Form 4: Granite Construction CFO Staci M. Woolsey Reports Changes in Beneficial Ownership
SEC Form 4
Staci M. Woolsey, CFO of Granite Construction, reports acquisition and disposal of common stock units related to vesting and tax obligations.
Summary
- On March 14, 2025, Staci M. Woolsey, the CFO of Granite Construction, reported changes in her beneficial ownership of the company's common stock.
- These changes involve the acquisition of stock units that vest over time and the disposal of shares to cover tax obligations arising from the vesting of these units.
- Specifically, she acquired 2,194 shares, 3,216 shares and 7,121 shares of common stock units.
- She disposed of 405, 328 and 314 shares to cover taxes at a price of $74.05 per share.
- Following these transactions, Woolsey's directly owned holdings amount to 18,037 shares of Granite Construction common stock.
Sentiment
Score: 7
Explanation: The document reflects routine transactions related to executive compensation. There is no indication of positive or negative sentiment, but the transactions are part of a standard compensation package, suggesting stability.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects standard practices for equity-based compensation and tax management.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units (RSUs) that vest over time.
- The practice of surrendering shares to cover tax obligations upon vesting is a common method used by executives in many publicly traded companies, including those in the construction and engineering sectors such as Fluor Corporation and Jacobs Engineering Group.
- These companies also regularly report Form 4 filings related to changes in beneficial ownership by their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- They reflect standard executive compensation practices and do not signal any significant changes in the company's financial health or strategic direction.
Key Dates
| Date | Description |
|---|---|
| 03/14/2022 | Initial grant date for some of the stock units vesting on 03/14/2025. |
| 03/14/2023 | Initial grant date for some of the stock units vesting on 03/14/2025. |
| 03/14/2024 | Initial grant date for some of the stock units vesting on 03/14/2025. |
| 01/15/2025 | Date up to which dividend equivalents were credited to the Reporting Person. |
| 03/14/2025 | Date of the reported transactions: acquisition of stock units and disposal of shares for tax obligations. |
| 03/18/2025 | Date of signature for the Form 4 filing. |
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