Form 4: Great Lakes Dredge & Dock CEO Lasse Petterson Sells Shares Under 10b5-1 Trading Plan

Great Lakes Dredge & Dock Corp CEO Lasse Petterson sold a portion of his holdings in two transactions executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Lasse Petterson, CEO and President of Great Lakes Dredge & Dock Corp, executed two sales of common stock.
• On August 23, 2024, he sold 46,510 shares at a weighted average price of $9.0799, with individual transactions ranging from $9.00 to $9.19.
• On August 26, 2024, he sold 28,709 shares at a weighted average price of $9.2432, with individual transactions ranging from $9.09 to $9.39.
• These sales were conducted under a Rule 10b5-1 trading plan adopted on May 16, 2024.
• Following these transactions, Petterson directly owns 902,392.29 shares of Great Lakes Dredge & Dock Corp.

Sentiment

Score: 5

Explanation: The document itself is neutral, simply reporting transactions. The sentiment is neutral as the sales were pre-planned.

Industry Context

Insider trading activity is always closely watched by investors. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current inside information. However, large sales by executives can sometimes create short-term price pressure.

Stakeholder Impact

• Shareholders may react to the news of the CEO selling shares, although the pre-planned nature of the sales mitigates potential concerns.

Key Dates