CEO Thomas McCormick sells 61,390 shares for $3.9M at $64.10 avg, reducing PRIM stake by 56.7%
CEO Thomas McCormick executed 2 separate sales on 2025-03-17, totaling 61,390 shares for $3,935,120.24 at a blended average price of $64.10. This represents a substantial reduction in his holdings from 108,186 shares to 46,796 shares—a 56.7% decrease in his position at the company. The sale occurs as the stock is down 12.0% over the past 30 days and 19.2% over the past 90 days from current levels, trading 27.3% below its 52-week high of $89.03. In his cross-ticker track record, McCormick's 3 prior open-market sells averaged a 90-day return of -4.8% with a 100% well-timed rate, indicating his prior sales preceded stock declines. However, his same-ticker history at PRIM shows 1 of 1 measurable prior sells was well-timed (2024-11-13 sale, 90d return -4.8%), though two additional PRIM sales from late 2023 lack yet-measurable outcomes. The company's fundamentals remain solid: $1.6B in latest quarterly revenue, $58.4M net income, 11.4% annual revenue growth, and a modest P/E of 15.86.