[Form 4] Great Lakes Dredge & Dock CORP Insider Trading Activity

Rhea-AI Filing Summary

Lawrence R. Dickerson, a director of Great Lakes Dredge & Dock Corp. (GLDD), reported changes in his beneficial ownership on Form 4. The filing shows a transaction dated 09/30/2025 in which 86,217 shares of common stock were disposed of, leaving Mr. Dickerson with 70,218 shares held directly following the reported transactions. The Form 4 is signed by an attorney-in-fact on behalf of Mr. Dickerson.

The filing also discloses that on 09/30/2025 Mr. Dickerson was granted 4,165 Deferred Stock Units (DSUs) under the company’s Director Deferral Plan. The DSUs are deferred compensation that will be paid in common stock on a 1-for-1 basis when his board service ends and are recorded at a price of $0 in the form. The filing contains no earnings or operational information.

Positive

• Director received Deferred Stock Units (4,165 DSUs) under the Director Deferral Plan, aligning compensation with long-term shareholder outcomes
• DSUs payable 1-for-1 in common stock upon end of board service, providing clear settlement terms

Negative

• Director disposed of 86,217 common shares, reducing direct beneficial ownership to 70,218 shares

Insights

Financial Analyst

TL;DR Director sold a material block of shares and received DSUs as deferred compensation; ownership remains meaningful.

The disposal of 86,217 common shares on 09/30/2025 is a clear, reportable insider transaction that reduces the director's direct share count to 70,218. Concurrently, the grant of 4,165 DSUs converts part of director compensation into deferred equity payable 1-for-1 in stock upon termination of board service. From a capital-structure perspective, these are routine governance and compensation actions and do not disclose company performance metrics or new material contracts.

Corporate Governance Expert

TL;DR Typical director compensation and an open-market disposition; no governance red flags disclosed.

The Form 4 shows a standard director deferral election where equity compensation is issued as DSUs under the Director Deferral Plan. The DSUs' 1-for-1 settlement in common stock upon end of service is explicitly stated. The sale of 86,217 shares is reported but the filing does not state the transaction code rationale beyond the entries; there is no indication of unusual governance events, changes in board composition, or related-party transactions in this document.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DICKERSON LAWRENCE R

(Last) (First) (Middle)

C/O GREAT LAKES DREDGE & DOCK CORP.

9811 KATY FREEWAY, SUITE 1200

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Great Lakes Dredge & Dock CORP [ GLDD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								86,217	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units	(1)	09/30/2025		A		4,165		(1)	(1)	Common Stock	4,165	$0	70,218	D

Explanation of Responses:

1. Deferred Stock Units ("DSUs") granted September 30, 2025 and deferred pursuant to the Company's Director Deferral Plan. The DSUs will be payable in common stock on a 1-for-1 basis on the date upon which Mr. Dickerson's board service ends.

	/s/Vivienne R. Schiffer, by Power of Attorney	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did GLDD director Lawrence R. Dickerson report on Form 4 (GLDD)?

The Form 4 reports a disposition of 86,217 common shares on 09/30/2025 and the grant of 4,165 Deferred Stock Units (DSUs) on the same date.

How many shares does Lawrence R. Dickerson own after the reported transactions?

Following the reported transactions, Mr. Dickerson beneficially owns 70,218 shares directly according to the Form 4.

What are the terms of the DSUs granted to the director?

The DSUs (4,165) were granted under the Director Deferral Plan and will be payable in common stock on a 1-for-1 basis when his board service ends.

When were the reported transactions executed and when was the Form 4 signed?

The transactions are dated 09/30/2025 and the Form 4 is signed by power of attorney on 10/02/2025.

Was a price disclosed for the DSUs or the share disposition?

The Form 4 records a price of $0 for the DSUs; no dollar price for the disposed common shares is provided in the filing text.