secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2021-08-30T23:59:59+00:00
Accession:  0000077543-21-000078
Event type: leadership
Sentiment:  positive
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini extends CEO Ron Tutor's contract to 2026 with enhanced comp and transition bonuses
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- CEO Ron Tutor's employment extended through Dec 31, 2026; CEO period ends Dec 31, 2024, then Executive Chairman.
- Base salary increased to $1.9M/yr (CEO period) then $1.85M/yr; target bonus 175% of salary through 2024.
- Up to $3M in transition bonuses: $1.5M upon Board approval of successor CEO by June 2024, $1.5M after mentoring.
- Annual equity grants: $8M target value (RSUs + performance units) for 2021-2024; $4M time-based RSUs for 2025-2026.
- Severance benefits enhanced for change-in-control termination, including cash value of future RSU grants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754321000078/0000077543-21-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754321000078/tpc-20210825.htm
  HTML page:      https://secwatch.observer/filing/0000077543-21-000078

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer