Form 4: Great Lakes Dredge & Dock Corp. Executive Eleni Beyko Acquires 12,500 Shares
SEC Form 4 Filing
Eleni Beyko, SVP Offshore Wind at Great Lakes Dredge & Dock Corp., acquired 12,500 shares of common stock on July 14, 2022, as part of a performance-based restricted stock unit award.
Summary
- Eleni Beyko, a Senior Vice President at Great Lakes Dredge & Dock Corp., acquired 12,500 shares of the company's common stock on July 14, 2022.
- The acquisition was part of a performance-based restricted stock unit (RSU) award granted on April 24, 2022.
- The shares were awarded upon satisfaction of performance conditions and are subject to Ms. Beyko's continued employment in a senior capacity within the company's offshore wind venture.
- These shares vest on April 24, 2024.
- Following the transaction, Ms. Beyko beneficially owns 61,871 shares of Great Lakes Dredge & Dock Corp.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The acquisition of shares by a senior executive suggests confidence in the company's direction, particularly in the offshore wind sector. The performance-based nature of the award further aligns management's interests with shareholders.
Positives
- The acquisition of shares by a senior executive demonstrates confidence in the company's offshore wind venture.
- The performance-based nature of the RSU award aligns Ms. Beyko's interests with those of the shareholders.
Future Outlook
The document does not contain specific forward-looking statements, but the vesting of the shares is contingent on continued employment in a senior capacity in the offshore wind venture, suggesting a continued focus on this area.
Industry Context
The acquisition of shares by an executive involved in the offshore wind venture highlights the company's strategic focus on this growing sector. This is in line with the increasing global interest and investment in renewable energy sources, particularly offshore wind.
Stakeholder Impact
- The acquisition of shares by a senior executive could positively influence shareholder sentiment.
- The performance-based nature of the award incentivizes the executive to drive value for shareholders.
Key Dates
| Date | Description |
|---|---|
| 04/24/2022 | Date of performance-based restricted stock unit grant |
| 07/14/2022 | Date of stock acquisition |
| 04/24/2024 | Vesting date of the acquired shares |
| 03/01/2024 | Date of signature on the Form 4 filing |
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