Smith Robert Edward 4

What Happened

• Robert Edward Smith, Executive Vice President of General Dynamics (GD), received equity awards on 2026-03-04, and 4,994 shares were withheld to satisfy tax withholding obligations. Grant activity in the filing:
  • 11,063 shares acquired as awards (no cash paid; $0.00 per share) — PSUs tied to 2023 grant performance (see footnote F1).
  • 2,755 shares acquired as restricted stock subject to service-based vesting (no cash paid; $0.00 per share) (F3).
  • 17,410 derivative shares granted (no cash paid; $0.00 per share) — subject to vesting/exercise schedule (F5).
  • 4,994 shares were disposed (withheld) at $362.35 per share to satisfy tax withholding = $1,809,576 (F2).

Key Details

• Transaction date: 2026-03-04. Form filed: 2026-03-06 (appears timely).
• Withheld shares value: 4,994 shares × $362.35 = $1,809,576 (tax withholding, not an open-market sale).
• Awards: PSUs (F1) include additional units for achieved performance and accrued dividend equivalents; settled in shares with no further service vesting required. Restricted stock will be released after three years (F3). Derivative award vesting: 50% on 03/04/2028 and 50% on 03/04/2029 (F5).
• Shares owned after the transaction are not shown in the provided excerpt — see the full Form 4 for total post-transaction holdings.
• Filing notes: F2 documents the withholding of shares to satisfy tax obligations on PSU release. No indication the filing was late.

Context

• This was award/grant activity plus tax withholding — routine compensation-related equity issuance and withholding rather than an open-market purchase or discretionary sale. PSUs were earned under prior performance (2023 grant) and are being settled in shares; withheld shares represent a cashless method to cover tax obligations.