secwatch.observer — SEC 8-K summary
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Issuer:     Primoris Services Corp (PRIM)
CIK:        0001361538
Form:       8-K
Filed at:   2022-04-07T23:59:59+00:00
Accession:  0001361538-22-000015
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Primoris amends employment agreements for CEO, COO, CFO, and Chief Legal Officer
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- CEO Tom McCormick base salary $850k; bonus target 120% of base; severance 2x base (non-CIC) or 2.5x base+target (CIC).
- COO John Moreno base $600k, bonus target 100%; severance 1x base (non-CIC) or 2x base+target (CIC).
- CFO Ken Dodgen and CLO John Perisich each base $530k, bonus target 100%; same severance structure as Moreno.
- Non-compete periods: 2 years for CEO, 1 year for others on for-cause termination; up to 30 months CEO/2 years others post-CIC.
- Agreements dated April 1, 2022; replace prior agreements from 2016-2019.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361538/000136153822000015/0001361538-22-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361538/000136153822000015/prim-20220401x8k.htm
  HTML page:      https://secwatch.observer/filing/0001361538-22-000015

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