NOVAKOVIC PHEBE N 4

What Happened

• Phebe Novakovic, Chairman, CEO and a director of General Dynamics (GD), sold a total of 32,918 shares in two reported transactions on March 11, 2026, generating roughly $11.66 million in proceeds. The filing lists:
  • 9,907 shares disposed at $353.75 each (proceeds $3,504,552)
  • 23,011 shares disposed at $354.24 each (proceeds $8,151,509)
• These transactions are sales (S) — generally routine insider selling rather than a purchase signal.

Key Details

• Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (filed within the normal two-business-day window).
• Reported per-line prices above; filing footnotes state sale prices actually ranged:
  • F1: $352.96 to $353.955 for the first group
  • F2: $353.965 to $354.505 for the second group The reporting person will provide full per-price breakdown upon request.
• Shares owned after transaction: not stated in the provided summary — see the full Form 4 for post-transaction holdings.
• Other footnotes:
  • F3: includes activity under the General Dynamics 401(k) plan since the last ownership report.
  • F4: some shares are held by an LLC managed by the reporting person for trusts benefiting her children.

Context

• These were outright sales (open market/private sale code S). Sales by executives can be routine (diversification, tax planning, estate planning) and do not alone indicate management’s view of the company’s prospects. The filing does not indicate a 10b5‑1 trading plan or an option exercise.