Form 4: Granite Construction Inc. Executive Staci M. Woolsey Reports Stock Transactions
SEC Form 4
Staci M. Woolsey, Chief Accounting Officer of Granite Construction Inc., reports acquisition and disposal of common stock related to vesting of stock units and tax obligations.
Summary
- On March 14, 2024, Staci M. Woolsey, Chief Accounting Officer of Granite Construction Inc., reported transactions involving the company's common stock.
- Woolsey acquired 1,836 shares of common stock at $0, representing stock units granted under the 2021 Equity Incentive Plan, which vest in three equal annual installments.
- The total holdings were adjusted to include dividend equivalents.
- Woolsey also disposed of 401 shares at $54.44 and 325 shares at $54.44 to cover tax obligations related to the vesting of stock units from grants made on March 14, 2022, and March 14, 2023, respectively.
- Following these transactions, Woolsey beneficially owns 5,564 shares of Granite Construction Inc. common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing represents routine transactions related to executive compensation and tax obligations. There is no indication of unusual or concerning activity.
Positives
- The acquisition of shares indicates continued alignment of the executive's interests with the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice in the construction industry, similar to how investors track insider activity at companies like Fluor Corporation and Jacobs Engineering Group.
- The vesting schedules and equity incentive plans are typical compensation tools used across the industry to align executive interests with shareholder value, comparable to plans offered by competitors such as AECOM and KBR.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are part of standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 03/14/2022 | Initial grant date of stock units related to tax obligations. |
| 03/14/2023 | Initial grant date of stock units related to tax obligations. |
| 10/13/2023 | Date of dividend equivalents (DEUs). |
| 01/12/2024 | Date of dividend equivalents (DEUs). |
| 03/14/2024 | Date of stock transactions: acquisition and disposal. |
| 03/18/2024 | Date of signature on the Form 4 filing. |
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