Form 4: Great Lakes Dredge & Dock CEO Lasse Petterson Reports Changes in Beneficial Ownership
SEC Form 4 Filing
CEO Lasse Petterson reports changes in his beneficial ownership of Great Lakes Dredge & Dock CORP stock due to the vesting of performance-based restricted stock units and tax withholding.
Summary
- Lasse Petterson, CEO & President of Great Lakes Dredge & Dock CORP, reported changes in his beneficial ownership of the company's stock on March 17, 2025.
- These changes are due to the acquisition of shares through the satisfaction of performance conditions related to restricted stock units granted in March 2023 and March 2024.
- Additionally, some shares were disposed of to cover tax obligations.
- Following these transactions, Petterson directly owns 1,038,773.29 shares of Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. The vesting of performance-based RSUs is a positive sign, but the tax-related disposal is neutral.
Positives
- The vesting of performance-based restricted stock units suggests that performance conditions were met, which could be viewed positively.
Negatives
- The disposal of shares to cover tax obligations, while a normal occurrence, slightly reduces Petterson's overall holdings.
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 the CEO's holdings, which investors often monitor for insights into management's confidence in the company's prospects.
Stakeholder Impact
- Shareholders may view the vesting of performance-based restricted stock units as a positive indicator of company performance.
Key Dates
| Date | Description |
|---|---|
| 03/15/2023 | Date of grant for performance-based restricted stock units. |
| 03/15/2024 | Date of grant for performance-based restricted stock units. |
| 03/17/2025 | Date of transaction (acquisition and disposal of shares). |
| 03/18/2025 | Date of signature on the Form 4. |
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