Thomas Edward McCormick - 01 Mar 2023 Form 4 Insider Report for Primoris Services Corp (PRIM)

Role
CEO & PRESIDENT, Director
Signature
/s/ Kenneth M. Dodgen
Issuer symbol
PRIM
Transactions as of
01 Mar 2023
Transactions value $
-$102,143
Form type
4
Filing time
03 Jul 2023, 19:00:11 UTC
Previous filing
02 Mar 2023
Next filing
07 Dec 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 +8.48K +9.78% 95.2K 29 Jun 2023 Direct F1
transaction PRIM Common Stock Tax liability -$102K -3.34K -3.51% $30.60 91.8K 29 Jun 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 Award $0 +19.4K +25.79% $0.00 94.4K 01 Mar 2023 Common Stock 19.4K Direct F3, F4
transaction PRIM Restricted Stock Units Options Exercise $0 -8.48K -8.98% $0.00 86K 29 Jun 2023 Common Stock 8.48K 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 Witholding 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 on share of PRIM common stock or the cash value thereof on the date of settlement, in the Company's discretion.
F4 The restricted stock units vest 25% on March 1, 2024, 25% on March 1, 2025, and 50% on March 1, 2026.