Form 4: Director Harry B. Harris Jr. Acquires L3Harris Technologies Shares Through Equity-Based Retainer

Harry B. Harris Jr., a director of L3Harris Technologies, acquired 924 shares of common stock through an equity-based retainer award.

Summary

• On April 19, 2024, Harry B. Harris Jr., a director of L3Harris Technologies, acquired 924 shares of common stock.
• These shares were awarded as part of the non-employee director's equity-based retainer.
• The director share units will generally vest on April 19, 2025, contingent upon continued service.
• Upon vesting, the units will be settled in shares of common stock following the reporting person's separation from service from the Issuer.
• Additionally, Mr. Harris acquired 20.05 shares through dividend reinvestment.
• Following the reported transaction, Mr. Harris beneficially owns 2,779.93 shares of L3Harris Technologies.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a routine transaction indicating director's continued involvement and alignment with the company's interests.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• Dividend reinvestment indicates a long-term investment strategy by the director.

Future Outlook

The director share units will vest on April 19, 2025, subject to continued service, and will be settled in shares of common stock upon the reporting person's separation from service from the Issuer.

Industry Context

Director share acquisitions are a common practice in publicly traded companies to align the interests of directors with those of shareholders. This filing is a routine disclosure required by the SEC.

Comparison to Industry Standards

• Director compensation packages often include equity-based awards to incentivize long-term performance.
• Companies like Lockheed Martin (LMT) and Boeing (BA) also utilize similar equity-based compensation for their directors.
• The vesting schedules and terms of these awards are generally comparable across the aerospace and defense industry.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder confidence.
• The director's continued service is required for the vesting of the share units.

Key Dates