Form 4: Great Lakes Dredge & Dock Corp: SVP, Market Development, William H. Hanson, Reports Changes in Beneficial Ownership
SEC Form 4 Filing
William H. Hanson, SVP of Market Development at Great Lakes Dredge & Dock Corp, reports acquisition and disposal of common stock and restricted stock units.
Summary
- On March 15, 2024, William H. Hanson, SVP of Market Development at Great Lakes Dredge & Dock Corp, reported changes in beneficial ownership of the company's common stock.
- Hanson acquired 4,281 shares of common stock related to the satisfaction of performance conditions from restricted stock units granted on March 15, 2023.
- He also acquired 7,864 restricted stock units that vest in three equal annual installments beginning on March 15, 2025.
- Hanson disposed of 1,347 shares at $8.62 and 1,330 shares at $8.62 for unspecified reasons.
- Following these transactions, Hanson beneficially owns 53,684 shares of common stock.
Sentiment
Score: 6
Explanation: Neutral sentiment. The filing primarily reflects routine transactions related to stock-based compensation. The disposal of some shares is slightly concerning but not significantly negative.
Positives
- Acquisition of 4,281 shares indicates achievement of performance targets.
- Grant of 7,864 restricted stock units suggests continued confidence in Hanson's performance and the company's future.
Negatives
- Disposal of 2,677 shares at $8.62 may raise questions, although the reason is not specified.
Future Outlook
The vesting schedule of the restricted stock units suggests a multi-year incentive plan for the reporting person.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. They are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholder sentiment, depending on how the market interprets the disposal of shares.
Key Dates
| Date | Description |
|---|---|
| 03/15/2023 | Date of grant for performance-based restricted stock units. |
| 03/15/2024 | Date of transactions: acquisition and disposal of common stock and acquisition of restricted stock units. |
| 03/15/2025 | First vesting date for the newly acquired restricted stock units. |
| 03/19/2024 | Date of signature for the Form 4 filing. |
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