Form 4: GLDD SVP Sells Shares Under 10b5-1 Plan

Great Lakes Dredge & Dock SVP David Johanson sold 2,100 shares of common stock for $13.9564 per share under a pre-arranged trading plan.

Summary

• David Johanson, SVP-Project Acquisition & Ops at Great Lakes Dredge & Dock Corp (GLDD), reported the sale of 2,100 shares of common stock.
• The transaction occurred on December 10, 2025, at a weighted average price of $13.9564 per share.
• The shares were sold in multiple transactions ranging from $13.95 to $13.975, inclusive.
• This sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Johanson on August 18, 2025.
• Following this transaction, Mr. Johanson directly beneficially owns 91,963.2594 shares of GLDD common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the sale was conducted under a pre-arranged 10b5-1 trading plan, indicating it was not based on new material non-public information and is part of routine personal financial management.

Negatives

• An insider sale, even under a 10b5-1 plan, can sometimes be perceived as a lack of confidence by some investors, though this is mitigated by the pre-planned nature.

Risks

• The sale of shares by an executive, even if pre-planned, could be misinterpreted by the market as a signal of future performance concerns, potentially leading to short-term stock price volatility.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This insider transaction is specific to an individual executive's personal financial planning and does not inherently reflect broader industry trends or competitive dynamics within the dredging and marine construction sector.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in an executive's direct holdings, which is generally not expected to have a significant impact on shareholder confidence, especially given the 10b5-1 plan.

Key Dates

Recommendation

The sale by SVP David Johanson was executed under a pre-arranged 10b5-1 trading plan, indicating it was not based on new material non-public information. The transaction size is relatively small compared to his remaining holdings, and therefore, does not significantly alter the investment thesis for GLDD. Investors should continue to evaluate GLDD based on its operational performance, financial results, and strategic initiatives rather than this routine insider transaction.

Keywords

Great Lakes Dredge & Dock, GLDD, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, David Johanson, SVP