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Great Lakes Dredge & Dock Corporation filings document the company's transition from a Nasdaq-listed public company to a deregistered issuer after its completed acquisition by Saltchuk Resources. The record includes Form 25 notification for removal of its common stock from Nasdaq listing and Form 15 certification to terminate registration under Section 12(g) and suspend Exchange Act reporting duties.
Its 8-K material-event reports describe the merger agreement, tender-offer completion, common-stock treatment, related governance and officer matters, and other capital-structure disclosures, including securities registered before delisting.
Great Lakes Dredge & Dock Corporation’s Form 4 shows SVP-Proj Svcs & Fleet Engineer Christopher Gunsten’s equity changing hands in connection with the closing of the Saltchuk Resources merger. Performance-based restricted stock units fully vested at the merger’s effective time, resulting in an acquisition of 71,860 shares of common stock at no cost.
Immediately afterward, a total of 182,496 common shares were disposed of pursuant to the tender offer, with each share converted into the right to receive $17.00 in cash. Following these transactions, Gunsten no longer directly holds Great Lakes common stock, while certain RSUs were cashed out and others converted into a cash-based award that retains the prior time-based vesting conditions.
Great Lakes Dredge & Dock SVP Eleni Beyko reported merger-related stock changes. On April 1, 2026, she acquired 25,505 shares of common stock as a grant or award, then all 151,312 directly held shares were disposed of pursuant to a tender offer in connection with the company’s merger.
Under the Merger Agreement with Saltchuk Resources’ Huron MergeCo, each share of Great Lakes Dredge & Dock common stock was cancelled at the effective time and converted into the right to receive $17.00 in cash, without interest and subject to tax withholdings. Footnotes state certain performance-based restricted stock units fully vested under the Merger Agreement, while 61,359 RSUs were cashed out at the merger price and 15,769 RSUs were replaced by an equivalent-value cash-based award with the same time-based vesting terms.
Great Lakes Dredge & Dock Corporation VP & CAO Ryan Bayer reported equity transactions tied to the completion of the Saltchuk merger. On April 1, 2026, 5,607 performance-based restricted stock units vested and were delivered as Common Stock under the Merger Agreement.
At the same Effective Time, all 37,380 outstanding shares of Common Stock held directly by Bayer were disposed of pursuant to the tender offer, with each share converted into the right to receive $17.00 in cash, before taxes. Following these actions, Bayer no longer holds Common Stock, though certain awards converted into cash-based arrangements.
Great Lakes Dredge & Dock director Ronald Steger reported routine transactions tied to the closing of a cash merger. In connection with the merger of Great Lakes Dredge & Dock Corporation into a wholly owned subsidiary of Saltchuk Resources, each share of common stock was converted into the right to receive $17.00 in cash. Steger’s 20,404 shares of common stock were disposed of pursuant to a tender offer, and 45,068 Deferred Stock Units (DSUs) were canceled and converted into a cash payment equal to the number of underlying shares multiplied by the $17.00 merger consideration. The filing also notes a grant of 1,625 DSUs on March 31, 2026 under the company’s Director Deferral Plan, which were included in the DSUs canceled at the merger effective time. Following these transactions, the Form 4 shows no remaining common stock or DSU holdings for Steger.
Great Lakes Dredge & Dock director Earl L. Shipp disposed of 42,619 shares of common stock pursuant to a tender offer tied to the company’s merger. According to the merger agreement, on April 1, 2026 each outstanding share of Great Lakes Dredge & Dock common stock was cancelled and converted into the right to receive $17.00 in cash, making the company a wholly owned subsidiary of Saltchuk Resources. Following this transaction, Shipp reported owning zero shares directly.
Great Lakes Dredge & Dock Corporation director Kathleen M. Shanahan reported transactions tied to the company’s cash merger with Saltchuk Resources. She disposed of 76,375 shares of Common Stock in a tender offer at $17.00 per share, leaving no directly held common shares.
On March 31, 2026 she received an award of 1,485 Deferred Stock Units (DSUs), bringing her total DSUs to 10,336. At the merger’s effective time on April 1, 2026, all 10,336 DSUs were cancelled and converted into cash equal to the number of underlying shares multiplied by the $17.00 merger consideration, leaving no remaining DSUs.
Great Lakes Dredge & Dock Corporation director Lawrence R. Dickerson reported transactions tied to the company’s cash merger with Saltchuk Resources. On April 1, 2026, all 86,217 shares of common stock he held were canceled in exchange for the right to receive $17.00 per share in cash.
At the same merger effective time, 76,962 deferred stock units (DSUs) credited to him were canceled and converted into a cash payment based on the same $17.00 per-share merger consideration. One day earlier, on March 31, 2026, he had been granted 2,938 DSUs under the company’s Director Deferral Plan. Following these transactions, he reported no remaining common stock or DSUs.
Great Lakes Dredge & Dock Corporation director Dana A. Armstrong disposed of 8,436 shares of common stock in connection with the company’s merger with Saltchuk Resources. The shares were tendered pursuant to a merger agreement under which each outstanding GLDD share was cancelled and converted into the right to receive $17.00 in cash, without interest and subject to tax withholding. Following this tender-offer disposition, Armstrong reported holding no direct GLDD shares.
Great Lakes Dredge & Dock Corporation filed a Post-Effective Amendment to its Form S-3 to terminate and deregister any unsold securities previously registered under Registration No. 333-153207, which had covered 18,695,334 shares of common stock. The amendment follows the closing of a merger under an Agreement and Plan of Merger with Saltchuk Resources, Inc., completed on April 1, 2026, after which the company became a wholly owned subsidiary of the acquiring parent. The filing states the company is removing from registration all unsold securities covered by the registration statement in accordance with its prior undertaking.
Great Lakes Dredge & Dock Corporation has been acquired by Saltchuk Resources in a cash deal. Saltchuk’s subsidiary completed a tender offer for all outstanding shares at $17.00 per share, with 53,738,558 shares tendered, representing about 79.88% of the company. This allowed a follow-on merger under Delaware law without a shareholder vote, making Great Lakes a wholly owned Saltchuk subsidiary.
Following the merger, Great Lakes requested suspension of trading on Nasdaq, delisting of its common stock and plans to terminate its SEC registration and reporting obligations. Saltchuk also launched a tender offer for Great Lakes’ 5.25% Senior Notes due 2029; by the early deadline, holders had tendered $258,134,000 of the original $325,000,000. A supplemental indenture removes most restrictive covenants after settlement. The company fully repaid and terminated its revolving credit facility, and its charter, bylaws and board composition were replaced with those of the merger subsidiary.