Granite Construction to exchange $100M of 3.75% convertible notes for cash and potential stock

GRANITE CONSTRUCTION INC

Exchanged $100M aggregate principal of 3.75% Convertible Senior Notes due 2028 for cash and possible stock.
Consideration approx $283M in cash if VWAP at $128.61; stock portion activates if VWAP > $140.
After exchange, $273.75M of notes remain outstanding; diluted share count reduced by ~2.2M shares.
Entered partial unwind agreements with capped call counterparties related to exchanged notes.
Measurement period starts Feb 18, 2026; closing expected after 15 trading days subject to conditions.

item 1.01 item 1.02 item 3.02 item 9.01

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ticker: GVA
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company_name: GRANITE CONSTRUCTION INC
filed_at: 2026-02-18T23:59:59+00:00
discovered_at: 2026-05-14T18:02:37.841553+00:00
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accession 0000861459-26-000006

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