Malcolm Mark 4

What Happened
Malcolm Mark, a director of General Dynamics (GD), exercised vested stock options to acquire a total of 5,480 shares and then sold those shares in the open market on 2026-06-17. He exercised 2,270 shares at $191.71 (cost $435,182) and sold those 2,270 shares at $365.00 for $828,550. He also exercised 3,210 shares at $165.47 (cost $531,159) and sold those 3,210 shares at $365.00 for $1,171,650. Total exercise cost was $966,341 and total gross sale proceeds were $2,000,200, for approximate net proceeds of $1,033,859 before taxes and fees.

Key Details

• Transaction date: 2026-06-17 (reported on Form 4 filed 2026-06-22 — filing appears late relative to the 2-business-day rule).
• Exercise details: 2,270 shares @ $191.71; 3,210 shares @ $165.47.
• Sale details: 2,270 shares @ $365.00 (proceeds $828,550); 3,210 shares @ $365.00 (proceeds $1,171,650).
• Derivative entries showing $0 disposals reflect the options being converted/exercised.
• Shares owned after the transactions: not specified in the provided filing.
• Footnotes: F1 and F2 indicate the option tranches were vested (50% vested 03/01/2019 and 03/01/2020 for one grant; 50% vested 03/04/2022 and 03/04/2023 for the other).

Context
This was an option exercise followed by immediate sales (a cashless-style outcome): the options were converted to shares and those shares were sold the same day. Such transactions are common for executives and directors when managing option exercises and tax liabilities; they do not by themselves indicate the insider’s long-term view of the stock. The filing date (June 22) is several business days after the trade date (June 17), so the Form 4 appears to have been filed late.