# EDGAR Filing Document

**Accession Number:** 0000861459
**File Stem:** 0001437749-26-017523
**Filing Date:** 2026-5
**Character Count:** 15813
**Document Hash:** 9acb23e3e9e7635663643ca3c75524ba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-017523.hdr.sgml**: 20260518

**ACCESSION NUMBER**: 0001437749-26-017523

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260518

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260518

**DATE AS OF CHANGE**: 20260518

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GRANITE CONSTRUCTION INC
- **CENTRAL INDEX KEY:** 0000861459
- **STANDARD INDUSTRIAL CLASSIFICATION:** HEAVY CONSTRUCTION OTHER THAN BUILDING CONST - CONTRACTORS [1600]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 770239383
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12911
- **FILM NUMBER:** 26990903

**BUSINESS ADDRESS:**
- **STREET 1:** 585 WEST BEACH ST
- **CITY:** WATSONVILLE
- **STATE:** CA
- **ZIP:** 95076
- **BUSINESS PHONE:** 8317241011

**MAIL ADDRESS:**
- **STREET 1:** 585 WEST BEACH ST
- **CITY:** WATSONVILLE
- **STATE:** CA
- **ZIP:** 95076

?xml version='1.0' encoding='ASCII'? gva20260516_8k.htm

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

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**FORM 8-K**

**CURRENT REPORT** 

**Pursuant to Section 13 OR 15(d) of The** 

**Securities Exchange Act of 1934** 

Date of Report (Date of earliest event reported): May 18, 2026

**GRANITE CONSTRUCTION INCORPORATED** 

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| Delaware | 1-12911 | 77-0239383 |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

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585 West Beach Street

Watsonville, California 95076

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (831) 724-1011

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which<br> registered |
| Common Stock, $0.01 par value | GVA | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01. Regulation FD Disclosure.**

On May 18, 2026, Granite Construction Incorporated (the "Company") issued a news release announcing its intention to offer $600.0 million aggregate principal amount of senior notes due 2034 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Company intends to use the net proceeds from the offering, together with cash on hand and any cash payments received from the financial institutions that are counterparties to the capped call transactions (the "2028 Capped Call Transactions") related to the Company's outstanding 3.75% Convertible Senior Notes due 2028 (the "2028 Notes"), to redeem all of the outstanding 2028 Notes and settle any conversions in connection therewith following the offering and, if applicable, as discussed below, to repay borrowings under its revolving credit facility and for general corporate purposes.

The estimated market value of the 2028 Notes is approximately $827.3 million, based on the closing price of the Company's common stock on the NYSE on May 15, 2026 of $138.55 per share. The Company expects that all or substantially all of the holders of the 2028 Notes will elect to convert their notes in connection with the notice of redemption, and that it will settle such conversion requests in cash up to approximately $2,617.41 per each $1,000 principal amount of the 2028 Notes (which, on an as-converted basis, corresponds to approximately $120.00 per share of its common stock), with any remaining conversion consideration to be paid in shares of the Company's common stock. The actual amount of consideration that the Company will be required to pay to settle such conversion requests will depend on the Company's stock price during the relevant period and therefore remains subject to change. If the Company's stock price during the measurement period declines, or if not all holders of the 2028 Notes elect to convert their 2028 Notes following the Company's notice of redemption, or if the Company decides to settle a larger portion of the conversion consideration in shares of its common stock, the amount of cash used by the Company to settle such conversion requests would be correspondingly reduced.

In connection with any conversions or redemption of the 2028 Notes, the Company expects to unwind and terminate the 2028 Capped Call Transactions. In such unwind and termination, the Company would receive an amount from the financial institutions that are counterparties to the 2028 Capped Call Transactions equal to the fair value of such transactions, determined at the time of the unwind and termination. For illustrative purposes, the Company expects to receive approximately $160.0 million upon the unwind and termination of the 2028 Capped Call Transactions. Such amount reflects the Company's estimate of the market value of such 2028 Capped Call Transactions, based on the closing price of the Company's common stock on the NYSE on May 15, 2026 of $138.55 per share and other information available to it. The Company has not yet negotiated the terms of the expected unwind and termination of the 2028 Capped Call Transactions, and accordingly their timing and other terms have not yet been determined. In particular, the actual amount to be received upon such unwind and termination will depend on a number of factors, including the market price of the Company's common stock, volatility and other terms agreed upon with the counterparties. The Company is not required to, and does not, report the fair value of the 2028 Capped Call Transactions in its consolidated financial statements. As a result, the estimated market value thereof reflected above should not be relied upon as an indication of the market value of such instruments or for any other purpose.

To the extent there are any net proceeds remaining from the offering following settlement of any conversions and redemption of the 2028 Notes, the Company intends to use such proceeds to repay borrowings outstanding under its revolving credit facility and for general corporate purposes.

The consummation of the offering of Notes is subject to market conditions. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

The information contained in this report shall not constitute an offer to sell, or a solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale of any Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

**Item 9.01. Financial Statements and Exhibits.**

(d) *<u>Exhibits</u>*

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [News release dated May 18, 2026.](ex_964183.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | GRANITE CONSTRUCTION INCORPORATED | GRANITE CONSTRUCTION INCORPORATED |
| Date: May 18, 2026 | By:  | /s/ Staci M. Woolsey |
|  | Staci M. Woolsey | Staci M. Woolsey |
|  | Executive Vice President, Chief Financial Officer | Executive Vice President, Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![logo.jpg](logo.jpg)

**NEWS RELEASE**

**Granite Construction Incorporated Announces Private Offering of $600 Million of Senior Notes due 2034**

**WATSONVILLE, Calif.**, – **May 18, 2026** – Granite Construction Incorporated (NYSE: GVA) ("Granite") announced today that it plans to offer $600.0 million aggregate principal amount of senior notes due 2034 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Notes will be guaranteed on an unsecured basis by each of Granite's existing and future domestic subsidiaries that is a borrower or a guarantor under Granite's existing credit facility, subject to certain exceptions. The terms, pricing and consummation of the offering of Notes are subject to market and other customary closing conditions.

Granite intends to use the net proceeds from the offering, together with cash on hand and any cash payments received from the financial institutions that are counterparties to the capped call transactions related to the Company's outstanding 3.75% Convertible Senior Notes due 2028 (the "2028 Notes"), to redeem all of the outstanding 2028 Notes and settle any conversions in connection therewith following the offering and, if applicable, as discussed below, to repay borrowings under its revolving credit facility and for general corporate purposes.

The estimated market value of the 2028 Notes is approximately $827.3 million, based on the closing price of our common stock on the NYSE on May 15, 2026 of $138.55 per share. Granite expects that all or substantially all of the holders of the 2028 Notes will elect to convert their notes in connection with the notice of redemption, and it may decide to settle such conversions partially in shares of Granite common stock. If Granite elects to do so, the amount of cash used by it to settle any conversions would be correspondingly reduced. As a result, to the extent there are any net proceeds remaining from the offering following settlement of any conversions and redemption of the 2028 Notes, Granite intends to use such proceeds to repay borrowings outstanding under its revolving credit facility and for general corporate purposes.

In connection with any conversions or redemption of the 2028 Notes, Granite expects to unwind and terminate the capped call transactions it entered into in connection with the original issuance of the 2028 Notes. In such unwind and termination, Granite would receive an amount from the financial institutions that are counterparties to the capped call transactions equal to the fair value of such transactions, determined at the time of the unwind and termination.

The Notes and the related guarantees have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption therefrom. Accordingly, the Notes will be offered only to persons reasonably believed to be "qualified institutional buyers" under Rule 144A of the Securities Act and to persons outside the United States under Regulation S.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, and shall not constitute an offer, solicitation or sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. The information contained in this news release does not constitute a notice of redemption with respect to any of the 2028 Notes.

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**Forward-looking Statements**

Any statements contained in this news release that are not based on historical facts, including statements about the offering, the intended use of proceeds, the terms and pricing of the Notes, the redemption and conversions of the outstanding 2028 Notes, the estimated market value of the 2028 Notes, holders of the 2028 Notes converting their 2028 Notes, the settlement of conversions of the 2028 Notes, the unwind and termination of the capped call transactions and the amount Granite will receive from such unwind and termination constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by words such as "expects," "estimates," "intends," "plans," "potential," "may," "will," "could," "would" and the negatives thereof or other comparable terminology or by the context in which they are made. These forward-looking statements are based on management's current beliefs, assumptions and estimates. These expectations may or may not be realized. Some of these expectations may be based on beliefs, assumptions or estimates that may prove to be incorrect. In particular, the actual amount to be received upon such unwind and termination of the capped call transactions will depend on a number of factors, including the market price of our common stock, volatility and other terms agreed upon with the counterparties. The amount to be received upon the termination and unwind is accordingly subject to change. We are not required to, and do not, report the fair value of the capped call transactions in our consolidated financial statements. As a result, any estimated value thereof should not be relied upon as an indication of the market value of such instruments or for any other purpose. In addition, our business and operations involve numerous risks and uncertainties, many of which are beyond our control, which could result in our expectations not being realized or otherwise materially affect our business, financial condition, results of operations, cash flows and liquidity. Such risks and uncertainties include, but are not limited to, the risks related to whether Granite will consummate the offering of the Notes on the expected terms or at all, the anticipated terms of and the effects of the redemption and conversions of the outstanding 2028 Notes, the unwind and termination of the capped call transactions, investor demand for the Notes, actions of rating agencies, market conditions and other risks described in greater detail in our filings with the Securities and Exchange Commission, particularly those described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Due to the inherent risks and uncertainties associated with our forward-looking statements, the reader is cautioned not to place undue reliance on them. The reader is also cautioned that the forward-looking statements contained herein speak only as of the date of this news release and, except as required by law, we undertake no obligation to revise or update any forward-looking statements for any reason.

**Contacts**:

**Investors**

Wenjun Xu, 831-761-7861

**Media**

Erin Kuhlman, 831-768-4111

Source: Granite Construction Incorporated