Primoris Services Corporation Announces Results of Annual Stockholders Meeting

Rhea-AI Summary

Primoris Services Corporation announces results of Annual Meeting of Stockholders

Positive

• Stockholders approved the election of nine directors at Primoris Services Corporation's Annual Meeting of Stockholders. The Company's 2023 Equity Incentive Plan was also approved.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Primoris Services Corporation (NYSE: PRIM) (“Primoris” or “the Company”) today announced the results of the Company’s Annual Meeting of Stockholders held virtually via webcast on May 3, 2023.

At the meeting, stockholders approved the election of nine directors. The directors are: David L. King, Chairman, Primoris; Michael E. Ching, Global Head of Investment Research, Evalueserve; Stephen C. Cook, President and Principal Stockholder, Fieldstone Partners; Carla S. Mashinski, former Chief Financial Officer, Cameron LNG; Terry D. McCallister, former Chairman and Chief Executive Officer, WGL Holdings, Inc. and Washington Gas; Thomas E. McCormick, President and Chief Executive Officer of Primoris; Jose R. Rodriguez, former senior audit partner at KPMG LLP; John P. Schauerman, former Executive Vice President of Corporate Development, Primoris; and Patricia K. Wagner, former Group President of U.S. Utilities for Sempra Energy.

Proposal 2: Advisory, Non-Binding Vote Approving the Company’s Named Executive Officer Compensation was approved.

Proposal 3: Advisory, Non-Binding Vote Approving the Frequency of Advisory Votes on Named Executive Officer Compensation was approved.

The stockholders also approved the ratification of the selection of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023.

Primoris Services Corporation’s 2023 Equity Incentive Plan was also approved by stockholders and is in effect as of May 4, 2023.

David L. King, Chairman of the Board, said, “I want to thank our shareholders for their commitment and partnership. We appreciate the trust you have placed in our Board and leadership team to successfully execute and create long-term shareholder value.”

About Primoris

Primoris Services Corporation is a premier specialty contractor providing critical infrastructure services to the utility, energy, and renewables markets throughout the United States and Canada. Built on a foundation of trust, we deliver a range of engineering, construction, and maintenance services that power, connect, and enhance society. On projects spanning utility-scale solar, renewables, power delivery, communications, and transportation infrastructure, we offer unmatched value to our clients, a safe and entrepreneurial culture to our employees, and innovation and excellence to our communities. To learn more, visit www.prim.com and follow us on social media at @PrimorisServicesCorporation.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including the Company’s future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “will”, “would” or similar expressions. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of regulation and the economy, generally. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results may differ materially as a result of a number of factors, including, among other things, the risks described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2022, and our other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230505005507/en/

Blake Holcomb

Vice President, Investor Relations

214-545-6773

bholcomb@prim.com

Source: Primoris Services Corporation

FAQ

What was approved at Primoris Services Corporation's Annual Meeting of Stockholders?

Stockholders approved the election of nine directors and the Company's 2023 Equity Incentive Plan.

Who are the elected directors?

The elected directors are David L. King, Michael E. Ching, Stephen C. Cook, Carla S. Mashinski, Terry D. McCallister, Thomas E. McCormick, Jose R. Rodriguez, John P. Schauerman, and Patricia K. Wagner.

Who is the Chairman of the Board?

David L. King is the Chairman of the Board of Primoris Services Corporation.

What did David L. King say about the meeting?

David L. King thanked the shareholders for their commitment and partnership.