Form 4: Great Lakes Dredge & Dock CEO Lasse Petterson Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Great Lakes Dredge & Dock Corp CEO Lasse Petterson sold a portion of his holdings in common stock under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On August 19, 2024, Lasse Petterson, CEO and President of Great Lakes Dredge & Dock Corp, sold 53,771 shares of common stock at a weighted average price of $9.06.
- The shares were sold in multiple transactions ranging from $9.00 to $9.12.
- On August 20, 2024, Petterson sold an additional 10,147 shares of common stock at a weighted average price of $9.10.
- These shares were sold in multiple transactions ranging from $9.00 to $9.19.
- The sales were executed under a Rule 10b5-1 trading plan adopted on May 16, 2024.
- Following these transactions, Petterson directly owns 977,611.29 shares of Great Lakes Dredge & Dock Corp.
Sentiment
Score: 5
Explanation: The document itself is neutral, simply reporting transactions. The use of a 10b5-1 plan suggests the sales were pre-planned and not necessarily indicative of a negative outlook, but any insider selling can create uncertainty.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information. Investors often monitor insider transactions for signals about a company's prospects, but pre-planned sales are generally viewed as less informative.
Stakeholder Impact
- Shareholders may react to the news of the CEO selling shares, although the pre-planned nature of the sales mitigates some concern.
Key Dates
| Date | Description |
|---|---|
| May 16, 2024 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| August 19, 2024 | Date of the first reported transaction: sale of 53,771 shares. |
| August 20, 2024 | Date of the second reported transaction: sale of 10,147 shares. |
| August 21, 2024 | Date of the signature on the Form 4 filing. |
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