Nye C Howard, chairman, president, and CEO of both General Dynamics (GD) and Martin Marietta Materials (MLM), has filed 37 Form 4 transactions across the two companies, with a clear pattern of compensation-driven activity rather than discretionary trading. His filings show zero open-market purchases and zero open-market sales, meaning every transaction falls into mechanical categories: equity grants (code A), shares withheld to cover tax obligations (code F), and option exercises or conversions. The total value of shares sold or disposed of reached approximately $12.1 million, while acquired shares totaled roughly $3.7 million, a gap explained by the fact that most “sales” are automatic withholdings tied to vesting events, not market-timed decisions.
The most recent activity, spanning late 2025 through mid-2026, centers on recurring quarterly equity awards at GD, with small grant values between roughly $18,700 and $31,200 on dates like March 17, 2026, and June 16, 2026. At MLM, the filings cluster around February, coinciding with annual vesting schedules: on February 17, 2026, Howard received a grant valued at over $1.2 million while simultaneously having $6.48 million in shares withheld for taxes, and similar large F-code dispositions occurred on February 23 and February 24, 2026, totaling roughly $2.1 million. The pattern repeats in February 2025, with a $6.14 million tax withholding on February 18 and a $997,000 withholding on February 24, alongside a $832,724 grant.
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