[Form 4] Granite Construction Inc. Insider Trading Activity

Rhea-AI Filing Summary

Molly C. Campbell, a director of Granite Construction Inc. (GVA), received an award of 1,234 restricted stock units on 08/12/2025 under the companys 2024 Equity Incentive Plan. The units carry a $0 grant price and vest on 05/20/2026. After the grant and inclusion of dividend equivalents credited since the reporting person's last Form 4 (eight DEUs credited 04/15/2025 and four DEUs credited 07/15/2025), the reporting persons total beneficial ownership is reported as 12,235 shares. The Form 4 discloses the grant type (restricted stock units) and the dividend reinvestment adjustments; a power of attorney is referenced in the exhibit.

Positive

• Director equity alignment: 1,234 restricted stock units granted to a director, aligning management with shareholders
• Clear vesting schedule: RSUs vest on 05/20/2026, providing visibility into timing of potential share delivery
• Dividend equivalents disclosed: DEUs (8 on 04/15/2025 and 4 on 07/15/2025) are included in the adjusted beneficial ownership

Negative

• None.

Insights

Securities Analyst

TL;DR: Director received 1,234 RSUs that vest in 2026; ownership increased to 12,235 shares after dividend equivalents.

The grant is a standard equity compensation event: 1,234 restricted stock units issued under the 2024 Equity Incentive Plan with a $0 grant price and a specified vesting date of 05/20/2026. The report also notes dividend equivalents credited since the last filing, which increased the reported beneficial ownership to 12,235 shares. This filing provides transparency on insider alignment with shareholder interests but does not by itself indicate a material change in control or financial condition.

Corporate Governance Expert

TL;DR: Routine director equity grant disclosed; vesting schedule and DEUs are clearly documented.

The Form 4 documents a routine restricted stock unit grant to a board director under the company's equity plan, including the vesting date and the treatment of dividend equivalents. The inclusion of DEU totals clarifies how beneficial ownership was adjusted since the last report. The form references a power of attorney for signature execution, consistent with standard filing practice.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CAMPBELL MOLLY

(Last) (First) (Middle)

585 WEST BEACH STREET

(Street)

WATSONVILLE CA 95076

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GRANITE CONSTRUCTION INC [ GVA ]

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)
08/12/2025

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	08/12/2025		A		1,234(1)	A	$0	12,235(2)	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

Explanation of Responses:

1. Restricted stock units granted pursuant to the Granite Construction Incorporated 2024 Equity Incentive Plan. Restricted stock units vest on May 20, 2026.

2. Total adjusted to include dividend equivalents (DEUs: 8 - 4/15/25; 4 - 7/15/25) credited to the Reporting Person under the dividend reinvestment feature of the Granite Construction Incorporated equity plans since the Reporting Person's last report.

Remarks:

See Exhibit for POA

	/s/ Troy Erickson, attorney-in-fact for Molly C. Campbell	08/14/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Molly C. Campbell report on Form 4 for GVA?

The Form 4 reports a grant of 1,234 restricted stock units on 08/12/2025 under Granite Constructions 2024 Equity Incentive Plan.

When do the restricted stock units granted to Molly C. Campbell vest?

The restricted stock units vest on 05/20/2026 as stated in the filing.

How many shares does Molly C. Campbell beneficially own after the reported transaction?

The filing reports total beneficial ownership of 12,235 shares after including dividend equivalents credited since the last report.

Were dividend equivalents accounted for in the reported ownership?

Yes. The report states dividend equivalents were credited: 8 DEUs on 04/15/2025 and 4 DEUs on 07/15/2025, which adjusted the total ownership.

What type of security was granted and what was the grant price?

The grant was for restricted stock units with a $0 price indicated in the Form 4.