Form 4: Great Lakes Dredge & Dock Director Receives Deferred Stock Units

Kathleen M. Shanahan, a director at Great Lakes Dredge & Dock CORP, reported the acquisition of deferred stock units (DSUs) on March 28, 2024.

Summary

• Kathleen M. Shanahan, a director at Great Lakes Dredge & Dock CORP [GLDD], filed a Form 4 on April 1, 2024, reporting changes in beneficial ownership.
• On March 28, 2024, Shanahan acquired 2,286 Deferred Stock Units (DSUs) under the company's Director Deferral Plan.
• These DSUs will be payable in common stock on a 1-for-1 basis in three equal annual installments starting January 15, 2025.
• Following the reported transaction, Shanahan directly owns 2,286 derivative securities and 90,913 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (granting of deferred stock units) and doesn't contain any alarming information. It suggests continued alignment between the director and the company's long-term interests.

Positives

• The acquisition of DSUs reflects continued alignment of the director's interests with the company's long-term performance.

Future Outlook

The DSUs will be payable in common stock in three equal annual installments beginning January 15, 2025.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The granting of DSUs aligns the director's interests with those of the shareholders.

Next Steps

• The DSUs will vest and be payable in common stock in three equal annual installments beginning January 15, 2025.

Key Dates