Home > Insider Trading > Filing (0001179110-14-008841)

Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1361538	Primoris Services Corp	PRIM	Water, Sewer, Pipeline, Comm & Power Line Construction (1623)	204743916

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1441252	Brian Pratt	C/O Primoris Services Corporation 2100 Mckinney Avenue, Suite 1500 Dallas TX 75201	Chairman, Ceo & President	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2014-05-19	74,500	$29.30	11,861,518	No	4	S	Direct
Common Stock	Disposition	2014-05-20	670,500	$28.02	11,191,018	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	97,810	Indirect	by Spouse

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Forward Sale Contract (obligation to sell)	$0.00	2017-03-08	2017-05-03	400,000	0	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2017-05-03	400,000	0	Direct

Footnotes

On March 31, 2014, Mr. Pratt entered into a prepaid variable forward sale with an unaffiliated third party. The contract obliges Mr. Pratt to deliver to the buyer up to 400,000 shares of PRIM common stock (or, at Mr. Pratt's election, an equivalent amount of cash based on the market price of PRIM common stock at that time) on the maturity dates of the contract. The maturity dates are the 40 business days starting March 8, 2017 and ending May 3, 2017 with 10,000 shares maturing each day. For assuming this obligation, Mr. Pratt will receive $9,860,364 as of March 31, 2014. Mr. Pratt has pledged 400,000 shares of PRIM common stock to secure the obligations. He has retained voting rights of the pledged shares.
On each maturity date, the number of shares delivered to the buyer will be determined as follows: (a) If the settlement price is less than or equal to $25.6446/share, Mr. Pratt will deliver 10,000 shares; (b) if the settlement price is greater than $25.6446/share but less than or equal to $36.8321/share, he will deliver shares equal to the product of 10,000 shares multiplied by $25.6446 divided by the settlement price; or (c) if the settlement price is greater than $36.8321/share, he will deliver shares equal to the result of subtracting the quotient of $111,875 divided by the settlement price from 10,000 shares.