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Companies Great Lakes Dredge & Dock

Great Lakes Dredge & Dock (GLDD): executive pay, fiscal 2024

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CEO total pay$4,570,358CEO Lasse Petterson · source
CEO pay ratio46:1To the median employee · source

CEO pay, last three years

  • $3,801,960FY2022
  • $3,217,764FY2023
  • $4,570,358FY2024

CEO total pay was $4,570,358 in fiscal 2024, up from $3,217,764 in fiscal 2023.

FY2024: salary $816,400 · bonus $0 · stock awards $2,041,010 · option awards $0

Frequently asked questions

Who was the highest-paid executive at Great Lakes Dredge & Dock in fiscal 2024?
As disclosed, Lasse Petterson (President & Chief Executive Officer) was the highest-paid executive at Great Lakes Dredge & Dock in fiscal 2024, with total compensation of $4,570,358.
What is Great Lakes Dredge & Dock's CEO-to-median employee pay ratio?
As disclosed, Great Lakes Dredge & Dock's CEO-to-median employee pay ratio was 46:1.
How much does Great Lakes Dredge & Dock spend in total on board compensation for fiscal 2024?
As disclosed, Great Lakes Dredge & Dock reported total board compensation of $1,035,006 for fiscal 2024.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Lasse Petterson$816,400$0$2,041,010$0$1,632,800$0$80,148$4,570,358
President & Chief Executive Officer
Scott Kornblau452,4000840,0380633,360068,2401,994,038
Senior Vice President, Chief Financial Officer
David Johanson364,0000673,8960400,400052,1201,490,416
Senior Vice President, Project Acquisition & Operations
Christopher Gunsten364,0000673,8960400,400048,4831,486,779
Senior Vice President, Project Services & Fleet Engineering
Vivienne Schiffer416,0000270,4000457,600051,2661,195,266
Senior Vice President, Chief Legal Officer, Chief Compliance Officer & Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2024 totalFY2023 totalFY2022 totalΔ FY2023→2024
Lasse Petterson$4,570,358$3,217,764$3,801,960↑ +1,352,594
Scott Kornblau1,994,0381,548,181834,096↑ +445,857
David Johanson1,490,416794,990—↑ +695,426
Christopher Gunsten1,486,779794,990—↑ +691,789
Vivienne Schiffer1,195,266851,891631,062↑ +343,375

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The Company’s executive compensation program is designed to attract, motivate and retain highly skilled, performance-oriented executives and closely align compensation paid to our named executive officers with our operating and financial goals. A primary goal is to achieve accountability for performance by linking the majority of executive compensation to achievement of measurable performance objectives that reflect our strategic plan.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantPearl Meyer
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Christopher GunstenRSU2024-03-15——12,668—$109,198
Christopher GunstenPSU2024-03-156,33412,668—25,336109,198
David JohansonRSU2024-03-15——12,668—109,198
David JohansonPSU2024-03-156,33412,668—25,336109,198
Scott KornblauRSU2024-03-15——22,305—192,269
Scott KornblauPSU2024-03-1511,15322,305—44,610192,269
Vivienne SchifferRSU2024-03-15——15,684—135,196
Vivienne SchifferPSU2024-03-157,84215,684—31,368135,196
Christopher GunstenPSU2024-07-3020,00050,000—50,000455,500
David JohansonPSU2024-07-3020,00050,000—50,000455,500
Lasse PettersonRSU2024-03-15——118,388—1,020,505
Lasse PettersonPSU2024-03-1559,194118,388—236,7761,020,505
Scott KornblauPSU2024-07-3020,00050,000—50,000455,500

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Christopher Gunsten$109,198$564,698$083.8%
David Johanson109,198564,698083.8%
Scott Kornblau192,269647,769077.1%
Vivienne Schiffer135,196135,196050.0%
Lasse Petterson1,020,5051,020,505050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
David JohansonRSU734—$8,287
Christopher GunstenRSU738—8,332
Vivienne SchifferRSU1,735—19,588
Christopher GunstenRSU2,624—29,625
David JohansonRSU2,645—29,862
Scott KornblauRSU2,718—0
Vivienne SchifferRSU2,719—30,698
Scott KornblauRSU4,259—48,084
Christopher GunstenRSU6,810—76,885
David JohansonRSU6,810—76,885
Vivienne SchifferRSU7,654—86,414
Christopher GunstenRSU8,402—94,859
David JohansonRSU8,402—94,859
Christopher GunstenRSU8,446—95,355
David JohansonRSU8,446—95,355
Vivienne SchifferRSU10,402—117,439
Vivienne SchifferRSU10,456—118,048
Christopher GunstenRSU11,031—124,540
David JohansonRSU11,031—124,540
Lasse PettersonRSU11,538—130,264
Scott KornblauRSU11,990—135,367
Christopher GunstenRSU12,495—141,069
David JohansonRSU12,495—141,069
Vivienne SchifferRSU12,881—145,426
Christopher GunstenPSU13,620—153,770
David JohansonPSU13,620—153,770
Vivienne SchifferRSU14,043—158,545
Scott KornblauRSU14,794—0
Scott KornblauRSU14,870—167,882
Vivienne SchifferPSU15,308—172,827
Christopher GunstenPSU16,892—190,711
David JohansonPSU16,892—190,711
Lasse PettersonRSU18,084—204,168
Scott KornblauRSU19,424—219,297
Vivienne SchifferPSU20,914—236,119
Scott KornblauRSU22,000—248,380
Scott KornblauPSU23,980—270,734
Scott KornblauPSU29,742—335,787
Scott KornblauRSU30,000—338,700
Scott KornblauPSU50,000—564,500
Christopher GunstenPSU50,000—564,500
David JohansonPSU50,000—564,500
Lasse PettersonRSU50,908—574,751
Lasse PettersonRSU78,529—886,592
Lasse PettersonRSU78,926—891,075
Lasse PettersonRSU90,370—1,020,277
Lasse PettersonRSU93,414—1,054,644
Lasse PettersonPSU101,820—1,149,548
Lasse PettersonPSU157,852—1,782,149
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Lawrence R. DickersonIndependent · Board Chair · Compensation · Nominating, Corporate Governance and Sustainability (Chair)$90,868$183,750———$274,618
Ronald R. StegerIndependent · Audit (Chair) · Nominating, Corporate Governance and Sustainability94,50094,500———189,000
Kathleen M. ShanahanIndependent · Compensation (Chair) · Nominating, Corporate Governance and Sustainability90,18783,228———173,415
Earl L. ShippIndependent · Audit · Compensation89,00080,000———169,000
D. Michael SteuertIndependent85,35481,772———167,126
Ryan J. LevensonIndependent · Departed during FY32,39629,451———61,847

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$80,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 10,000 / 7,500
Stock ownership guideline—

Total cost of the board

ComponentFY2024
Cash retainers and fees$482,305
Equity awards (grant-date value)$552,701
All other compensation$0
Total cost of the board$1,035,006

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Great Lakes Dredge & Dock as a peer

Companies that benchmark against GLDD

4 companies name GLDD as a compensation peer

Each company listed discloses GLDD in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named GLDD in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2024

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Great Lakes Dredge & Dock names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Sterling Infrastructure, Inc.2025Joseph Cutillo$1,100,000$4,675,000$0$2,530,000$8,414,685
2Matrix Service Company2026John Hewitt800,0003,981,4430291,4786,741,465
3ProPetro Holding Corp.2025Samuel Sledge975,0004,391,41001,137,5006,539,712
4Construction Partners, Inc.2025Fred J. (Jule) Smith, III837,3082,870,3280875,0006,410,129
5Forum Energy Technologies, Inc.2025Neal Lux717,7694,232,10501,196,4636,163,337
6Tidewater Inc.2025Quintin Kneen750,0003,892,45801,078,1255,732,208
7Oil States International, Inc.2025Cindy Taylor925,0002,400,00301,654,2445,079,386
8Great Lakes Dredge & Dock2024Lasse Petterson816,4002,041,01001,632,8004,570,358
9Mistras Group, Inc.2025Natalia Shuman850,0001,971,413190,482510,0003,610,368
10Northwest Pipe Company2025Scott Montross732,1821,280,06101,464,3643,492,930
11Ameresco, Inc.2025George Sakellaris1,500,000155,1001,385,99903,339,804
12Limbach Holdings, Inc.2025Michael McCann800,0001,192,1500741,3062,759,456
13Argan, Inc.2026David Watson500,0001,547,26086,50002,668,098
14NV5 Global, Inc.2023Dickerson Wright749,0141,663,424002,447,385
15Orion Group Holdings, Inc.2025Paul McDowell584,000659,9060746,9362,080,319
16KLX Energy/Services Holdings, Inc.2025Christopher Baker638,820761,9350291,1101,715,996
17Team, Inc.2025Keith Tucker750,00000495,1191,265,655
—Helix Energy Solutions Group, Inc.——————not in coverage universe
—Newpark Resources, Inc.——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Great Lakes Dredge & Docknot disclosedRSU 50 · PSU 50not disclosedPearl Meyer
Ameresco, Inc.95%not disclosedNoFW Cook
Argan, Inc.not disclosednot disclosednot disclosednot disclosed
Construction Partners, Inc.100%PSU 73 · RSU 27NoDana Krieg (independent compensation consultant)
Forum Energy Technologies, Inc.not disclosedPSU 50 · RSU 50not disclosedMeridian Compensation Partners, LLC
Helix Energy Solutions Group, Inc.not disclosednot disclosednot disclosednot disclosed
KLX Energy/Services Holdings, Inc.not disclosedRSU 100not disclosedF.W. Cook
Limbach Holdings, Inc.not disclosedPRSU 67 · RSU 33not disclosedCAP
Matrix Service Companynot disclosedRSU 50 · PSU 50NoPay Governance
Mistras Group, Inc.60%RSU 100NoPay Governance LLC
Newpark Resources, Inc.not disclosednot disclosednot disclosednot disclosed
Northwest Pipe Companynot disclosedPSU 75 · RSU 25not disclosedWillis Towers Watson
NV5 Global, Inc.not disclosedRSA 100not disclosedMeridian Compensation Partners, LLC
Oil States International, Inc.not disclosedRSU 50 · PRSU 25 · Cash Performance Award 25not disclosedMeridian Compensation Partners
Orion Group Holdings, Inc.not disclosedPSU 60 · RSU 40Yes — absolute TSR performanceFerguson Partners Consulting L.P.
ProPetro Holding Corp.not disclosedRSU 50 · PSU 50not disclosedPearl Meyer
Sterling Infrastructure, Inc.not disclosedPSU 60 · RSU 40Yes — Relative Total Shareholder Return (TSR)Meridian Compensation Partners, LLC
Team, Inc.not disclosedPSU 70 · RSU 30NoWillis Towers Watson (WTW)
Tidewater Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio

No say-on-pay vote is on file for this company.

CEO pay ratio

Ratio (CEO : median employee)46 : 1
CEO total compensation$4,570,358
Median employee compensation$98,792
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (47 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Lasse Petterson. DEF 14A, filed 2025-03-26. Section “Executive Compensation Tables” · page 36. As printed: 4,570,358. View filing ↗
  • Section 01, Scott Kornblau. DEF 14A, filed 2025-03-26. Section “Executive Compensation Tables” · page 36. As printed: 1,994,038. View filing ↗
  • Section 01, David Johanson. DEF 14A, filed 2025-03-26. Section “Executive Compensation Tables” · page 36. As printed: 1,490,416. View filing ↗
  • Section 01, Christopher Gunsten. DEF 14A, filed 2025-03-26. Section “Executive Compensation Tables” · page 36. As printed: 1,486,779. View filing ↗
  • Section 01, Vivienne Schiffer. DEF 14A, filed 2025-03-26. Section “Executive Compensation Tables” · page 36. As printed: 1,195,266. View filing ↗
  • Section 03, Christopher Gunsten RSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Gunsten PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Johanson RSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Johanson PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Scott Kornblau RSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Scott Kornblau PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Vivienne Schiffer RSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Vivienne Schiffer PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Gunsten PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Johanson PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Lasse Petterson RSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Lasse Petterson PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Scott Kornblau PSU. DEF 14A, filed 2025-03-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2025-03-26. Section “CEO Pay Ratio”. As printed: 46 : 1. View filing ↗
  • Section 08, Lawrence R. Dickerson. DEF 14A, filed 2025-03-26. Section “Director Compensation”. As printed: 274,618. View filing ↗
  • Section 08, Ronald R. Steger. DEF 14A, filed 2025-03-26. Section “Director Compensation”. As printed: 189,000. View filing ↗
  • Section 08, Kathleen M. Shanahan. DEF 14A, filed 2025-03-26. Section “Director Compensation”. As printed: 173,415. View filing ↗
  • Section 08, Earl L. Shipp. DEF 14A, filed 2025-03-26. Section “Director Compensation”. As printed: 169,000. View filing ↗
  • Section 08, D. Michael Steuert. DEF 14A, filed 2025-03-26. Section “Director Compensation”. As printed: 167,126. View filing ↗
  • Section 08, Ryan J. Levenson. DEF 14A, filed 2025-03-26. Section “Director Compensation”. As printed: 61,847. View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 482,305 + equity 552,701 + all other 0 = 1,035,006, summed across the director compensation table rows.
  • Sterling Infrastructure, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Sterling Infrastructure, Inc.'s own proxy. As printed: 8,414,685. View filing ↗
  • Matrix Service Company, Section 10b CEO total. DEF 14A, filed 2026-09-23. CEO total compensation as printed in Matrix Service Company's own proxy. As printed: 6,741,465. View filing ↗
  • ProPetro Holding Corp., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in ProPetro Holding Corp.'s own proxy. As printed: 6,539,712. View filing ↗
  • Construction Partners, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-27. CEO total compensation as printed in Construction Partners, Inc.'s own proxy. As printed: 6,410,129. View filing ↗
  • Forum Energy Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Forum Energy Technologies, Inc.'s own proxy. As printed: 6,163,337. View filing ↗
  • Tidewater Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Tidewater Inc.'s own proxy. As printed: 5,732,208. View filing ↗
  • Oil States International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Oil States International, Inc.'s own proxy. As printed: 5,079,386. View filing ↗
  • Great Lakes Dredge & Dock (subject), Section 10b CEO total. DEF 14A, filed 2025-03-26. CEO total compensation as printed in Great Lakes Dredge & Dock's own proxy. As printed: 4,570,358. View filing ↗
  • Mistras Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Mistras Group, Inc.'s own proxy. As printed: 3,610,368. View filing ↗
  • Northwest Pipe Company, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Northwest Pipe Company's own proxy. As printed: 3,492,930. View filing ↗
  • Ameresco, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Ameresco, Inc.'s own proxy. As printed: 3,339,804. View filing ↗
  • Limbach Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Limbach Holdings, Inc.'s own proxy. As printed: 2,759,456. View filing ↗
  • Argan, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Argan, Inc.'s own proxy. As printed: 2,668,098. View filing ↗
  • NV5 Global, Inc., Section 10b CEO total. DEF 14A, filed 2024-04-29. CEO total compensation as printed in NV5 Global, Inc.'s own proxy. As printed: 2,447,385. View filing ↗
  • Orion Group Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Orion Group Holdings, Inc.'s own proxy. As printed: 2,080,319. View filing ↗
  • KLX Energy/Services Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in KLX Energy/Services Holdings, Inc.'s own proxy. As printed: 1,715,996. View filing ↗
  • Team, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Team, Inc.'s own proxy. As printed: 1,265,655. View filing ↗
  • Section 10a, Limbach Holdings, Inc. reciprocity. DEF 14A. Limbach Holdings, Inc. names Great Lakes Dredge & Dock in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Northwest Pipe Company reciprocity. DEF 14A. Northwest Pipe Company names Great Lakes Dredge & Dock in its own disclosed peer group (read from its most recent proxy). View filing ↗
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