[Form 4] General Dynamics Corporation Insider Trading Activity

Rhea-AI Filing Summary

Amendment No. 2 to Schedule 13G shows that Foundations Investment Advisors, LLC, an Arizona-based registered investment adviser, held 32,442 units of Innovator Equity Managed Floor ETF (CUSIP 45783Y806) on 30 Jun 2025, equal to 10.0 % of the outstanding class. The firm reports sole dispositive power over the entire position but zero voting power, filing under Rule 13d-1(b) applicable to investment advisers.

No other parties form a group and no subsidiary executed the purchase. Standard certifications are included and the document is signed by CCO Marc Pugsley on 29 Jul 2025. The filing signals that an institutional investor now holds a sizable, passive stake, potentially improving perceived support and liquidity for the ETF while concentrating ownership in a single adviser.

Positive

• Institutional support: A registered investment adviser now owns 10 % of the ETF, signalling professional investor confidence.

Negative

• Float concentration: One entity holding a tenth of outstanding shares may heighten liquidity risk if it redeems or reallocates capital.

Insights

Securities Analyst

TL;DR – A passive adviser declares a 10 % stake; limited market impact.

This 13G/A merely updates beneficial ownership. Foundations Investment Advisors controls disposal of 32,442 units but lacks voting rights, underscoring a passive stance. While 10 % ownership reflects institutional confidence and may enhance ETF credibility, the absence of voting power or activist language limits governance implications. Overall, the disclosure is informative yet non-catalytic for valuation.

Risk Analyst

TL;DR – Concentration risk rises as one adviser now holds 10 % of float.

A single investment adviser controlling a tenth of shares can tighten float and elevate liquidity risk if large redemptions occur. However, sole dispositive authority without voting power suggests client-directed ownership, mitigating governance concerns. No red flags on control intentions are present, so overall risk shift is modest.

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^*

Burns Mark Lagrand

(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)
07/25/2025

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	07/25/2025		M		32,560	A	$223.93	72,435.154	D
Common Stock	07/25/2025		S		7,715	D	$313.231(1)	64,720.154	D
Common Stock	07/25/2025		S		24,845	D	$314.173(2)	39,875.154	D
Common Stock	07/28/2025		M		43,860	A	$167.61	83,735.154	D
Common Stock	07/28/2025		S		19,793	D	$311.853(3)	63,942.154	D
Common Stock	07/28/2025		S		24,067	D	$312.623(4)	39,875.154	D
Common Stock								1,226.198(5)	I	401(k) Plan
Common Stock								33,670	I	By Trust

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	$223.93	07/25/2025		M			32,560	(6)	03/06/2028	Common Stock	32,560	$0	0	D
Stock Options	$167.61	07/28/2025		M			43,860	(7)	03/05/2029	Common Stock	43,860	$0	0	D

Explanation of Responses:

1. Sale prices ranged from $312.805 to $313.801. 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. Sale prices ranged from $313.805 to $314.67. 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.

3. Sale prices ranged from $311.16 to $312.155. 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.

4. Sale prices ranged from $312.16 to $313.115. 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.

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

6. Fifty percent became exercisable on 03/07/2020, and the remaining fifty percent became exercisable on 03/07/2021.

7. 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	07/29/2025
	** 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.
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FAQ

What percentage of Innovator Equity Managed Floor ETF (SFLR) does Foundations Investment Advisors own?

The filing reports 10.0 % beneficial ownership, equal to 32,442 units.

Does Foundations Investment Advisors have voting power over the shares?

No. The adviser reports zero voting power; it only holds sole dispositive power.

Why was this Schedule 13G/A filed?

Crossing the 5 % ownership threshold requires disclosure; this amendment updates holdings as of 30 Jun 2025.

Is the stake considered passive or activist?

The filing under Rule 13d-1(b) and lack of voting power indicate a passive investment posture.

Who signed the Schedule 13G/A?

Chief Compliance Officer Marc Pugsley signed on 29 Jul 2025 on behalf of Foundations Investment Advisors.