General Dynamics (GD) Director Peter Wall Exercises Options, Sells 1,990 Shares

What Happened

• Peter A. Wall, a director of General Dynamics (GD), exercised 1,990 stock options and sold 1,990 shares on August 10, 2026.
• Exercise: 1,990 shares at $223.93 per share (cost = $445,621). Sale: 1,990 shares at $396.43 per share (gross proceeds = $788,898). The transactions yield a pre-tax spread of roughly $343,277 (sale proceeds minus exercise cost).
• The filing also reports a derivative disposition of 1,990 shares at $0.00 (see Key Details). This sequence is consistent with a cashless exercise and immediate sale of the vested options—common when insiders convert options to cash.

Key Details

• Transaction date: 2026-08-10; Form 4 filed: 2026-08-12 (filed two days after the transactions).
• Exercise detail (code M): 1,990 shares @ $223.93 (acquired) = $445,621.
• Sale detail (code S): 1,990 shares @ $396.43 (disposed) = $788,898.
• Derivative disposition: 1,990 shares @ $0.00 (disposed) — likely reflects shares surrendered for tax withholding or similar settlement related to the exercise.
• Footnote F1: Options vested earlier — 50% became exercisable on 03/07/2020 and the remaining 50% on 03/07/2021.
• Shares owned after the transactions are not stated in the provided summary of the filing.

Context

• This appears to be a cashless exercise (exercise of vested options followed by immediate open‑market sale). That process converts option value to cash and is routine for insiders exercising vested awards.
• The filing shows a director (not a 10% owner); the reported sale does not by itself indicate the director’s view on the company’s prospects. It’s a disclosure of a compensation-related liquidity event.