Form 4: L3Harris Director Defers Compensation into Phantom Stock

L3Harris Technologies Director Robert B. Millard acquired 124.8 phantom stock units by deferring quarterly cash retainer, increasing his beneficial ownership.

Summary

• Robert B. Millard, a Director of L3HARRIS TECHNOLOGIES, INC. (LHX), acquired 124.8 phantom stock units on October 1, 2025.
• The acquisition price for these units was $300.47 per unit.
• These units were credited under the L3Harris Technologies, Inc. 2019 Non-Employee Director Compensation Plan as a result of Mr. Millard's election to defer a portion of his quarterly cash retainer.
• Phantom stock units are subject to settlement solely in shares of the Issuer's common stock upon Mr. Millard's separation from service with the Issuer.
• The reported transaction also includes 43.80 phantom stock units acquired through dividend credits under the Plan.
• Following this transaction, Mr. Millard directly beneficially owns 10,965.04 phantom stock units.
• Additionally, he indirectly beneficially owns 209,428 shares of common stock through a grantor retained annuity trust and 14,943 shares of common stock through a family trust.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. It's a routine compensation deferral, not a direct purchase, but shows continued director alignment and commitment to the company's equity.

Positives

• Director Robert B. Millard continues to increase his beneficial ownership in L3Harris Technologies through the deferral of compensation into phantom stock units, aligning his interests with shareholders.
• The acquisition of 43.80 phantom stock units through dividend credits indicates ongoing value accrual from existing holdings.

Future Outlook

The filing indicates a director's continued participation in the company's long-term incentive plan, with phantom stock units settling in common stock upon separation from service, aligning future interests with company performance.

Industry Context

This transaction is a routine insider filing, common for directors who elect to defer compensation into equity-based plans, demonstrating continued alignment with shareholder interests. It does not reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: Increased alignment of a director's financial interests with long-term shareholder value through equity ownership.
• Employees: No direct impact on employees mentioned in this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders mentioned in this filing.

Next Steps

• Phantom stock units will be settled solely in shares of L3Harris Technologies common stock upon Robert B. Millard's separation from service with the Issuer.

Key Dates

Recommendation

This Form 4 filing details a routine compensation deferral by a director into phantom stock units, which is a standard practice and indicates continued alignment of interests. It does not provide new material information that would warrant a change in investment recommendation, thus a 'hold' stance is maintained based solely on this filing.

Keywords

L3Harris Technologies, LHX, Robert B. Millard, Director Compensation, Phantom Stock, Insider Transaction, SEC Form 4, Equity Deferral, Dividend Reinvestment