Form 4: Granite Construction SVP Michael G. Tatusko Reports Changes in Beneficial Ownership
SEC Form 4
Senior Vice President Michael G. Tatusko reports acquisition and disposal of Granite Construction Inc. stock units and common stock due to vesting and tax obligations.
Summary
- Michael G. Tatusko, a Senior Vice President at Granite Construction Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities on March 14, 2025.
- The transactions include the acquisition of common stock units through vesting and dividend equivalents, as well as the disposal of shares to cover tax obligations.
- Specifically, Tatusko acquired 1,772 stock units, 4,396 stock units, and 9,735 stock units at $0 due to vesting.
- He also disposed of 429, 369, and 273 shares of common stock at $74.05 to cover taxes related to vesting.
- The report also reflects an adjustment to include dividend equivalents credited to Tatusko under Granite Construction Incorporated's equity plans.
- Additionally, the report includes an adjustment to reflect dividends earned under the dividend reinvestment feature of the ESOP Plan.
- Following these transactions, Tatusko directly owns 36,790.28 shares of common stock and indirectly owns 5,549.09 shares through an ESOP.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation. There are no indications of significant positive or negative developments.
Positives
- The acquisition of stock units indicates continued alignment of the executive's interests with the company's performance.
Negatives
- The disposal of shares to cover tax obligations, while routine, slightly reduces the executive's direct stake in the company.
Risks
- There are no specific risks highlighted in this document, as it primarily details routine stock transactions related to vesting and tax obligations.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are common across all publicly traded companies and are used to ensure fair market practices.
Comparison to Industry Standards
- Monitoring executive stock ownership is a standard practice in corporate governance.
- Companies like Fluor Corporation (FLR) and Jacobs Engineering Group (J) also have executives who regularly file Form 4s related to stock options and vesting schedules.
- The vesting schedules and tax-related sales are typical components of executive compensation packages in the construction industry.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and do not indicate any fundamental changes in the company's operations or financial health.
Key Dates
| Date | Description |
|---|---|
| 03/14/2022 | Initial grant date for some of the stock units that vested on 03/14/2025. |
| 03/14/2023 | Initial grant date for some of the stock units that vested on 03/14/2025. |
| 10/15/2024 | Date dividend equivalents were credited to the Reporting Person. |
| 01/15/2025 | Date dividend equivalents were credited to the Reporting Person. |
| 03/14/2025 | Date of the reported transactions, including acquisition and disposal of shares. |
| 03/18/2025 | Date of the report filing. |
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