Director Robert K. Steel Exercises Options and Sells $2.57M in General Dynamics (NYSE: GD)

Transaction Summary

On September 23, 2026, General Dynamics Corp ($GD) Director Robert K. Steel completed a series of stock option exercises and immediate open-market sales totaling 7,440 shares of common stock, generating gross proceeds of approximately $2.57 million.

Transaction Breakdown

• Tranche 1: Exercised 2,770 stock options at an exercise price of $168.56 (expiring March 2, 2031) and sold 2,770 shares at an average price of $346.081 per share.
• Tranche 2: Exercised 2,190 stock options at an exercise price of $232.90 (expiring March 1, 2032) and sold 2,190 shares at an average price of $346.119 per share.
• Tranche 3: Exercised 1,780 stock options at an exercise price of $227.58 (expiring March 7, 2033) and sold 1,780 shares at a weighted-average price of $346.01 per share.
• Tranche 4: Exercised 700 stock options at an exercise price of $274.51 (expiring March 5, 2034) and sold 700 shares at an average price of $345.824 per share.

Impact on Ownership & Significance

• Net Share Holding Change: Robert K. Steel entered and exited the transactions holding 3,096 direct shares of common stock, leaving his baseline direct equity ownership unchanged.
• Significance Evaluation: Low. The activity represents a standard "exercise-and-sell" pattern typical for director equity compensation management, where vested options are monetized without divesting from previously acquired base holdings.