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Great Lakes Dredge & Dock Corporation filed an amended annual report that leaves 2025 results unchanged and primarily adds the auditor’s conformed signature. For 2025, the company generated $888.3 million in contract revenues and $73.5 million in net income, with basic earnings per share of $1.10, up from $0.85 in 2024. Operating cash flow rose sharply to $246.7 million, supporting heavy capital spending of $147.2 million and repayment of second-lien debt. Year-end total assets were $1.29 billion, with long-term debt of $378.2 million and equity of $517.1 million.
The notes highlight a Merger Agreement with Saltchuk Resources, under which a subsidiary of Saltchuk plans to launch a tender offer to acquire all outstanding shares at $17.00 per share, followed by a merger that would make Great Lakes a wholly owned subsidiary and lead to Nasdaq delisting. Closing is expected in the second quarter of 2026, subject to customary conditions, including a majority tender and required antitrust clearance. The agreement includes a termination fee of approximately $37 million payable to Saltchuk under specified circumstances.
Great Lakes Dredge & Dock Corporation recommends that its stockholders accept the tender offer by Huron MergeCo., Inc. to purchase all issued and outstanding common shares for $17.00 per share.
The Schedule 14D-9 describes the Merger Agreement dated February 10, 2026, the related Offer to Purchase commencing on March 4, 2026 and an Initial Expiration Date of March 31, 2026. GLDD reports 67,433,542 shares of Common Stock issued and outstanding as of March 30, 2026. The Merger is structured to be effected under Section 251(h) of the Delaware General Corporation Law and will convert each outstanding share into the Merger Consideration at the Effective Time.
Great Lakes Dredge & Dock Corporation: BlackRock, Inc. reports beneficial ownership of 6,701,811 shares of common stock, representing 10.0% of the class as of 02/28/2026.
The filing states BlackRock's Reporting Business Units hold these shares, with 6,585,493 shares of sole voting power and 6,701,811 shares of sole dispositive power. The schedule is an amendment (No. 16) to the previously filed ownership disclosure.
Huron MergeCo., Inc., a Saltchuk Resources subsidiary, is offering to purchase all issued and outstanding shares of Great Lakes Dredge & Dock Corporation for $17.00 per share in cash, pursuant to the Agreement and Plan of Merger dated February 10, 2026.
As of the close of business on March 30, 2026, there were 67,433,542 Shares issued and outstanding. The Offer is made under the terms of the Merger Agreement and is subject to the conditions, tax withholdings and procedures described in the Offer to Purchase and Letter of Transmittal.
Great Lakes Dredge & Dock Corp executive receives stock award. On February 23, 2026, SVP, CLO, CCO & Corporate Secretary Vivienne Schiffer acquired 19,149 shares of Great Lakes Dredge & Dock common stock through a grant or award at a stated price of $0.00 per share.
These shares are in the form of restricted stock units that vest in three equal annual installments beginning on February 23, 2027, aligning the award with multi-year performance and retention. After this grant, Schiffer directly holds a total of 101,330 shares of the company’s common stock.
Great Lakes Dredge & Dock Corp reported that CEO and President Lasse Petterson acquired 132,825 shares of common stock through a grant of restricted stock units at a stated price of $0.0000 per share on February 23, 2026. These restricted stock units vest in three equal annual installments beginning on February 23, 2027, meaning the shares are earned over time rather than all at once. Following this grant, Petterson's directly held common stock position increased to 1,292,202.29 shares.
Kornblau Scott Lee reported acquisition or exercise transactions in this Form 4 filing.
Great Lakes Dredge & Dock’s SVP & CFO, Scott Lee Kornblau, reported an award of 26,603 shares of common stock in the form of restricted stock units. These RSUs vest in three equal annual installments beginning on February 23, 2027. Following this grant, his direct holdings total 138,733.24 shares.
Great Lakes Dredge & Dock Corp reported that senior vice president Christopher Gunsten acquired 13,988 shares of common stock on February 23, 2026 through a restricted stock unit award. These units vest in three equal annual installments beginning on February 23, 2027, bringing his directly held shares to 99,940.
JOHANSON DAVID reported acquisition or exercise transactions in this Form 4 filing.
Great Lakes Dredge & Dock senior vice president David Johanson received an equity grant of 13,988 shares of common stock in the form of restricted stock units. These units will vest in three equal annual installments beginning on February 23, 2027, increasing his direct holdings to 105,951.2594 shares after the award.
Great Lakes Dredge & Dock CORP senior vice president granted stock units
SVP of Market Development William H. Hanson acquired 8.743 shares of Great Lakes Dredge & Dock common stock through a grant of restricted stock units at a stated price of $0.00 per share. These units vest in three equal annual installments beginning on February 23, 2027, bringing his directly held total to 68,985.743 shares.