John M. Perisich - Mar 1, 2024 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, 2024
Transactions value $
-$453,521
Form type
4
Date filed
3/5/2024, 08:16 PM
Previous filing
Sep 12, 2023
Next filing
May 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRIM Common Stock Options Exercise +11.1K 11.1K Mar 1, 2024 Direct F1
transaction PRIM Common Stock Award +13.8K +123.66% 24.9K Mar 1, 2024 Direct F2
transaction PRIM Common Stock Tax liability -$454K -11.4K -45.97% $39.64 13.4K Mar 1, 2024 Direct F3
holding PRIM Common Stock 145K Mar 1, 2024 Family Trust F4

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 -11.1K -31.03% $0.00 24.7K Mar 1, 2024 Common Stock 11.1K Direct F1
transaction PRIM Restricted Stock Units Award $0 +9.89K +39.98% $0.00 34.6K Mar 1, 2024 Common Stock 9.89K 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 March 1, 2024, the restricted stock units vested and were settled for an equal number of shares of PRIM common stock.
F2 These shares represent the acquisition of common stock resulting from the vesting of earned performance stock units issued under an equity incentive plan of the Company.
F3 Withholding of common stock to satisfy reporting person's tax obligation upon the settlement of vested restricted stock units and performance stock units.
F4 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.
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, 2025, 25% on March 1, 2026, and 50% on March 1, 2027.