Great Lakes Dredge & Dock Corp. Elects New Directors, Extends CEO Contract

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

From the Filing

0000950170-24-059772.txt : 20240514 0000950170-24-059772.hdr.sgml : 20240514 20240514170740 ACCESSION NUMBER: 0000950170-24-059772 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20240513 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240514 DATE AS OF CHANGE: 20240514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Great Lakes Dredge & Dock CORP CENTRAL INDEX KEY: 0001372020 STANDARD INDUSTRIAL CLASSIFICATION: HEAVY CONSTRUCTION OTHER THAN BUILDING CONST - CONTRACTORS [1600] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 205336063 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33225 FILM NUMBER: 24945599 BUSINESS ADDRESS: STREET 1: 9811 KATY FREEWAY STREET 2: SUITE 1200 CITY: HOUSTON STATE: TX ZIP: 77024 BUSINESS PHONE: (346) 359-1010 MAIL ADDRESS: STREET 1: 9811 KATY FREEWAY STREET 2: SUITE 1200 CITY: HOUSTON STATE: TX ZIP: 77024 FORMER COMPANY: FORMER CONFORMED NAME: Great Lakes Dredge & Dock Holdings Corp. DATE OF NAME CHANGE: 20060808 8-K 1 gldd-20240513.htm 8-K 8-K false 0001372020 0001372020 2024-05-13 2024-05-13       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 rel