SOROKA RYAN JOSEPH 4
4 · TUTOR PERINI CORP · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Tutor Perini (TPC) CFO Ryan Soroka Settles & Sells Vested Units
What Happened
Ryan Soroka, Executive Vice President & Chief Financial Officer of Tutor Perini Corporation (TPC), had cash‑settled phantom stock units vest on March 12 and March 13, 2026 and those vested units were settled for cash back to the issuer. Specifically, 5,831 units vested and were settled on March 12 at $69.20 per unit (proceeds $403,505) and 4,779 units vested and were settled on March 13 at $67.76 per unit (proceeds $323,825). The total cash settlement was approximately $727,330. Although the Form 4 shows both an “acquisition/conversion” (M) and a “disposition to issuer” (D) for these units, no company shares were purchased or sold in the open market — these were cash settlements of phantom units.
Key Details
- Transaction dates and amounts:
- Mar 12, 2026: 5,831 phantom units settled at $69.20 → $403,505 (reported as M and D)
- Mar 13, 2026: 4,779 phantom units settled at $67.76 → $323,825 (reported as M and D)
- Total cash received by Soroka: ≈ $727,330
- Shares owned after transaction: Not disclosed in the filing
- Notable footnotes:
- F1: Grant on Mar 12, 2025 of 17,495 cash‑settled phantom units; 5,831 vested on Mar 12, 2026 (remaining vest in 2027–2028 if employment continues).
- F2: Grant on Mar 13, 2024 of 14,337 cash‑settled phantom units; 4,779 vested on Mar 13, 2026 (remaining vest in 2027 if employment continues).
- The footnotes explain these were cash‑settled phantom stock units and were paid in cash equal to units × closing share price on the vesting date; the reporting shows acquisition and disposition back to the issuer per SEC reporting rules.
- Filing timeliness: Report filed Mar 16, 2026; filing appears timely relative to the Mar 12–13 transactions.
Context
These transactions reflect routine vesting and cash settlement of deferred compensation (phantom stock units), not an open‑market sale of shares or a purchase. For retail investors, cash settlements of phantom units are a compensation event and do not directly signal the insider buying or holding additional company stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-12+5,831→ 48,714 total - Disposition to Issuer
Common Stock
[F1]2026-03-12$69.20/sh−5,831$403,505→ 42,883 total - Exercise/Conversion
Common Stock
[F2]2026-03-13+4,779→ 47,662 total - Disposition to Issuer
Common Stock
[F2]2026-03-13$67.76/sh−4,779$323,825→ 42,883 total - Exercise/Conversion
Phantom Stock Units
[F1]2026-03-12−5,831→ 11,664 total→ Common Stock (5,831 underlying) - Exercise/Conversion
Phantom Stock Units
[F2]2026-03-13−4,779→ 4,779 total→ Common Stock (4,779 underlying)
Footnotes (2)
- [F1]On March 12, 2025, the reporting person was granted 17,495 cash-settled phantom stock units, of which 5,831 vested on March 12, 2026 and 5,832 vest on each of March 12, 2027 and 2028, contingent upon the reporting person's continued employment through each applicable vesting date. The 5,831 phantom stock units that vested on March 12, 2026 were settled in cash at a value equal to the number of units vested multiplied by the closing price per share of common stock of Tutor Perini Corporation (Issuer) on the vesting date. The reporting person did not purchase or sell any shares of common stock in the settlement of this award, however, the transaction is required to be reported as an acquisition and disposition of shares back to the Issuer under SEC reporting principles.
- [F2]On March 13, 2024, the reporting person was granted 14,337 cash-settled phantom stock units, of which 4,779 vested on each of March 13, 2025 and 2026 and 4,779 vest on March 13, 2027, contingent upon the reporting person's continued employment through each applicable vesting date. The 4,779 phantom stock units that vested on March 13, 2026 were settled in cash at a value equal to the number of units vested multiplied by the closing price per share of common stock of Tutor Perini Corporation (Issuer) on the vesting date. The reporting person did not purchase or sell any shares of common stock in the settlement of this award, however, the transaction is required to be reported as an acquisition and disposition of shares back to the Issuer under SEC reporting principles.