Form 4: Granite Construction CEO Kyle Larkin Sells 30,000 Shares Under 10b5-1 Trading Plan
SEC Filing
Granite Construction's CEO, Kyle T. Larkin, executed an automatic sale of 30,000 shares of common stock at an average price of $89.28 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan.
Summary
- On November 5, 2024, Kyle T. Larkin, President & CEO of Granite Construction Inc., sold 30,000 shares of common stock.
- The sale was executed automatically under a Rule 10b5-1 trading plan adopted on August 6, 2024.
- The shares were sold at a weighted average price of $89.28, with individual transactions ranging from $89.26 to $89.29.
- Following the transaction, Larkin directly owns 93,980 shares of Granite Construction Inc.
- This total includes dividend equivalents credited to Larkin under the company's equity plans.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing simply reports a pre-planned stock sale by the CEO. It doesn't inherently indicate positive or negative performance.
Industry Context
Executive stock sales are common and often pre-planned to avoid accusations of insider trading. Rule 10b5-1 plans allow insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The stock sale could have a minor impact on shareholders, depending on market perception.
- The sale does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| August 6, 2024 | Date the Rule 10b5-1 trading plan was adopted by Kyle T. Larkin. |
| November 5, 2024 | Date of the stock sale transaction. |
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