Granite Construction EVP/Chief Strategy Officer Desai to depart Dec 6; receives $729,600 severance

GRANITE CONSTRUCTION INC

Jigisha Desai, EVP & Chief Strategy Officer, resigns effective Dec 6, 2021; assists with transition through that date.
Receives $729,600 lump-sum payment, eligible for 2021 annual bonus and pro-rated LTIP awards in cash.
Company pays 18 months of COBRA premiums and up to 90 days of outplacement services.
Agreement includes customary non-disparagement, cooperation, and general release of claims.
LTIP awards converted to cash payments; all time-based RSUs and LTIP awards forfeited and canceled.

item 5.02 item 9.01

Executive movements

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Departed

Jigisha Desai

Executive Vice President and Chief Strategy Officer

GVA · GRANITE CONSTRUCTION INC

Effective: 2021-12-06
Filed: November 15, 2021, 6:59 PM ET

Pursuant to this Agreement, Ms. Desai will (1) remain an employee of the Company and continue to serve as Executive Vice President and Chief Strategy Officer through December 6, 2021 (the “Separation Date”) and until the Separation Date, continue to receive her annual base salary at the rate in effect immediately prior to entering into the Agreement, (2) resign as Executive Vice President and Chief Strategy Officer and cease to be an employee of the Company as of the Separation Date

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jigisha Desai resigned as Executive Vice President and Chief Strategy Officer at GRANITE CONSTRUCTION INC.

Action: resigned
Role: Executive Vice President and Chief Strategy Officer

Exact text from the filing

Pursuant to this Agreement, Ms. Desai will (1) remain an employee of the Company and continue to serve as Executive Vice President and Chief Strategy Officer through December 6, 2021 (the “Separation Date”) and until the Separation Date, continue to receive her annual base salary at the rate in effect immediately prior to entering into the Agreement, (2) resign as Executive Vice President and Chief Strategy Officer and cease to be an employee of the Company as of the Separation Date

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GRANITE CONSTRUCTION INC filing history →

Source: SEC EDGAR

accession 0001437749-21-026624

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