Primoris Services Management

Management criteria checks 2/4

Primoris Services' CEO is Tom McCormick, appointed in Apr 2019, has a tenure of 4.67 years. total yearly compensation is $7.00M, comprised of 12.7% salary and 87.3% bonuses, including company stock and options. directly owns 0.16% of the company’s shares, worth €3.69M. The average tenure of the management team and the board of directors is 5.2 years and 4.7 years respectively.

Key information

Tom McCormick

Chief executive officer

US$7.0m

Total compensation

CEO salary percentage	12.7%
CEO tenure	5yrs
CEO ownership	0.2%
Management average tenure	5.2yrs
Board average tenure	4.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tom McCormick's remuneration changed compared to Primoris Services's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$7m	US$891k	US$126m
Sep 30 2023	n/a	n/a	US$130m
Jun 30 2023	n/a	n/a	US$125m
Mar 31 2023	n/a	n/a	US$136m
Dec 31 2022	US$3m	US$833k	US$133m
Sep 30 2022	n/a	n/a	US$121m
Jun 30 2022	n/a	n/a	US$122m
Mar 31 2022	n/a	n/a	US$108m
Dec 31 2021	US$3m	US$737k	US$116m
Sep 30 2021	n/a	n/a	US$118m
Jun 30 2021	n/a	n/a	US$118m
Mar 31 2021	n/a	n/a	US$115m
Dec 31 2020	US$2m	US$653k	US$105m
Sep 30 2020	n/a	n/a	US$100m
Jun 30 2020	n/a	n/a	US$92m
Mar 31 2020	n/a	n/a	US$77m
Dec 31 2019	US$1m	US$594k	US$82m
Sep 30 2019	n/a	n/a	US$88m
Jun 30 2019	n/a	n/a	US$85m
Mar 31 2019	n/a	n/a	US$79m
Dec 31 2018	US$1m	US$560k	US$77m
Sep 30 2018	n/a	n/a	US$68m
Jun 30 2018	n/a	n/a	US$56m
Mar 31 2018	n/a	n/a	US$65m
Dec 31 2017	US$1m	US$539k	US$72m

Compensation vs Market: Tom's total compensation ($USD7.00M) is above average for companies of similar size in the German market ($USD2.56M).

Compensation vs Earnings: Tom's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Tom McCormick (61 yo)

5yrs

Tenure

US$7,004,628

Compensation

Mr. Thomas E. McCormick, also known as Tom, has been the Chief Executive Officer and President of Primoris Services Corporation since November 4, 2019 and April 1, 2019 respectively and serves as its Direc...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thomas McCormick	CEO, President & Director	5yrs	US$7.00m	0.16% $ 3.7m
Kenneth Dodgen	Executive VP & CFO	5.4yrs	US$3.00m	0.087% $ 2.0m
John Perisich	Executive VP	10.9yrs	US$3.22m	0.30% $ 6.9m
Travis Stricker	Chief Accounting Officer & Senior VP of Finance	5.5yrs	no data	0.017% $ 393.4k
Chad Haxton	Chief Information Officer	1.3yrs	no data	no data
Blake Holcomb	Vice President of Investor Relations	no data	no data	no data
Rhonda Anderson	Chief Human Resources Officer	1.3yrs	no data	no data

5.2yrs

Average Tenure

57.5yo

Average Age

Experienced Management: 1PM's management team is seasoned and experienced (5.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thomas McCormick	CEO, President & Director	4.7yrs	US$7.00m	0.16% $ 3.7m
Terry McCallister	Independent Director	3.8yrs	US$240.91k	0.050% $ 1.2m
Carla Mashinski	Independent Director	5.1yrs	US$245.91k	0.044% $ 1.0m
John Schauerman	Independent Director	7.4yrs	US$240.91k	0.41% $ 9.5m
Stephen Cook	Independent Lead Director	15.8yrs	US$255.91k	0.018% $ 426.3k
Patricia Wagner	Independent Director	3.8yrs	US$240.91k	0.031% $ 719.2k
Eng Ching	Independent Director	1.9yrs	US$225.91k	0.016% $ 382.5k
David King	Non-Executive Chairman	8.9yrs	US$345.91k	0.054% $ 1.3m
Jose Rodriguez	Independent Director	2.9yrs	US$225.91k	0.025% $ 571.2k

4.7yrs

Average Tenure

64yo

Average Age

Experienced Board: 1PM's board of directors are considered experienced (4.7 years average tenure).

Primoris Services Management

Management criteria checks 2/4

Key information

Recent management updates

Primoris Services Corporation, Annual General Meeting, May 01, 2024

Independent Director recently sold €746k worth of stock

Insider recently sold €275k worth of stock

CEO, President & Director recently sold €1.5m worth of stock

Executive VP recently sold €595k worth of stock

Independent Director recently sold €644k worth of stock

Recent updates

Primoris Services Corporation to Report Q1, 2024 Results on May 08, 2024

Primoris Services Corporation, Annual General Meeting, May 01, 2024

Upcoming dividend of US$0.06 per share

Independent Director recently sold €746k worth of stock

Insider recently sold €275k worth of stock

Fourth quarter dividend of US$0.06 announced

Primoris Services Corporation Provides Earnings Guidance for the Year Ending December 31, 2024

Full year 2023 earnings released: EPS: US$2.37 (vs US$2.50 in FY 2022)

Primoris Services Corporation Declares Cash Dividend , Payable on Approximately April 15, 2024

Primoris Services Corporation to Report Q4, 2023 Results on Feb 26, 2024

Upcoming dividend of US$0.06 per share at 0.7% yield

CEO, President & Director recently sold €1.5m worth of stock

Primoris Services Corporation Reaffirms Earning Guidance for Year Ending December 31, 2023

Third quarter 2023 earnings released: EPS: US$0.90 (vs US$0.81 in 3Q 2022)

Primoris Services Corporation to Report Q3, 2023 Results on Nov 07, 2023

Upcoming dividend of US$0.06 per share at 0.7% yield

Executive VP recently sold €595k worth of stock

Independent Director recently sold €644k worth of stock

New minor risk - Profit margin trend

Second quarter 2023 earnings released: EPS: US$0.73 (vs US$0.94 in 2Q 2022)

Primoris Services Corporation Provides Earnings Guidance for the Year Ending December 31, 2023

Primoris Services Corporation to Report Q2, 2023 Results on Aug 07, 2023

Independent Director recently sold €551k worth of stock

Upcoming dividend of US$0.06 per share at 0.8% yield

Independent Director recently sold €516k worth of stock

Primoris Services Corporation Announces Resignation of John F. Moreno as Chief Operating Officer

First quarter 2023 earnings released: EPS: US$0.025 (vs US$0.031 loss in 1Q 2022)

Primoris Services Corporation Declares Cash Dividend, Payable on Approximately July 14, 2023

Independent Lead Director recently sold €157k worth of stock

Upcoming dividend of US$0.06 per share at 1.0% yield

Non-Executive Chairman recently sold €256k worth of stock

Full year 2022 earnings released: EPS: US$2.50 (vs US$2.20 in FY 2021)

Primoris Services Corporation to Report Q4, 2022 Results on Feb 27, 2023

Upcoming dividend of US$0.06 per share

Executive VP & COO recently sold €220k worth of stock

Third quarter 2022 earnings released: EPS: US$0.81 (vs US$0.82 in 3Q 2021)

Primoris Services Corporation Declares Dividend, Payable on January 13, 2023

Primoris Services Corporation to Report Q3, 2022 Results on Nov 07, 2022

Upcoming dividend of US$0.06 per share

Primoris Services Corporation Provides Earnings Guidance for the Full Year Ending December 31, 2022

Second quarter 2022 earnings released: EPS: US$0.94 (vs US$0.68 in 2Q 2021)

Primoris Services Corporation (NasdaqGS:PRIM) completed the acquisition of PLH Group, Inc.

Primoris Services Corporation to Report Q2, 2022 Results on Aug 08, 2022

Primoris Services Corporation (NasdaqGS:PRIM) entered into an Agreement and Plan of Merger to acquire PLH Group, Inc. for approximately $470 million.

Upcoming dividend of US$0.06 per share

High number of new directors

First quarter 2022 earnings released: US$0.031 loss per share (vs US$0.12 profit in 1Q 2021)

Primoris Services Corporation Announces Committee Appointments

Primoris Services Corporation Announces Board Changes

Primoris Services Corporation to Report Q1, 2022 Results on May 09, 2022

Non-Executive Chairman recently sold €484k worth of stock

Upcoming dividend of US$0.06 per share

Investor sentiment improved over the past week

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Primoris Services Corporation Declares Cash Dividend, Payable on April 14, 2022

Primoris Services Corporation to Report Q4, 2021 Results on Feb 28, 2022

Upcoming dividend of US$0.06 per share

Third quarter 2021 earnings released: EPS US$0.82 (vs US$0.91 in 3Q 2020)

Upcoming dividend of US$0.06 per share

Independent Director recently bought €209k worth of stock

Primoris Services Corporation Provides Earnings Guidance for the Year Ending December 31, 2021

Second quarter 2021 earnings released: EPS US$0.68 (vs US$0.68 in 2Q 2020)

Primoris Services Corporation(NasdaqGS:PRIM) dropped from Russell 3000 Growth Index

Upcoming dividend of US$0.06 per share

Independent Director has left the company

Independent Director has left the company

Primoris Services Corporation Provides Earnings Guidance for the Year Ending December 31, 2021

First quarter 2021 earnings released: EPS US$0.12 (vs US$0.077 loss in 1Q 2020)

Primoris Services Corporation Declares Cash Dividend, Payable on July 15, 2021