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    Phebe N. Novakovic

    Chairman and CEO at General Dynamics Corp
    Board
    Since January 1, 2013
    Age
    65 years
    Tenure
    Began career at GD in 2002 as Vice President of Strategic Planning, advanced through roles including Senior Vice President, Executive Vice President, and President and Chief Operating Officer, and assumed the role of Chairman and Chief Executive Officer in January 2013.

    Also at General Dynamics Corp

    DD
    Danny Deep
    Executive Vice President, Combat Systems
    GSG
    Gregory S. Gallopoulos
    Senior Vice President, General Counsel, and Secretary
    JWA
    Jason W. Aiken
    Executive Vice President, Technologies

    About

    Phebe N. Novakovic was born in 1957 and is recognized as a seasoned leader in the defense and aerospace sectors. Her personal background reflects decades of experience and dedication, although specific details regarding her early education remain undisclosed.

    She began her career at General Dynamics in 2002 as Vice President of Strategic Planning. Over the years, she progressed through various leadership roles, including Senior Vice President, Executive Vice President, and President and Chief Operating Officer, which set the stage for her eventual appointment as Chairman and Chief Executive Officer in January 2013.

    In her current role, she has been instrumental in driving strategic growth and operational excellence at GD. Her tenure is marked by significant contract wins and an unwavering focus on innovation and efficiency, while also serving on corporate boards and contributing to broader industry insights.

    $GD Performance Under Phebe N. Novakovic

    Past Roles

    OrganizationRoleDate RangeDetails
    Abbott LaboratoriesDirectorN/A Previously served as a director within the past five years
    General DynamicsPresident and Chief Operating OfficerMay 2012 - December 2012 Held prior to becoming Chairman and CEO in January 2013
    General DynamicsExecutive Vice President, Marine SystemsMay 2010 - May 2012 Held prior to becoming Chairman and CEO in January 2013
    General DynamicsSenior Vice President, Planning and DevelopmentJuly 2005 - May 2010 Held prior to becoming Chairman and CEO in January 2013
    General DynamicsVice President, Strategic PlanningOctober 2002 - July 2005 Held prior to becoming Chairman and CEO in January 2013

    External Roles

    OrganizationRoleDate Range
    J.P. Morgan Chase & Co.DirectorN/A

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,700,000 AnnuallyFixed base compensation
    All Other Compensation$699,783 AnnuallyIncludes $34,000 for Registrant Contributions to Nonqualified Deferred Compensation Plan ; other components not detailed

    Performance Compensation

    Data from  FY 2023

    Annual Incentive Plan (AIP)

    MetricValueDetails
    Base Salary$1,700,000 Used as the basis for incentive calculations
    Target Incentive (% of Base)185% Target incentive relative to base salary
    Target Incentive Amount$3,145,000 Calculated as 185% of base salary
    Maximum Incentive (% of Target)200% Maximum payout multiplier
    Overall Achievement136.3% Actual achievement relative to target
    Annual Incentive Payout$4,287,000 Paid in the subsequent year (2024) based on 2023 performance
    Performance MetricsN/AIncludes Diluted EPS, Free Cash Flow, Operating Margin, and Strategic & Operational Goals

    Long-Term Incentive Plan (LTI)

    Performance Stock Units (PSUs)

    MetricValueDetails
    Performance MetricROIC over 2023-2025 Primary metric subject to performance over a three-year period, with an rTSR modifier applied
    Threshold Payout33% of PSUs awarded Minimum performance required to earn any PSUs
    Target Payout100% of PSUs awarded Expected PSU award on meeting performance objectives
    Maximum Payout200% of PSUs awarded Cap at double the target if maximum ROIC achieved with rTSR modifier adjustments
    Vesting ScheduleCliff-vest at end of 2025 PSUs vest after the three-year performance period (2023-2025)
    Grant DateMarch 8, 2023 Specific grant date for the PSU awards
    Grant Date Fair Value$11,246,277 Fair value determined based on the target payout
    Grant Date Stock Price$227.06 Closing price on the grant date

    Restricted Stock Awards

    MetricValueDetails
    Award13,620 shares Restricted stock granted to the executive
    Vesting ScheduleCliff-vest after 3 years Vesting occurs at the end of the performance period, subject to continuous service

    Option Awards

    MetricValueDetails
    Grant DateMarch 8, 2023 Date on which option awards were granted
    Grant Date Fair Value$4,649,716 Fair value assigned at grant
    Exercise/Base Price$227.58 Average of high and low prices on the grant date
    Vesting ScheduleNot specifiedNo detailed vesting schedule provided; accelerated vesting on death or total and permanent disability
    Performance MetricsNot specifically providedOptions follow equity incentive guidelines; detailed performance measures are not provided

    Note: The AIP and LTI components together form the performance compensation for 2023. While precise weights for each performance metric are not disclosed, the payout outcomes are documented. Option awards lack specific performance metric details.