Great Lakes Dredge & Dock Corp. Elects New Directors, Extends CEO Contract
Ticker: GLDD · Form: 8-K · Filed: May 14, 2024 · CIK: 1372020
| Field | Detail |
|---|---|
| Company | Great Lakes Dredge & Dock CORP (GLDD) |
| Form Type | 8-K |
| Filed Date | May 14, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, executive-compensation
TL;DR
GLDD board gets new faces, CEO Petterson's contract extended.
AI Summary
Great Lakes Dredge & Dock Corp. announced on May 13, 2024, changes in its executive and director roles. The company elected two new directors, Michael A. N. W. Smith and David M. Ryan, to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its President and CEO, Lasse A. Petterson, extending his tenure and outlining his compensation.
Why It Matters
These changes indicate a focus on board refreshment and continued leadership stability, which can impact strategic direction and investor confidence.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and executive changes, with no immediate financial distress or significant negative events reported.
Key Players & Entities
- Great Lakes Dredge & Dock Corp. (company) — Registrant
- Michael A. N. W. Smith (person) — Newly Elected Director
- David M. Ryan (person) — Newly Elected Director
- Lasse A. Petterson (person) — President and CEO
- May 13, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors to the Great Lakes Dredge & Dock Corp. Board?
Michael A. N. W. Smith and David M. Ryan were elected as new directors to the Board, effective May 13, 2024.
What is the significance of the new employment agreement with the CEO?
The new employment agreement with President and CEO Lasse A. Petterson extends his tenure and details his compensation, indicating continued leadership.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on May 13, 2024.
What is the company's principal executive office address?
The principal executive offices are located at 9811 Katy Freeway, Suite 1200, Houston, TX 77024.
What is the Commission File Number for Great Lakes Dredge & Dock Corp.?
The Commission File Number for Great Lakes Dredge & Dock Corp. is 001-33225.
Filing Stats: 445 words · 2 min read · ~1 pages · Grade level 11.4 · Accepted 2024-05-14 17:07:40
Key Financial Figures
- $0.0001 — ch registered Common Stock (Par Value $0.0001) GLDD Nasdaq Stock Market, LLC In
Filing Documents
- gldd-20240513.htm (8-K) — 36KB
- img153255055_0.jpg (GRAPHIC) — 20KB
- 0000950170-24-059772.txt ( ) — 257KB
- gldd-20240513.xsd (EX-101.SCH) — 59KB
- gldd-20240513_htm.xml (XML) — 4KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 13, 2024 Great Lakes Dredge & Dock Corporation (Exact name of registrant as specified in its charter) Delaware 001-33225 (Commission File Number) 20-5336063 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 9811 Katy Freeway, Suite 1200 , Houston , TX 77024 (Address of principal executive offices) (Zip Code) ( 346 ) 359-1010 (Registrant's telephone number, including area code) (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock (Par Value $0.0001) GLDD Nasdaq Stock Market, LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 13, 2024, Mr. Ryan J. Levenson, a member of the Board of Directors (the "Board") of Great Lakes Dredge & Dock Corporation (the "Company"), notified the Company of his resignation from the Board, effective May 13, 2024. Mr. Levenson's resignation was not the result of any disagreement with the Company or any matter relating to the Company's operations, policies or practices. S IGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GREAT LAKES DREDGE & DOCK CORPORATION By: /s/Vivienne R. Schiffer Vivienne R. Schiffer Senior Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary Date: May 14, 2024