secwatch.observer — SEC 8-K summary
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Issuer:     STERLING INFRASTRUCTURE, INC. (STRL)
CIK:        0000874238
Form:       8-K
Filed at:   2024-01-08T23:59:59+00:00
Accession:  0000874238-24-000015
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Sterling amends CEO Cutillo employment: $1M salary, PSUs tied to $100-$140 stock targets
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- Base salary increased to $1,000,000; annual short-term incentive target set at 115% of salary.
- Annual long-term incentive target minimum $3,500,000; special one-time grant of 160,000 PSUs awarded.
- PSUs vest on stock price targets: 20% at $100, 30% at $120, 50% at $140 per share.
- Enhanced change-of-control severance: 3x base salary and bonus (up from 2x), 24 months COBRA (up from 18).
- Potential additional 40,000 PSUs if employment extended to 4th year, vesting at $160 stock price target.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874238/000087423824000015/0000874238-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874238/000087423824000015/strl-20240105.htm
  HTML page:      https://secwatch.observer/filing/0000874238-24-000015

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