secwatch.observer — SEC 8-K summary
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Issuer:     Great Lakes Dredge & Dock CORP (—)
CIK:        0001372020
Form:       8-K
Filed at:   2026-02-11T23:59:59+00:00
Accession:  0001193125-26-045567
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Great Lakes Dredge to be acquired by Saltchuk Resources for $17.00 per share in all-cash deal; expected close Q2 2026
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- Saltchuk Resources to acquire GLDD via tender offer at $17.00 per share cash; no financing condition; expected close Q2 2026.
- Termination fee of ~$36.9M payable by GLDD under certain circumstances; board recommends shareholders tender shares.
- Named NEOs to receive transaction bonuses totaling ~$677k: Petterson $224k, Kornblau $132k, Gunsten $98k, Johanson $98k, Schiffer $124k.
- CEO Petterson, CFO Kornblau, and EVP Schiffer waived 'good reason' post-close; eligible for retention bonuses of $5.8M, $1.2M, $1.1M respectively.
- Board terminated equity plans; outstanding RSUs cashed out at $17.00; ESPP final purchase date accelerated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1372020/000119312526045567/0001193125-26-045567-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1372020/000119312526045567/d68610d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-045567

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