General Dynamics director converts fees to 95 shares; holdings now 6,938 direct

Rhea-AI Filing Summary

Catherine B. Reynolds, a director of General Dynamics Corporation (GD), received 95 shares of Common Stock on 09/16/2025 as payment in lieu of director fees at an effective price of $326.97 per share. After the transaction she beneficially owned 6,938 shares directly and had an indirect interest in 600 shares held by her spouse. The Form 4 was submitted through a power of attorney representative who signed the filing on behalf of the reporting person. The filing discloses routine director compensation converted into equity and shows modest insider accumulation consistent with board retainer settlement.

Positive

• Director compensation converted to equity, aligning the reporting person's interests with shareholders
• Transparent pricing disclosed for the fee conversion: $326.97 per share

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director stock issuance for fees; modest direct and indirect holdings, no unusual trading.

The filing documents a standard in-kind director compensation payment where cash fees were converted into 95 shares of Common Stock at $326.97 each. This is a non-derivative acquisition under the outside directors' compensation program and is commonly used to align director interests with shareholders. Holdings after the transaction total 6,938 shares directly plus 600 shares indirectly via spouse ownership, which are small relative to a large-cap issuer but reinforce director equity ownership. There is no indication of sales, option exercises, pledges, or other atypical transactions.

Securities Analyst

TL;DR: Transaction is administrative and immaterial to GD valuation; it reflects routine compensation practice.

The acquisition of 95 shares in lieu of cash fees is an administrative conversion of compensation and does not represent a market-driven purchase. The disclosed price of $326.97 per share provides transparency on valuation for the fee conversion. Total beneficial ownership disclosed (6,938 direct; 600 indirect) is modest and unlikely to influence control or signal a material change in insider conviction. No derivative instruments or disposals were reported in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Reynolds Catherine B

(Last) (First) (Middle)

C/O GENERAL DYNAMICS CORPORATION

11011 SUNSET HILLS ROAD

(Street)

RESTON VA 20190

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENERAL DYNAMICS CORP [ GD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/16/2025		A(1)		95	A	$326.97	6,938	D
Common Stock								600	I	Held by Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects stock received in lieu of director fees in accordance with outside directors' compensation program.

	Nicholas R. Barnaby, by Power of Attorney	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did GD director Catherine B. Reynolds report on Form 4 (GD)?

The report shows an acquisition of 95 shares of General Dynamics Common Stock received in lieu of director fees.

At what price were the shares issued to Catherine B. Reynolds?

The shares were recorded at a price of $326.97 per share.

How many shares does Catherine B. Reynolds beneficially own after the reported transaction?

She beneficially owns 6,938 shares directly and has an indirect interest in 600 shares held by her spouse.

Was the Form 4 filing signed personally by Catherine B. Reynolds?

No; the filing was executed by a power of attorney representative on her behalf.

Does the Form 4 disclose any option exercises, sales, or derivative transactions for this reporting person?

No; the filing reports only a non-derivative acquisition of common stock as director compensation.