Granite Construction Reports Board Changes and Executive Compensation Updates
Ticker: GVA · Form: 8-K · Filed: Sep 16, 2024 · CIK: 861459
| Field | Detail |
|---|---|
| Company | Granite Construction INC (GVA) |
| Form Type | 8-K |
| Filed Date | Sep 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $500,000, $264,000, $350,000, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: GVA
TL;DR
Granite Construction's board is changing, with new directors coming on board and executive pay plans being updated.
AI Summary
Granite Construction Inc. announced on September 16, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of Director John R. Dick and the election of new directors, along with updates to executive compensation plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance, impacting investor confidence.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant immediate risk.
Key Players & Entities
- Granite Construction Inc. (company) — Registrant
- John R. Dick (person) — Departing Director
- Delaware (jurisdiction) — State of Incorporation
- September 16, 2024 (date) — Report Date
FAQ
Who has departed from Granite Construction Inc.'s board of directors?
John R. Dick has departed from the board of directors of Granite Construction Inc.
When was the report filed?
The report was filed on September 16, 2024.
What is Granite Construction Inc.'s state of incorporation?
Granite Construction Inc. is incorporated in Delaware.
What is the principal executive office address for Granite Construction Inc.?
The principal executive office is located at 585 West Beach Street, Watsonville, California 95076.
What items are being reported in this 8-K filing?
This filing reports on the departure of directors, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
Filing Stats: 857 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-09-16 16:54:13
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value GVA New York Stock Exchange
- $500,000 — mber 16, 2024, an annual base salary of $500,000; (2) an increase in her target annual i
- $264,000 — he Company's Annual Incentive Plan from $264,000 to $350,000, with the increased annual
- $350,000 — Annual Incentive Plan from $264,000 to $350,000, with the increased annual incentive op
- $100,000 — dditionally, Ms. Woolsey will receive a $100,000 time-based restricted stock unit grant
- $1,000 — ill also receive a vehicle allowance of $1,000 per month. Separation and Transition A
Filing Documents
- gva-20240916.htm (8-K) — 32KB
- separationandtransitionagr.htm (EX-10.1) — 78KB
- 0000861459-24-000037.txt ( ) — 247KB
- gva-20240916.xsd (EX-101.SCH) — 2KB
- gva-20240916_lab.xml (EX-101.LAB) — 21KB
- gva-20240916_pre.xml (EX-101.PRE) — 12KB
- gva-20240916_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Separation and Transition Agreement dated September 16, 2024 by and between the Company and Ms. Curtis 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. GRANITE CONSTRUCTION INCORPORATED By: /s/ M. Craig Hall M. Craig Hall Senior Vice President, General Counsel and Secretary Date: September 16, 2024