Form 4: GLDD Director Shanahan Increases Equity Stake

Great Lakes Dredge & Dock Director Kathleen M. Shanahan reported the acquisition of 2,106 Deferred Stock Units, increasing her total beneficial ownership of common stock and DSUs.

Summary

• Kathleen M. Shanahan, a Director of Great Lakes Dredge & Dock Corp (GLDD), reported changes in her beneficial ownership.
• She acquired 2,106 Deferred Stock Units (DSUs) on September 30, 2025.
• These DSUs were granted pursuant to the Company's Director Deferral Plan.
• Each DSU is convertible into one share of common stock on a 1-for-1 basis.
• The DSUs will be paid out in three equal annual installments, commencing January 15, 2026.
• Following this transaction, Ms. Shanahan directly owns 70,524 shares of Common Stock and 12,777 Deferred Stock Units.

Sentiment

Score: 6

Explanation: The filing indicates a routine compensation event for a director, which is generally neutral but can be seen as slightly positive due to increased alignment of director interests with shareholders through equity ownership.

Positives

• Director Kathleen M. Shanahan's acquisition of Deferred Stock Units aligns her interests with shareholders, as the value of these units is tied to the company's stock performance.
• The grant is part of a structured Director Deferral Plan, indicating a standard compensation practice.

Negatives

• No specific negative aspects are directly discernible from this routine insider transaction report.

Risks

• No specific company-related risks are disclosed in this Form 4 filing.

Future Outlook

The Deferred Stock Units granted on September 30, 2025, will be payable in common stock on a one-for-one basis in three equal annual installments, with the first installment beginning on January 15, 2026.

Industry Context

This Form 4 filing reports a routine insider transaction related to director compensation and does not provide information relevant to broader industry trends or competitor analysis within the dredging and marine construction sector.

Comparison to Industry Standards

• Not applicable. This filing pertains to an individual director's compensation and does not contain information suitable for comparison to global benchmarks or specific comparable companies/projects.

Stakeholder Impact

• Shareholders: May view the increased equity ownership by a director as a positive sign of alignment with shareholder interests.
• Employees: No direct impact mentioned.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Next Steps

• Deferred Stock Units will begin vesting and be payable in common stock in three equal annual installments starting January 15, 2026.

Key Dates

Keywords

GLDD, Great Lakes Dredge & Dock, Kathleen Shanahan, Director, Insider Transaction, Form 4, Deferred Stock Units, Equity Compensation, Beneficial Ownership