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    Kyle T. Larkin

    President and Chief Executive Officer at Granite Construction Inc
    Board
    Since June 2021
    Age
    53 years
    Education
    Holds a B.S. in Construction Management from California Polytechnic State University, San Luis Obispo and an M.B.A. from the University of Massachusetts, Amherst.
    Tenure
    Joined GVA in 1996 and advanced through roles such as Project Manager, Chief Estimator, Manager of Construction, and President of a subsidiary before being promoted to President in September 2020 and then Chief Executive Officer in June 2021.

    Also at Granite Construction Inc

    BJW
    Bradley J. Williams
    Senior Vice President, Construction
    BJE
    Bradly J. Estes
    Senior Vice President, Construction Materials
    BAD
    Brian A. Dowd
    Senior Vice President, Construction

    About

    Kyle T. Larkin is a seasoned executive at Granite Construction Incorporated (GVA) with a balanced background in construction management and business leadership.

    He began his career at GVA in 1996, progressing from technical and project-level roles to key leadership positions including Project Manager, Chief Estimator, Manager of Construction, and President of a wholly-owned subsidiary.

    In September 2020, he was named President and later promoted to Chief Executive Officer in June 2021, reflecting his significant contributions and strategic vision for the company. His academic credentials, comprising a B.S. in Construction Management and an M.B.A., underscore his commitment to excellence and his comprehensive understanding of the industry.

    $GVA Performance Under Kyle T. Larkin

    Past Roles

    OrganizationRoleDate Range
    Granite Construction Incorporated (GVA) Executive Vice President and Chief Operating Officer February 2020 - September 2020
    Granite Construction Incorporated (GVA) Senior Vice President and Manager of Construction and Materials Operations 2019 - 2020
    Granite Construction Incorporated (GVA) Senior Vice President and Group Manager 2017 - 2019
    Granite Construction Incorporated (GVA) Vice President and Regional Manager in Nevada 2014 - 2017
    Granite Construction Incorporated (GVA) President of Granite’s wholly-owned subsidiary, Intermountain Slurry Seal, Inc. 2011 - 2014
    Granite Construction Incorporated (GVA) Manager of Construction at the Reno area office 2008 - 2011
    Granite Construction Incorporated (GVA) Chief Estimator 2004 - 2008
    Granite Construction Incorporated (GVA) Project Manager, Project Engineer, and Estimator 1996 - 2003

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$975,000 2024Base salary for 2024.
    RSU Time-Based Service Awards$800,000 and 14,695 RSUs Vest in three equal annual installments starting March 14, 2025Granted on March 14, 2024 at a stock price of $54.44.
    All Other Compensation$74,086 2024Includes 401(k) match ($20,700 ), Dividends ($18,203 ), Vehicle Allowances ($12,000 ), Insurance ($23,183 ).
    Potential Termination/Change-in-Control Payments$25,477,997 Contingent upon termination or change-in-control eventsConsists of Cash Severance ($3,433,797 ), Insurance Benefits ($39,178 ), Other Compensation ($37,000 ), Accelerated Equity Awards ($21,968,022 ).

    Performance Compensation

    Data from  FY 2024

    RSU Performance-Based Awards

    MetricValue
    Performance MetricsTSR: 67% , RONA: 33%
    Threshold$1,200,000
    Target$2,400,000
    Maximum$4,800,000
    Grant DateMarch 14, 2024
    Grant Date Stock Price$54.44
    Vesting ScheduleVests after performance period (post Dec 31, 2026)

    Non-Equity Incentive Plan Compensation (AIP)

    MetricValue
    Performance MetricsCompany EBITDA (80% weighting) and OCF (% of Revenue) (20% weighting)
    Threshold$585,000
    Target$1,170,000
    Maximum$2,340,000
    Actual Payout$1,431,867
    Grant DateMarch 14, 2024
    Payment TypeCash-based; no vesting

    Long-Term Incentive Plan (LTIP) - Performance-Based Component

    MetricValue
    Performance MetricsRelative TSR (50% weighting) and RONA (25% weighting)
    Target Opportunity$3,200,000
    Award Details81,657 RSUs with a Grant Date Fair Value of $4,445,407
    Threshold/RangePayout range from 0% to 200% of target
    Grant DateMarch 14, 2024
    Grant Date Stock Price$54.44
    Vesting ScheduleVesting occurs after Dec 31, 2026, subject to performance

    These components collectively define the performance compensation for 2024, with detailed metrics, targets, schedules, and actual outcomes where available.