Form 4: Great Lakes Dredge & Dock Director Ronald Steger Receives Deferred Stock Unit Grant
Insider Transaction Report
Great Lakes Dredge & Dock Corp. Director Ronald Steger was granted 2,266 Deferred Stock Units as part of his compensation, aligning his interests with shareholders.
Summary
- Ronald Steger, a Director of Great Lakes Dredge & Dock Corp. (GLDD), was granted 2,266 Deferred Stock Units (DSUs) on June 30, 2025.
- These DSUs were granted pursuant to the Company's Director Deferral Plan and will be payable in common stock on a 1-for-1 basis upon the conclusion of Mr. Steger's board service.
- Following this transaction, Mr. Steger directly beneficially owns a total of 39,033 Deferred Stock Units and 20,404 shares of Common Stock.
Sentiment
Score: 6
Explanation: The grant of deferred stock units to a director is a routine compensation event that aligns the director's interests with those of shareholders, indicating continued commitment. This is generally viewed as a neutral to slightly positive development.
Positives
- The grant of Deferred Stock Units aligns the director's financial interests with those of the company's shareholders, promoting long-term value creation.
Future Outlook
The Deferred Stock Units granted to Director Ronald Steger will be payable in common stock on a 1-for-1 basis on the date upon which his board service ends.
Industry Context
NA
Related Party Transactions
- The grant of Deferred Stock Units to Director Ronald Steger constitutes a related party transaction, as it is compensation provided by the company to a member of its board.
Stakeholder Impact
- Shareholders: The DSU grant aligns the director's long-term interests with shareholder value, potentially leading to more focused decision-making aimed at increasing stock price.
Next Steps
- The Deferred Stock Units will be converted into common stock and paid out to Mr. Steger upon the termination of his board service.
Key Dates
| Date | Description |
|---|---|
| 06/30/2025 | Grant date for 2,266 Deferred Stock Units (DSUs) to Director Ronald Steger. |
| 07/01/2025 | Date the Form 4 was signed by Vivienne R. Schiffer, by Power of Attorney. |
Keywords
Great Lakes Dredge & Dock, GLDD, SEC Form 4, Deferred Stock Units, DSU, Director Compensation, Insider Transaction, Stock Grant
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