Form 4: GLDD Director Acquires Deferred Stock Units

Great Lakes Dredge & Dock Corp. Director Lawrence R. Dickerson reported the acquisition of 3,806 deferred stock units and beneficial ownership of 86,217 common shares.

Summary

• Lawrence R. Dickerson, a Director at Great Lakes Dredge & Dock Corp. (GLDD), reported changes in his beneficial ownership.
• He acquired 3,806 Deferred Stock Units (DSUs) on December 31, 2025.
• These DSUs were granted pursuant to the Company's Director Deferral Plan and will be payable in common stock on a 1-for-1 basis when his board service ends.
• Following these transactions, Mr. Dickerson beneficially owns 86,217 shares of common stock directly.
• He also beneficially owns 74,024 Deferred Stock Units.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 6

Explanation: The filing indicates an insider acquisition of deferred stock units, which generally signals confidence, but it's a routine compensation event rather than a direct market purchase, making it moderately positive for alignment.

Positives

• Director Lawrence R. Dickerson acquired 3,806 Deferred Stock Units, aligning his interests with shareholders through equity-based compensation.

Future Outlook

Deferred Stock Units will be payable in common stock on a 1-for-1 basis upon the termination of Mr. Dickerson's board service.

Industry Context

This filing is a routine insider transaction report, specific to a director's compensation and beneficial ownership, and does not provide information related to broader industry trends or competitive landscape.

Corporate Governance

Related Party Transactions

• Grant of 3,806 Deferred Stock Units to Director Lawrence R. Dickerson as part of his compensation under the Director Deferral Plan.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholders through equity compensation.
• Director: Receives deferred equity compensation, tying personal wealth to company performance.

Next Steps

• Deferred Stock Units will convert to common stock upon the cessation of Mr. Dickerson's board service.

Key Dates

Recommendation

This Form 4 reports a routine grant of deferred stock units to a director as part of their compensation plan. While it indicates continued alignment of interests, it does not present new fundamental information to alter an investment thesis, thus a 'hold' recommendation is appropriate.

Keywords

GLDD, Great Lakes Dredge & Dock, Form 4, insider transaction, director compensation, deferred stock units, beneficial ownership, Rule 10b5-1