GRANITE CONSTRUCTION INC — Director's Dealing 2010

Dec 8, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRANITE CONSTRUCTION INC (GVA)
CIK: 0000861459
Period of Report: 2010-12-06

Reporting Person: NIEBLA JESUS FERNANDO (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-10-15	Common Stock	A	38.8257	$22.74	Acquired	11059.3548	Direct
2010-12-06	Common Stock	M	274	$10.5633	Acquired	11333.3548	Direct
2010-12-06	Common Stock	M	333	$9.6033	Acquired	11666.3548	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-06	Option (Right to Buy)	$10.5633	M	274	Disposed	2011-03-30	Common Stock (274)	Direct
2010-12-06	Option (Right to Buy)	$9.6033	M	333	Disposed	2010-12-30	Common Stock (333)	Direct

Footnotes

F1: Dividends on stock units granted pursuant to the Granite Construction Incorporated Amended and Restated 1999 Equity Incentive Plan.

F2: Includes 6,830.3548 stock units and dividend shares on stock units.