[Form 4] Granite Construction Inc. Insider Trading Activity

Rhea-AI Filing Summary

Granite Construction director Alan Krusi received a grant of 1,234 restricted stock units (RSUs) on 08/12/2025 under the company's 2024 Equity Incentive Plan. The RSUs vest on May 20, 2026, and were reported as no-cost awards in the Form 4. After the grant, Mr. Krusi is reported to beneficially own 21,934 shares of Granite Construction (GVA). The transaction was reported on a Form 4 filed under Section 16 and was submitted by an attorney-in-fact on Mr. Krusi's behalf.

Positive

• 1,234 restricted stock units granted to Director Alan Krusi under the 2024 Equity Incentive Plan
• RSUs vest on May 20, 2026, creating time‑based alignment with shareholders
• Reported beneficial ownership of 21,934 shares after the grant, indicating continued insider ownership

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A routine, time‑based equity grant to align a director with shareholder interests; not unusual for board compensation.

The 1,234 RSU award is a standard non‑derivative, no‑cash equity grant under the 2024 Equity Incentive Plan that vests on a specified future date. This structure ties compensation to continued service and potential share price performance until vesting. The filing shows the director retains a meaningful common stock position of 21,934 shares, which supports alignment with long‑term shareholders. There is no disclosure in this Form 4 of option exercises, sales, or other transactions that would suggest immediate liquidity events.

Securities Analyst

TL;DR: Transaction appears non‑material to company capitalization; it's a routine director equity grant with time‑based vesting.

The grant size (1,234 RSUs) and reported post‑transaction ownership (21,934 shares) are explicit in the filing. Because the RSUs were reported as granted at $0 price and will vest in the future, there is no present cash flow or exercised derivative exposure recorded. The Form 4 does not disclose any sales or dispositions by the reporting person that would affect free float. From a market impact perspective, this single director grant is typically immaterial to overall capitalization unless part of a larger compensation program not shown here.

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

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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^*

Krusi Alan

(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	21,934	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.

Remarks:

See Exhibit for POA

	/s/ Troy Erickson, attorney-in-fact for Alan P. Krusi	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 was reported for Granite Construction (GVA)?

The Form 4 reports a grant of 1,234 restricted stock units (RSUs) to director Alan Krusi on 08/12/2025.

When do the RSUs granted to Alan Krusi vest?

The RSUs are scheduled to vest on May 20, 2026.

How many shares does Alan Krusi beneficially own after the reported transaction?

Following the reported grant, Mr. Krusi is shown as beneficially owning 21,934 shares of Granite Construction.

Were the RSUs granted at a purchase price?

The RSUs are reported with a $0 price, indicating they were granted as compensation rather than purchased.

Who filed the Form 4 on behalf of Alan Krusi?

The filing was submitted by an attorney‑in‑fact acting for Alan P. Krusi.