GRANITE CONSTRUCTION INC — Director's Dealing 2011

Mar 15, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRANITE CONSTRUCTION INC (GVA)
CIK: 0000861459
Period of Report: 2011-02-28

Reporting Person: DOREY WILLIAM GLENWOOD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-28	Common Stock	M	5992	—	Acquired	54406.8518	Direct
2011-02-28	Common Stock	F	2111	$28.50	Disposed	52307.4006	Direct
2011-03-14	Common Stock	G	3650	—	Disposed	190148	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-28	Stock Units	$0	M	5992	Acquired		Stock Units (5992)	Direct

Footnotes

F1: Reflects the first of three (3) deferred distributions of common stock upon settlement of performance-based compensation which vested on 3/15/2008. Each stock unit represents the economic equivalent of one share of common stock.

F2: Adjusted to reflect 11.5491 dividends acquired on 1/14/11.

F3: Adjusted to reflect 84.7944 restricted stock unit dividends acquired on 1/14/11.