BEYKO ELENI 4
4 · Great Lakes Dredge & Dock CORP · Filed Apr 1, 2026
Research Summary
AI-generated summary of this filing
Great Lakes Dredge (GLDD) SVP Eleni Beyko Receives Award, Sells Shares
What Happened
- Eleni Beyko, SVP — Offshore Energy, recorded two Form 4 transactions on April 1, 2026 tied to the company’s merger. A performance-based award of 25,505 shares (A) vested at the Effective Time and 151,312 shares were disposed in a change of control (U). Under the Merger Agreement, each outstanding GLDD share was converted into $17.00 cash. That implies approximately $433,585 for the 25,505 vested award and approximately $2,572,304 for the 151,312-share disposition (combined ≈ $3,005,889). The Form 4 lists prices as N/A because the shares were cashed out in the merger rather than sold on the open market.
Key Details
- Transaction date: April 1, 2026 (Effective Time of the merger).
- Merger consideration: $17.00 per share in cash (per Merger Agreement).
- Reported items: 25,505 shares granted/vested (performance RSUs); 151,312 shares disposed via change of control.
- Shares owned after transaction: no outstanding common shares for Beyko (all outstanding common stock was canceled and converted at the Effective Time).
- Relevant footnotes: F1 — performance-based RSUs fully vested at the Effective Time; F2 — Merger Sub merged into Issuer and each share canceled for $17 cash; F3 — treatment of 77,128 RSUs (61,359 RSUs cashed out, 15,769 converted to a cash-based award subject to time-based vesting).
- Filing timeliness: Form 4 filed reporting transactions dated April 1, 2026 (filed same day).
Context
- This was not an open-market sale — shares were converted to cash because of a change-of-control (merger) rather than voluntary insider selling. Awards vested and/or were cashed out per the Merger Agreement. Such merger-driven dispositions reflect transaction mechanics (cash-out) and should not be interpreted as a straightforward insider sentiment trade.
Insider Transaction Report
Form 4Exit
BEYKO ELENI
SVP - Offshore Energy
Transactions
- Award
Common Stock
[F1]2026-04-01+25,505→ 151,312 total - Disposition from Tender
Common Stock
[F2][F3]2026-04-01−151,312→ 0 total
Footnotes (3)
- [F1]Pursuant to the Merger Agreement (as defined in footnote 2 below), at the Effective Time (as defined in footnote 2 below), these performance-based restricted stock units fully vested, with the number earned or deemed earned as set forth in the Merger Agreement.
- [F2]Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated February 10, 2026, by and among Saltchuk Resources, Inc. ("Parent"), Huron MergeCo, Inc. ("Merger Sub"), and Great Lakes Dredge & Dock Corporation ("Issuer") on April 1, 2026 (the "Effective Time"), Merger Sub merged with and into Issuer, with Issuer surviving as a wholly owned subsidiary of Parent upon consummation of the transactions contemplated by the Merger Agreement. At the Effective Time, each outstanding share of common stock of the Issuer ("Common Stock") was cancelled and converted into the right to receive $17.00 in cash (the "Merger Consideration"), without interest and subject to any required tax withholdings.
- [F3]Includes 77,128 restricted stock units ("RSUs"). At the Effective Time, 61,359 outstanding RSUs were canceled and converted into the right to receive an amount in cash equal to the product of the aggregate number of shares of Common Stock underlying such RSUs immediately prior to the Effective Time, multiplied by the Merger Consideration, and 15,769 RSUs were replaced by a cash-based award of equivalent value (based on the Offer Price (as defined in the Merger Agreement)) that is subject to the same time-based vesting conditions as applied to the unvested portion of such award prior to the Effective Time.
Signature
/s/Vivienne R. Schiffer, by Power of Attorney|2026-04-01