---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-069680"
form_type: "8-K"
ticker: "GVA"
cik: "0000861459"
company_name: "GRANITE CONSTRUCTION INC"
filed_at: "2022-06-09T23:59:59+00:00"
generated_at: "2026-06-25T03:22:35.655103+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Granite Construction reaches $7.5M derivative lawsuit settlement with governance reforms

## Summary
- D&O insurers to pay $7.5M to Granite; court approval hearing set for July 12, 2022.
- Board adopts reforms: audit committee meets 6x/year, risk committee oversight, director NACD training.
- Settlement releases claims against directors/officers for alleged breaches tied to 2019 project losses.
- Plaintiffs' counsel may seek up to $2.5M in fees from the settlement fund.
- Derivative actions stem from $106.7M charge and restatement of 2017-2019 financial results.

## SEC filing metadata
- accession: 0001104659-22-069680
- form_type: 8-K
- ticker: GVA
- cik: 0000861459
- company_name: GRANITE CONSTRUCTION INC
- filed_at: 2022-06-09T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/861459/000110465922069680/0001104659-22-069680-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/861459/000110465922069680/tm2218109d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-069680
- JSON: https://secwatch.observer/filing/0001104659-22-069680.json
- Plain text: https://secwatch.observer/filing/0001104659-22-069680.txt

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