Form 4: Great Lakes Dredge & Dock CEO Lasse Petterson Reports Changes in Beneficial Ownership
SEC Form 4 Filing
CEO Lasse Petterson reports acquisition and disposal of Great Lakes Dredge & Dock CORP [GLDD] common stock and restricted stock units.
Summary
- On March 15, 2024, Lasse Petterson, CEO and President of Great Lakes Dredge & Dock CORP, acquired 51,569 shares of common stock due to the satisfaction of performance conditions related to restricted stock units granted on March 15, 2023.
- Also on March 15, 2024, Petterson disposed of 26,997 shares and 26,651 shares of common stock at a price of $8.62 per share.
- Petterson also acquired 118,388 restricted stock units that vest in three equal annual installments beginning on March 15, 2025.
- Following these transactions, Petterson beneficially owns 1,261,859.29 shares of common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document primarily reports transactions. The acquisition of shares due to performance conditions is mildly positive, while the disposal is mildly negative, balancing out overall.
Positives
- The acquisition of shares due to the satisfaction of performance conditions suggests the achievement of certain company goals.
Negatives
- The disposal of 53,648 shares could be interpreted negatively, although the reason for disposal is not specified.
Future Outlook
The restricted stock units vest in three equal annual installments beginning on March 15, 2025.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in Lasse Petterson's holdings of Great Lakes Dredge & Dock stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholder sentiment, depending on how the market interprets the insider's actions.
Key Dates
| Date | Description |
|---|---|
| 03/15/2023 | Date of grant for performance-based restricted stock units. |
| 03/15/2024 | Date of transactions: acquisition and disposal of common stock, and grant of restricted stock units. |
| 03/15/2025 | First vesting date for the newly granted restricted stock units. |
| 03/19/2024 | Date of signature for the Form 4 filing. |
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