Ariqat Ghassan 4

What Happened

• Ariqat Ghassan, Executive Vice President of Tutor Perini Corporation (TPC), had 6,479 cash‑settled phantom stock units vest on March 12, 2026. The vested units were settled in cash at the closing stock price of $69.20, resulting in proceeds of $448,347. The Form 4 reports both the derivative conversion (code M) and the disposition back to the issuer (code D) required by SEC reporting rules.

Key Details

• Transaction date: March 12, 2026.
• Transaction types: Exercise/conversion of derivative (M) and disposition to issuer (D).
• Units/shares involved: 6,479 phantom stock units vested and cash‑settled.
• Price used: $69.20 per share; total cash settlement = $448,347.
• Shares owned after transaction: Not stated in the filing.
• Grant/vesting background (footnote): On March 12, 2025 Ghassan was granted 19,439 cash‑settled phantom units — 6,479 vested on March 12, 2026, and the remaining units vest in equal annual tranches on March 12, 2027 and 2028, contingent on continued employment.
• Filing timeliness: Reported on Form 4 filed March 16, 2026 (timely within required reporting window).

Context

• These were phantom (cash‑settled) stock units, not an acquisition of common shares; Ghassan did not buy or receive actual shares. SEC reporting conventions require showing the vesting as both an acquisition and an immediate disposition back to the issuer. This is a routine compensation vesting/settlement rather than an open‑market purchase or sale that would signal a change in insider sentiment.