Rayha Mark 4

What Happened

• Rayha Mark, Vice President of General Dynamics (GD), exercised stock options for 6,480 shares on Feb 13, 2026, at an exercise price of $135.85 per share (total exercise cost ≈ $880,308). On the same date Mark sold 4,370 shares in an open-market transaction at an average price of about $348.79 per share (gross proceeds ≈ $1,524,195). The Form 4 also reports a disposition of 6,480 derivative shares at $0 (see notes).

Key Details

• Transaction date: 2026-02-13 (reported on Form 4 filed 2026-02-17).
• Option exercise: 6,480 shares exercised at $135.85 (acquisition cost ≈ $880,308).
• Open-market sale: 4,370 shares sold at prices ranging $348.78–$348.88 (total ≈ $1,524,195). Footnote: seller will provide a breakdown of how many shares sold at each price upon request.
• Derivative disposition: 6,480 shares reported disposed at $0 (likely related to option settlement/withholding; footnotes explain vesting history).
• Vesting info (F3): these options were vested earlier — 50% exercisable 03/02/2018 and remaining 50% 03/02/2019.
• Additional note (F1): the filing includes share activity under General Dynamics’ 401(k) plan since the last ownership report.
• Filing timeliness: Form 4 was filed Feb 17 for a Feb 13 transaction (filed 4 days later); Form 4s are generally due within 2 business days, so this appears to be late.

Context

• This looks like an option exercise with partial immediate sale (a common cashless-exercise or sell-to-cover pattern): options were exercised, some shares were sold in the open market, and an equal number of derivative shares were reported disposed at $0 (often used to satisfy tax withholding or broker settlement). The filing does not provide the insider’s total shares owned after these transactions in the excerpt provided.
• Sales by executives are often routine (taxes, diversification, option exercises) and are not, by themselves, proof of company outlook.