91K +25.58% $0.00 38.8K Mar 1, 2023 Common Stock 7.91K Direct F4, F5
transaction PRIM Restricted Stock Units Options Exercise $0 -2.97K -7.65% $0.00 35.9K Jun 29, 2023 Common Stock 2.97K Direct F1
* 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 June 29, 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 at Primoris.
F3 Witholding 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.
F5 The restricted stock units vest 25% on March 1, 2024, 25% on March 1, 2025, and 50% on March 1, 2026.