General Dynamics (GD) EVP Marguerite Gilliland Exercises Options & Sells Shares

What Happened
Marguerite Amy Gilliland, Executive Vice President of General Dynamics (GD), exercised 43,180 stock options (reported as "M") on 2026-07-31 at a $165.47 strike, costing $7,144,995. The same 43,180 shares were then sold in two open-market transactions the same day: 16,970 shares reported at $377.44 and 26,210 shares reported at $378.42, generating total gross sale proceeds of $16,323,658. The filing shows the derivative position converted/disposed (reported at $0), consistent with exercising options and selling the resulting shares (a cashless-style transaction).

Key Details

• Transaction date: 2026-07-31; Form 4 filed 2026-08-04 (filing appears within the required two business days).
• Options exercised: 43,180 shares at $165.47 each = $7,144,995 total exercise cost.
• Shares sold: 43,180 total (16,970 + 26,210) for $16,323,658 total proceeds. Reported per-share sale amounts were ~$377.44 and ~$378.42; footnotes give narrower sale-price ranges (F1: $376.825–$377.735; F2: $377.845–$378.70).
• Net proceeds (gross sales minus exercise cost) roughly $9.18M (simple arithmetic of reported values).
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Notable footnotes: F3 notes inclusion of 401(k) plan activity since the last report; F4 notes the options vested in two tranches (50% vested 03/04/2022, remaining 50% vested 03/04/2023). F1/F2 provide per-price sale ranges and state the reporter will provide per-price breakdowns on request.

Context

• This pattern (exercise of vested options followed by immediate sale of the resulting shares) is commonly reported as a cashless exercise or as transactions to monetize vested equity; the Form 4 shows the options were exercised and the shares sold the same day.
• The filing is from an executive (not a 10% owner or institutional holder), so this is insider executive activity rather than institutional trading.
• The filing provides ranges for sale prices—contact the SEC staff or company if you need the per-lot sale price breakdown.