GD Executive VP Gilliland reports option exercise and same-day $315 share sale

Rhea-AI Filing Summary

Marguerite Amy Gilliland, identified as an Executive Vice President of General Dynamics Corporation (GD), reported securities transactions dated 08/08/2025. The filing records activity in Common Stock and stock options with a listed conversion/exercise price of $167.61. The report lists 33,740 shares associated with an acquisition entry at $167.61 and contemporaneous sales of 33,740 shares with an average sale price of $315.201 and individual sale prices ranging $314.91–$315.53, with the filing showing 45,192 shares beneficially owned following the reported sales.

The filing also discloses indirect ownership of 811.409 shares through a General Dynamics 401(k) plan and references stock options related to 33,740 underlying shares with exercisability milestones noted (50% exercisable 03/06/2021; remaining 50% exercisable 03/06/2022) and an expiration date shown as 03/05/2029. The form was signed by an attorney under power of attorney on 08/12/2025.

Positive

• Exercise of options recorded at $167.61, indicating option-related acquisition activity explicitly disclosed.
• 401(k) plan holdings disclosed (811.409 shares), clarifying indirect ownership status.

Negative

• Sale of 33,740 shares reported at an average price of $315.201, with sale prices ranging $314.91–$315.53, reducing direct holdings to 45,192 shares.
• No explanatory commentary is included in the filing about the purpose of the sales or any trading plan in effect, limiting investor context.

Insights

Financial Analyst

TL;DR: Insider exercised options and sold the same number of shares on 08/08/2025, materially reducing direct holdings.

The report shows a same-day exercise-related acquisition of 33,740 shares at a listed exercise/conversion price of $167.61 and concurrent sales of 33,740 shares at an average of $315.201. The disclosed sale price range ($314.91–$315.53) implies meaningful proceeds from the disposition. Beneficial ownership reported after the transactions is 45,192 shares held directly, plus 811.409 shares indirectly via a 401(k) plan. This is a material insider transaction in absolute dollars and share count, but the filing contains no commentary on the purpose of the sales.

Corporate Governance Expert

TL;DR: The filing documents a routine Section 16 disclosure of option exercise and related open-market sales; governance implications depend on context not provided.

Marguerite Gilliland is identified as an Executive Vice President and the Form 4 was filed by one reporting person. The filing documents the exercise/derivative relationship (conversion/exercise price $167.61, exercisability dates noted, expiration 03/05/2029) and contemporaneous sales at market prices. The form was signed by a named attorney under power of attorney, meeting procedural disclosure requirements. No additional governance or policy context (e.g., 10b5-1 plan confirmation) is stated in the provided content.

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gilliland Marguerite Amy

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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	08/08/2025		M		33,740	A	$167.61	78,932	D
Common Stock	08/08/2025		S		33,740	D	$315.201(1)	45,192	D
Common Stock								811.409(2)	I	401(k) Plan

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
Stock Options	$167.61	08/08/2025		M			33,740	(3)	03/05/2029	Common Stock	33,740	$0	0	D

Explanation of Responses:

1. Sale prices ranged from $314.91 to $315.53. Reporting Person will provide, upon request by the Commission staff, General Dynamics, or a General Dynamics shareholder, full information regarding the number of shares sold at each separate sales price.

2. Includes share activity under General Dynamics 401(k) plan since date of Reporting Person's last ownership report.

3. Fifty percent became exercisable on 03/06/2021, and the remaining fifty percent became exercisable on 03/06/2022.

	Nicholas R. Barnaby, by power of attorney	08/12/2025
	** 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 transactions did Marguerite Amy Gilliland report on Form 4 for GD?

The filing reports acquisition-related activity of 33,740 shares at a listed price of $167.61 and contemporaneous sales of 33,740 shares at an average of $315.201 on 08/08/2025.

How many shares did Gilliland own after the reported transactions?

The Form 4 shows 45,192 shares held directly following the reported sales and 811.409 shares indirectly through a General Dynamics 401(k) plan.

What sale prices are disclosed in the filing?

The explanation states sale prices ranged from $314.91 to $315.53, with an average sale price reported as $315.201.

Do the records show details about the exercised options?

Yes. The derivative section lists stock options with a conversion/exercise price of $167.61, 33,740 underlying shares, exercisability milestones (50% on 03/06/2021 and 50% on 03/06/2022), and an expiration date of 03/05/2029.

Who signed the Form 4 and when was it filed?

The form includes a signature by Nicholas R. Barnaby acting by power of attorney and is dated 08/12/2025 in the filing.