Form 4: Director Harry B. Harris Jr. Receives L3Harris Equity Grant
Statement of Changes in Beneficial Ownership
Director Harry B. Harris Jr. was granted 661 director share units as part of his annual equity-based retainer for L3Harris Technologies.
Summary
- Director Harry B. Harris 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 deferred and settled in common stock upon the director's separation from service.
- The reporting person's total beneficial ownership increased to 4,411.6 shares, including 46.07 phantom stock units from dividend credits.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation with no impact on company operations or financial health.
Positives
- Alignment of director interests with long-term shareholder value through equity-based compensation.
- Standardized director compensation practice consistent with corporate governance best practices.
Negatives
- None identified.
Risks
- Vesting is subject to continued service, creating a dependency on the director's ongoing tenure.
Future Outlook
The director share units are scheduled to vest on May 11, 2027, with settlement deferred until the director's separation from service.
Management Comments
- The transaction represents an award of director share units in respect of the non-employee director's equity-based retainer.
Industry Context
StockSavvy.ai notes that this is a routine disclosure of director compensation within the aerospace and defense sector, reflecting standard corporate governance practices for board members.
Comparison to Industry Standards
- The use of deferred share units for non-employee directors is a standard practice among S&P 500 companies to ensure long-term alignment.
- The grant size and structure are consistent with typical compensation packages for directors at large-cap defense contractors like Lockheed Martin or Northrop Grumman.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Director Compensation | Grant of equity-based retainer units to a non-employee director. | 05/11/2026 | Standard alignment of director incentives. |
Stakeholder Impact
- Minimal impact on shareholders; reflects standard board compensation.
Next Steps
- Vesting of the 661 share units on May 11, 2027.
Key Dates
| Date | Description |
|---|---|
| 04/2025 | Date of Power of Attorney execution. |
| 05/11/2026 | Transaction date of equity grant. |
| 05/12/2026 | Filing date of the Form 4. |
| 05/11/2027 | Vesting date of the granted share units. |
Keywords
L3Harris Technologies, LHX, Director Compensation, Equity Grant, Insider Transaction, Form 4
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