Burns Mark Lagrand 4

What Happened

• Mark L. Burns, Executive Vice President of General Dynamics (GD), received a total of 38,385 shares on 2026-03-04 through awards/settlements of equity (14,200 + 3,305 + 20,880).
• On the same date, 6,354 shares were withheld (disposed) to satisfy tax withholding obligations at $362.35 per share, a total value of $2,302,372. The awards include performance stock units (PSUs) and restricted stock; the PSUs were settled in shares and include dividend equivalents.

Key Details

• Transaction date: 2026-03-04; Form 4 filed: 2026-03-06 (timely filing, two days after the transaction).
• Awarded shares: 14,200; 3,305; and 20,880 (total 38,385). Withheld/disposed shares for taxes: 6,354 at $362.35 ($2,302,372).
• Footnotes of note:
  • F1: Some shares are PSUs from a 2023 grant, which vested after performance criteria were met and will be settled in shares (includes dividend equivalents); no further service-based vesting required.
  • F3: The 6,354-share disposition reflects withholding of shares under the company equity plan to satisfy tax withholding on PSU release.
  • F4: Some awarded shares represent restricted stock subject to service-based vesting to be released three years after grant.
  • F2/F5: Filing includes a correction of a prior reporting math error and 401(k) share activity since the last report.
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context

• The 6,354-share action was a tax-withholding withholding (common when PSUs or restricted shares are settled) rather than an open-market sale; this is typically administrative and not a straightforward bearish signal.
• PSUs were settled following achievement of performance criteria; restricted stock will vest later per plan terms.