Form 4: Granite Construction SVP Michael Tatusko Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Senior Vice President Michael G. Tatusko reports stock transactions related to vesting and dividend reinvestment in Granite Construction Inc.
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 stock.
- On March 14, 2024, Tatusko acquired 2,066 shares of common stock and 13,918 stock units.
- He also disposed of shares to cover tax obligations related to vesting: 251 shares for the 6/2/21 grant, 426 shares for the 3/14/22 grant, and 366 shares for the 3/14/23 grant, all at a price of $54.44.
- His direct holdings of common stock after these transactions totaled 18,481.28 shares.
- He also has 5,516.25 shares held indirectly through an ESOP.
- The stock units granted vest in installments or fully ten days after the grant date, according to the 2021 Equity Incentive Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to compensation and does not indicate a significant shift in the insider's holdings or outlook.
Positives
- The acquisition of 13,918 stock units indicates continued alignment with the company's long-term performance.
- Dividend equivalents are being reinvested, increasing the reporting person's holdings.
Negatives
- The disposal of shares to cover tax obligations reduces the number of shares directly held by the reporting person.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. They are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 06/02/2021 | Initial grant date for some of the shares surrendered for taxes. |
| 03/14/2022 | Initial grant date for some of the shares surrendered for taxes. |
| 04/14/2023 | Date of dividend equivalents credited to the Reporting Person. |
| 07/14/2023 | Date of dividend equivalents credited to the Reporting Person. |
| 10/13/2023 | Date of dividend equivalents credited to the Reporting Person. |
| 01/12/2024 | Date of dividend equivalents credited to the Reporting Person. |
| 03/14/2024 | Date of transaction: acquisition and disposal of shares. |
| 03/18/2024 | Date of signature on the Form 4. |
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