Berg Shane 4

What Happened

• Shane Berg, Senior Vice President of General Dynamics (GD), received equity awards on 2026-03-04: 1,964 shares (awarded), 1,805 shares (restricted stock), and 15,170 shares reported as derivative awards (PSUs). All awards show $0 purchase price because they are stock awards/PSU settlements. To satisfy tax withholding on the PSU release, 894 shares were withheld/disposed at $362.35 each, generating $323,941. These actions were reported on a Form 4 filed 2026-03-06.

Key Details

• Transaction date: 2026-03-04; Form 4 filed: 2026-03-06 (timely filing).
• Awards: 1,964 shares (grant), 1,805 shares (restricted stock), 15,170 PSUs/derivative units — all reported at $0 acquisition price.
• Withholding (tax): 894 shares disposed at $362.35 for $323,941 to satisfy tax obligations.
• Footnotes: F1 = PSUs initially granted in 2023, include additional units for achieved performance and dividend equivalents; settled in common stock with no further service vesting. F2 = shares withheld to satisfy tax withholding on PSU release. F3 = restricted stock subject to service-based vesting, released three years after grant. F4 = option exercisability schedule (50% 03/04/2028, 50% 03/04/2029).
• Shares owned after the transaction are not specified in the provided excerpt.

Context

• This was primarily an equity award/settlement (not an open-market purchase) and a routine tax-withholding sale to cover obligations on vested PSUs. Withholding of shares to satisfy taxes is common and should not be read as a typical investment sale. The PSUs were performance-based units settled in stock (per F1), while some awarded restricted shares remain subject to future service-based vesting (per F3).