Tutor Perini Corporation (NYSE:TPC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Employment Agreement for Executive Vice President and Chief Financial Officer

On September 6, 2017, Tutor Perini Corporation (the “Company”) entered into an employment agreement (the “Employment Agreement”) with Gary Smalley, Executive Vice President and Chief Financial Officer of the Company, superseding Mr. Smalley’s previous employment agreement with the Company dated November 9, 2015. The term of the Employment Agreement is through December 31, 2020 and is subject to automatic extensions for successive 12-month terms. The Employment Agreement provides for, among other provisions, an annual base salary of $950,000 and an annual cash bonus targeted at 50% of the annual base salary (with greater amounts, up to 150% of the annual base salary, or lesser amounts, including zero, paid for performance above and below target). In addition, the Employment Agreement provides for the following long-term equity incentive awards, which are scheduled to vest on September 5, 2020: performance-based awards consisting of 112,500 restricted stock units (“RSUs”) and 112,500 stock options, and time-based awards consisting of 112,500 RSUs and 112,500 stock options. The Employment Agreement also entitles Mr. Smalley to certain severance and change of control payments under circumstances specified in the agreement, as well as certain perquisites and other benefits.

The foregoing summary of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the complete terms of the Employment Agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.

Item 9.01Financial Statements and Exhibits

(d)Exhibits

TUTOR PERINI CORP Exhibit
EX-10.1 2 tpc-20170908xex10_1.htm EX-10.1 Exhibit 10_1 – Smalley Agreement EMPLOYMENT AGREEMENT  This EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of the 6th day of September 2017,…
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About Tutor Perini Corporation (NYSE:TPC)

Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure. The civil contracting services include construction and rehabilitation of highways, bridges and mass-transit systems. The Building segment provides services to a range of building markets for private and public works customers, including the residential, hospitality and gaming, transportation, healthcare, commercial and government offices, education, biotech, pharmaceutical and industrial markets. The Specialty Contractors segment specializes in electrical, mechanical, plumbing and fire protection systems. It also offers a range of civil and building construction projects in the industrial and commercial markets.

Tutor Perini Corporation (NYSE:TPC) Recent Trading Information

Tutor Perini Corporation (NYSE:TPC) closed its last trading session up +0.30 at 25.95 with 182,065 shares trading hands.