secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0000861459-26-000006
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000086145926000006/0000861459-26-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000086145926000006/gva-20260218.htm
  HTML page:      https://secwatch.observer/filing/0000861459-26-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer