Form 4: GLDD Director Disposes Shares Post-Merger

A director of Great Lakes Dredge & Dock Corporation disposed of all common stock holdings following the company's acquisition by Saltchuk Resources, Inc. for $17.00 per share.

Summary

• Dana A Armstrong, a Director of Great Lakes Dredge & Dock Corporation (GLDD), reported the disposal of 8,436 shares of common stock.
• The transaction occurred on April 1, 2026, as a result of a merger agreement.
• Pursuant to the Merger Agreement dated February 10, 2026, Great Lakes Dredge & Dock Corporation merged with Huron MergeCo, Inc., a subsidiary of Saltchuk Resources, Inc. ('Parent').
• GLDD survived the merger as a wholly-owned subsidiary of Saltchuk Resources, Inc.
• At the effective time of the merger, each outstanding share of GLDD common stock was cancelled and converted into the right to receive $17.00 in cash.
• Following the reported transaction, Dana A Armstrong beneficially owns 0 shares of GLDD common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, reporting a mandatory insider transaction following a corporate acquisition. It provides factual information about a completed event rather than indicating positive or negative operational performance.

Future Outlook

The filing does not contain any forward-looking statements or guidance, as it reports a completed transaction where Great Lakes Dredge & Dock Corporation became a private entity.

Industry Context

StockSavvy.ai notes this transaction reflects a common outcome in corporate mergers and acquisitions where the target company's shares are converted to cash, leading to the company's delisting and removal from public trading. This is a standard procedural filing following such an event.

Stakeholder Impact

• Shareholders of Great Lakes Dredge & Dock Corporation received $17.00 in cash for each share they owned, converting their equity holdings into a fixed cash payment.

Key Dates

Keywords

Great Lakes Dredge & Dock, GLDD, Saltchuk Resources, Merger, Acquisition, Form 4, Insider Transaction, Director, Common Stock