4/A: General Dynamics Vice President Mark Lagrand Burns Amends SEC Filing to Correct Stock and Option Grant Details

Mark Lagrand Burns, a Vice President at General Dynamics, filed an amendment to a previous SEC Form 4 to correct the number of shares and stock options granted on March 6, 2024.

Summary

• Mark Lagrand Burns, a Vice President of General Dynamics, filed an amended Form 4 with the SEC on April 5, 2024.
• This amendment corrects information reported in the original filing from March 7, 2024.
• The corrections pertain to the number of restricted stock shares and stock options granted to Burns on March 6, 2024.
• Burns acquired 3,605 shares of common stock on March 6, 2024, at a price of $0.00, bringing his total direct holdings to 76,221.154 shares.
• He also acquired 24,590 stock options on the same date with an exercise price of $274.51, expiring on March 5, 2034.
• Fifty percent of the options become exercisable on March 6, 2026, and the remaining fifty percent on March 6, 2027.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing correcting previously reported information. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings of company insiders.

Comparison to Industry Standards

• Executive compensation packages, including stock options and restricted stock, are standard practice among publicly traded companies like General Dynamics.
• Companies such as Lockheed Martin, Boeing, and Northrop Grumman also utilize similar equity-based compensation to align executive interests with shareholder value.
• The vesting schedules and exercise prices are generally in line with industry norms for long-term incentive plans.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.
• It ensures compliance with SEC regulations.

Key Dates