NOVAKOVIC PHEBE N 4

What Happened

• Phebe N. Novakovic, Chairman and CEO (also a director) of General Dynamics, had 6,143 shares withheld to satisfy tax withholding obligations tied to the release of restricted shares. The withholding was recorded as a disposition at $359.79 per share, equal to approximately $2,210,190.
• This was a tax-withholding/share-for-tax transaction (code F), not an open-market sale — a routine administrative action when restricted stock vests or is released.

Key Details

• Transaction date (period of report): 2026-03-09; Form 4 filed: 2026-03-11.
• Price per share: $359.79; shares withheld/disposed: 6,143; total value ~ $2,210,190.
• Shares owned after the transaction: not specified in the information provided.
• Relevant footnotes from the filing:
  • F1: Withholding of shares to satisfy tax withholding in connection with release of restricted shares.
  • F2: Includes share activity under the General Dynamics 401(k) plan since the reporting person's last report.
  • F3: Some shares are held by an LLC managed by the reporting person for the benefit of her children.
• Transaction code: F (tax withholding / payment of tax liability).

Context

• Withholding shares to cover taxes on released restricted stock is common and administrative; it reduces the number of shares delivered to the insider rather than representing a market sell driven by personal liquidity needs.
• Such disposals are typically routine and don’t necessarily signal the insider’s view on the company’s prospects. Purchases or open-market sales usually carry more direct interpretive weight for investors.