Management ChangeOct 13, 2026, 06:21 AM
Tutor Perini Director Sidney Feltenstein to Resign
AI Summary
Tutor Perini Corporation announced that Sidney Feltenstein will resign from the Board of Directors, effective October 30, 2026. This departure is a consequence of Ronald N. Tutor's beneficial ownership of the Company's common stock falling below the 11.25% threshold required by a Shareholders Agreement to designate a Board member. The Company anticipates reducing the size of its Board following Mr. Feltenstein's resignation. Mr. Feltenstein has served on the Board for 13 years.
Key Highlights
- Sidney Feltenstein to resign from the Board of Directors effective October 30, 2026.
- Resignation follows Ronald N. Tutor's beneficial ownership falling below 11.25% threshold.
- Tutor's designation right to a Board seat is contingent on maintaining at least 11.25% ownership.
- The Board is expected to reduce its size following Mr. Feltenstein's departure.
Price Impact
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