General Dynamics Reports Officer Compensation, Board Changes
Ticker: GD · Form: 8-K · Filed: Jan 5, 2024 · CIK: 40533
| Field | Detail |
|---|---|
| Company | General Dynamics Corp (GD) |
| Form Type | 8-K |
| Filed Date | Jan 5, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: compensatory-arrangements, board-changes, corporate-governance
TL;DR
**General Dynamics just updated executive pay and board info, watch for strategic shifts.**
AI Summary
General Dynamics Corporation filed an 8-K on January 5, 2024, reporting changes in compensatory arrangements for certain officers and the departure or election of directors. This filing indicates potential shifts in executive compensation structures and board composition, which could influence future strategic decisions and financial performance. Investors should monitor these changes as they may reflect evolving governance and incentive alignment within the company, impacting long-term shareholder value.
Why It Matters
Changes in executive compensation and board composition can signal shifts in company strategy and governance, directly influencing investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing is routine for reporting changes in governance and compensation, not indicating immediate financial distress or major operational risks.
Analyst Insight
Investors should review the full details of the compensatory arrangements and board changes once available to understand their potential impact on company strategy and executive incentives.
Key Players & Entities
- GENERAL DYNAMICS CORP (company) — the registrant filing the 8-K
- January 5, 2024 (date) — date of earliest event reported and filing date
- Delaware (company) — state of incorporation for General Dynamics Corporation
- 1-3671 (dollar_amount) — Commission File Number for General Dynamics Corporation
- 13-1673581 (dollar_amount) — IRS Employer Identification No. for General Dynamics Corporation
- 11011 Sunset Hills Road, Reston, Virginia 20190 (company) — address of Principal Executive Offices for General Dynamics Corporation
- (703) 876-3000 (dollar_amount) — Registrant’s Telephone Number for General Dynamics Corporation
FAQ
What is the specific date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 5, 2024, which is also the date of the report.
What are the primary items of information disclosed in this 8-K filing by General Dynamics Corporation?
The primary items of information disclosed are 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.
What is the state of incorporation for General Dynamics Corporation, as stated in the filing?
General Dynamics Corporation is incorporated in Delaware.
What is the business address of General Dynamics Corporation according to this filing?
The business address of General Dynamics Corporation is 11011 Sunset Hills Road, Reston, Virginia 20190.
Is General Dynamics Corporation identified as an 'emerging growth company' in this 8-K filing?
No, the filing indicates with a checkbox that General Dynamics Corporation is not an 'emerging growth company'.
Filing Stats: 611 words · 2 min read · ~2 pages · Grade level 13.7 · Accepted 2024-01-05 13:38:59
Filing Documents
- d694977d8k.htm (8-K) — 26KB
- d694977dex991.htm (EX-99.1) — 7KB
- g694977g15s53.jpg (GRAPHIC) — 7KB
- g694977g78o55.jpg (GRAPHIC) — 6KB
- 0001193125-24-003197.txt ( ) — 176KB
- gd-20240105.xsd (EX-101.SCH) — 3KB
- gd-20240105_lab.xml (EX-101.LAB) — 17KB
- gd-20240105_pre.xml (EX-101.PRE) — 11KB
- d694977d8k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 5, 2024, General Dynamics Corporation (the "company") issued a press release announcing: Mark C. Roualet, Executive Vice President, Combat Systems, informed the company of his intent to retire on April 30, 2024; Jason W. Aiken, currently Executive Vice President, Technologies, and Chief Financial Officer, will transition to Executive Vice President, Technologies, effective February 15, 2024; and Kimberly A. Kuryea, currently Senior Vice President, Human Resources and Administration, will transition to Senior Vice President and Chief Financial Officer, effective February 15, 2024. Compensation for Mr. Aiken and Ms. Kuryea in their new roles will be pursuant to the compensation program disclosed in the company's proxy statement for the 2023 annual meeting of shareholders, filed with the Securities and Exchange Commission on March 24, 2023, beginning on page 54. Elements will include a fixed base salary, annual incentive compensation, and long-term incentive compensation, which includes equity compensation. Consistent with the process described in the proxy statement, compensation and incentive amounts will be set during our annual compensation review process, with the intent that the compensation will be positioned competitively based on the role, executive experience, and other relevant market factors. A copy of a press release issued by the company regarding these matters is attached as Exhibit 99.1 to this Form 8-K and incorporated herein.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GENERAL DYNAMICS CORPORATION By: /s/ Gregory S. Gallopoulos Gregory S. Gallopoulos Senior Vice President, General Counsel and Secretary (Authorized Officer) Dated: January 5, 2024