---
schema_version: "secwatch.filing_event.v1"
accession: "0000861459-26-000006"
form_type: "8-K"
ticker: "GVA"
cik: "0000861459"
company_name: "GRANITE CONSTRUCTION INC"
filed_at: "2026-02-18T23:59:59+00:00"
generated_at: "2026-05-16T02:16:27.274217+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000861459-26-000006
- form_type: 8-K
- ticker: GVA
- cik: 0000861459
- company_name: GRANITE CONSTRUCTION INC
- filed_at: 2026-02-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/861459/000086145926000006/0000861459-26-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/861459/000086145926000006/gva-20260218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000861459-26-000006
- JSON: https://secwatch.observer/filing/0000861459-26-000006.json
- Plain text: https://secwatch.observer/filing/0000861459-26-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.