Larkin Kyle T 4
4 · GRANITE CONSTRUCTION INC · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Granite (GVA) CEO Kyle Larkin Receives Awards; Surrenders Shares for Taxes
What Happened
Kyle T. Larkin, President & CEO and a director of Granite Construction (GVA), received three equity awards on 2026-03-13 totaling 87,019 stock units (grants reported at $0.00). Following vesting events, he surrendered 7,580 shares on 2026-03-14 to cover tax withholding obligations; those shares were recorded as disposed at $120.73 each, totaling $915,133.
Key Details
- Grants (reported as A on Form 4, 2026-03-13): 8,282; 23,893; and 54,844 stock units (total 87,019). All grants reported at $0.00.
- Tax withholding (reported as F on Form 4, 2026-03-14): surrendered 2,982 shares ($360,017), 2,525 shares ($304,843), and 2,073 shares ($250,273); total surrendered = 7,580 shares for $915,133.
- Footnotes: grants issued under Granite equity plans. Notable items: some units (2024 Plan) vest in three equal annual installments (F1); some units (2021 Plan) vest 100% ten days after grant (F3); dividend equivalents were credited (F2). F4–F6 indicate shares surrendered to satisfy taxes for vesting tied to prior grant dates (3/14/23, 3/14/24, 3/14/25).
- Shares owned after the transaction are not disclosed in the provided excerpt.
- Filing: Form 4 filed 2026-03-17 (reporting period 2026-03-13). Transaction appears to be timely; no late-filing indication in the filing excerpt.
- Remarks: exhibit notes a power of attorney (POA).
Context
These were equity awards (stock units) and routine tax-withholding share surrenders, not open-market sales. Stock-unit grants are typically long-term compensation that may vest over time; the surrendered shares were used solely to cover tax obligations upon vesting. Such withholding transactions are common and do not necessarily indicate the insider’s market view.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-03-13+8,282→ 117,751 total - Award
Common Stock
[F3]2026-03-13+23,893→ 141,644 total - Award
Common Stock
[F3]2026-03-13+54,844→ 196,488 total - Tax Payment
Common Stock
[F4]2026-03-14$120.73/sh−2,982$360,017→ 193,506 total - Tax Payment
Common Stock
[F5]2026-03-14$120.73/sh−2,525$304,843→ 190,981 total - Tax Payment
Common Stock
[F6]2026-03-14$120.73/sh−2,073$250,273→ 188,908 total
Footnotes (6)
- [F1]Stock units granted pursuant to the Granite Construction Incorporated 2024 Equity Incentive Plan. The stock units vest in three equal annual installments on the first, second and third anniversaries of the grant date.
- [F2]Total adjusted to include dividend equivalents (DEUs: 38 - 7/15/25; 33 - 10/15/25; 31 - 1/15/26) credited to the Reporting Person under the dividend reinvestment feature of Granite Construction Incorporated's equity plans since the Reporting Person's last report.
- [F3]Stock units granted pursuant to the Granite Construction Incorporated 2021 Equity Incentive Plan. The stock units vest 100% ten days after the date of grant.
- [F4]Shares surrendered for taxes due to vesting on March 14, 2026 (initial grant date 3/14/23).
- [F5]Shares surrendered for taxes due to vesting on March 14, 2026 (initial grant date 3/14/24).
- [F6]Shares surrendered for taxes due to vesting on March 14, 2026 (initial grant date 3/14/25).