Form 4: Great Lakes Dredge & Dock Director Kathleen M. Shanahan Reports Beneficial Ownership Changes

Kathleen M. Shanahan, a director at Great Lakes Dredge & Dock CORP, reports changes in beneficial ownership, including the acquisition of deferred stock units.

Summary

• Kathleen M. Shanahan, a director of Great Lakes Dredge & Dock CORP [GLDD], filed a Form 4 on July 1, 2024, reporting changes in her beneficial ownership of the company's securities.
• The report indicates that on June 28, 2024, Shanahan acquired 2,361 Deferred Stock Units (DSUs) under the company's Director Deferral Plan.
• These DSUs are payable in common stock on a 1-for-1 basis in three equal annual installments starting January 15, 2025.
• Following the reported transaction, Shanahan beneficially owns 90,913 shares of common stock directly and 4,647 DSUs.
• The price of the derivative security is $0.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a standard regulatory filing. The acquisition of DSUs could be seen as a slightly positive sign, indicating confidence in the company's future.

Positives

• The acquisition of DSUs reflects continued alignment of the director's interests with those of the shareholders.

Future Outlook

The DSUs will be payable in common stock on a 1-for-1 basis in three equal annual installments beginning January 15, 2025.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates changes in the holdings of a director at Great Lakes Dredge & Dock, a company in the dredging industry.

Stakeholder Impact

• The change in beneficial ownership may be of interest to shareholders, as it provides insight into the actions of a company director.

Key Dates