Form 4: Great Lakes Dredge & Dock CFO Kornblau Reports Stock Award and Tax Withholding

Scott Lee Kornblau, CFO of Great Lakes Dredge & Dock, reports the acquisition of 50,000 shares of common stock due to performance-based restricted stock units and the disposal of 19,675 shares for tax withholding.

Summary

• On April 25, 2024, Scott Lee Kornblau, the SVP, CFO & Treasurer of Great Lakes Dredge & Dock CORP, reported a transaction involving the company's common stock.
• Kornblau acquired 50,000 shares of common stock at $0 per share due to the satisfaction of performance conditions related to restricted stock units granted on March 17, 2023.
• He also disposed of 19,675 shares at a price of $7.19 per share to cover tax obligations.
• Following these transactions, Kornblau beneficially owns 118,433.24 shares of Great Lakes Dredge & Dock CORP common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.

Positives

• The acquisition of 50,000 shares indicates that performance conditions for the restricted stock units were met, which could be viewed positively.

Negatives

• The disposal of 19,675 shares to cover tax obligations could be seen as a minor negative, although it's a common practice.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, primarily providing transparency regarding executive compensation.

Key Dates