Related Party Transactions

12 Months Ended

Dec. 31, 2016

Related Party Transactions

Related Party Transactions

Note 22—Related Party Transactions

Primoris has entered into leasing transactions with Stockdale Investment Group, Inc. (“SIGI”).  Our Chairman of the Board of Directors and our largest stockholder, Brian Pratt and his family, holds a majority interest of SIGI.  John M. Perisich, our Executive Vice President and General Counsel, is secretary of SIGI.  The leases are for three properties used by the Company in California, with various expiration dates, with the last expiring in 2023.  During the years ended December 31, 2016, 2015 and 2014, the Company paid $849,  $831 and $862, respectively, in lease payments to SIGI for the use of these properties.  We intend to purchase the SIGI properties in the first quarter of 2017.

Primoris leases properties from other individuals that were past sellers of acquisitions or are current employees.  The amounts leased are not material and each arrangement was approved by the Board of Directors.