Form 4: Director Edward A. Rice Jr. Receives L3Harris Equity Grant
Statement of Changes in Beneficial Ownership
Director Edward A. Rice Jr. was granted 661 share units as part of his annual non-employee director equity retainer.
Summary
- Director Edward A. Rice Jr. acquired 661 director share units on May 11, 2026.
- The units were granted as part of the non-employee director's equity-based retainer.
- The units vest on May 11, 2027, subject to continued service.
- Upon vesting, the units will be settled in common stock upon the director's separation from service.
- The director's total beneficial ownership increased to 3,516.79 shares, including 31.12 phantom stock units from dividend credits.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which carries no significant market sentiment impact.
Positives
- Alignment of director interests with long-term shareholder value through equity-based compensation.
- Transparent disclosure of director compensation and holdings.
Negatives
- None identified.
Risks
- Vesting is subject to the director's continued service with the company.
Future Outlook
The director share units are scheduled to vest on May 11, 2027, contingent upon continued service.
Industry Context
StockSavvy.ai notes that equity-based retainers for non-employee directors are standard practice in the aerospace and defense industry to ensure board members maintain a vested interest in company performance.
Comparison to Industry Standards
- The use of deferred share units for directors is consistent with governance practices at major defense contractors like Lockheed Martin and Northrop Grumman.
- The structure of the grant aligns with standard SEC Section 16 reporting requirements for public company directors.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney | Filing of a Power of Attorney authorizing specific individuals to execute Section 16 filings on behalf of the director. | 04/17/2025 | Standard administrative procedure to ensure timely regulatory compliance. |
Stakeholder Impact
- Minimal impact on shareholders as this is a standard compensation event.
Next Steps
- Vesting of the 661 share units on May 11, 2027.
Key Dates
| Date | Description |
|---|---|
| 04/17/2025 | Date of Power of Attorney signature. |
| 05/11/2026 | Date of transaction and grant. |
| 05/11/2027 | Expected vesting date of the share units. |
Keywords
L3Harris Technologies, LHX, Director Compensation, Form 4, Equity Grant, Insider Ownership
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