[Form 4] Granite Construction Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4: Director Louis E. Caldera reported a sale of 1,500 shares of Granite Construction Inc. (GVA) on 08/28/2025 at a reported price of $110.16 per share. After the sale, Mr. Caldera beneficially owns 10,601 shares. The filing was signed by an attorney-in-fact on behalf of Mr. Caldera.

Positive

• Continued ownership: Mr. Caldera still beneficially owns 10,601 shares after the sale

Negative

• Insider sale: Director sold 1,500 shares at $110.16 per share on 08/28/2025

Insights

Corporate Governance Expert

TL;DR: A routine insider sale by a director; ownership remains material but the transaction appears non-material to firm valuation.

The Form 4 discloses a single open-market sale of 1,500 shares by Director Louis E. Caldera at $110.16 per share, leaving him with 10,601 shares beneficially owned. The filing contains no indication of 10b5-1 plan status, amendment, or derivative activity. This is a typical disclosure that updates public records on insider holdings; absent additional context on timing or size relative to total outstanding shares, it does not by itself signal a major governance or liquidity event.

Securities Analyst

TL;DR: Insider sale recorded; scale appears modest given remaining ownership, so likely neutral for investors.

The transaction date is 08/28/2025 and the Form 4 shows a sale (code S) of 1,500 common shares at $110.16 per share. Post-transaction beneficial ownership is 10,601 shares held directly. No derivative positions are reported. For investors tracking insider activity, this is a documented sale but lacks additional commentary or linked strategic context in the filing.

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
Estimated average burden
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^*

CALDERA LOUIS E

(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)
08/28/2025

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	08/28/2025		S		1,500	D	$110.16	10,601	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:

Remarks:

	/s/ Troy Erickson, attorney-in-fact for Louis E. Caldera	08/28/2025
	** 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 did Louis E. Caldera report on the Form 4 for GVA?

The Form 4 reports a sale of 1,500 Granite Construction (GVA) shares on 08/28/2025 at $110.16 per share and a post-transaction beneficial ownership of 10,601 shares.

Does the Form 4 show any options or derivatives for Louis E. Caldera?

No. Table II for derivative securities is blank; the filing reports only a non-derivative sale of common stock.

Was the sale part of a 10b5-1 plan according to the filing?

The form does not indicate a 10b5-1 trading plan; there is no checked box or explanatory note stating the transaction was pursuant to such a plan.

Who signed the Form 4 for Louis E. Caldera?

The Form 4 was signed by Troy Erickson, attorney-in-fact on behalf of Louis E. Caldera on 08/28/2025.