Armstrong Dana A 4

What Happened

• Dana A. Armstrong, a director of Great Lakes Dredge & Dock Corporation (GLDD), had 8,436 shares disposed of in connection with a change of control on April 1, 2026. Under the merger, each outstanding GLDD share was cancelled and converted into the right to receive $17.00 in cash, resulting in gross consideration of $143,412 (subject to required tax withholdings).

Key Details

• Transaction date: 2026-04-01 (Effective Time of the merger).
• Price per share: $17.00; total gross proceeds: $143,412.
• Transaction type: Disposition in change of control (reported as "U" in the filing).
• Shares owned after transaction: Not specified in the filing.
• Footnote: The disposal resulted from the Agreement and Plan of Merger dated February 10, 2026, under which Merger Sub merged into GLDD and GLDD became a wholly owned subsidiary of Saltchuk Resources, Inc.; outstanding shares were converted to cash at $17.00/share, without interest and subject to tax withholding.
• Filing timeliness: The Form 4 was filed with the same report and transaction date (2026-04-01), indicating a timely report.

Context

• This was not an open‑market sale by the director but a forced conversion/cash-out due to a corporate merger. Such change‑of‑control dispositions reflect transaction terms, not necessarily the insider’s view of the company’s prospects.