General Dynamics (GD) President Deep Danny Exercises Options, Sells Shares

What Happened

• Deep Danny, President and Director of General Dynamics (GD), exercised stock options on 2026-08-14 totaling 33,600 underlying shares (two tranches) and paid the exercise cost of $5,578,046. To cover taxes/withholding, he surrendered 22,903 shares (cashless/withholding) with reported values totaling $9,048,087. After the transactions, he retained a net of 10,697 shares from the exercises.

Key Details

• Transaction date: 2026-08-14; Form 4 filed: 2026-08-17 (filing marked late).
• Exercises: 8,530 shares at $167.61 (value $1,429,713) and 25,070 shares at $165.47 (value $4,148,333).
• Withholding/dispositions: 5,833 shares at $395.05 (value $2,304,327) and 17,070 shares at $395.06 (value $6,743,760).
• Net shares retained from these exercises: 33,600 exercised − 22,903 withheld = 10,697 shares.
• Footnotes: F1 — first tranche vested 50% on 03/06/2021 and 50% on 03/06/2022. F2 — second tranche vested 50% on 03/04/2022 and 50% on 03/04/2023.
• Filing timeliness: Reported as late (transactionTimeliness = 'L'), meaning the Form 4 was not filed within the standard SEC window.

Context

• This was an option exercise with a cashless/tax-withholding settlement: options were converted to shares and a portion surrendered to cover tax liabilities (typical for executive option exercises). The net result is an increase in the insider’s shareholdings by 10,697 shares. The filing does not state the insider's total post-transaction holdings; only the net change is reported here.