Form 4: L3Harris Director Sallie Bailey Receives Equity Grant
Statement of Changes in Beneficial Ownership
Director Sallie B. Bailey acquired 661 shares of L3Harris Technologies common stock as part of an equity-based retainer.
Summary
- Director Sallie B. Bailey was granted 661 director share units on May 11, 2026.
- The grant represents the non-employee director's equity-based retainer.
- The units are scheduled to vest on May 11, 2027, contingent upon continued service.
- Following this transaction, the director's total beneficial ownership increased to 7,356.86 shares.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which is neutral in nature.
Positives
- Alignment of director interests with shareholders through equity-based compensation.
- Increase in total beneficial ownership by the director.
Negatives
- None identified.
Risks
- Vesting of the share units is subject to the director's continued service with the company.
Future Outlook
The director share units are expected to vest on May 11, 2027, provided the director remains in service.
Industry Context
StockSavvy.ai notes that equity-based retainers for non-employee directors are standard corporate governance practice in the aerospace and defense sector to ensure long-term alignment with shareholder value.
Comparison to Industry Standards
- The use of deferred share units for director compensation is consistent with practices at major defense contractors like Lockheed Martin and Northrop Grumman.
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. | 04/01/2025 | 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 |
|---|---|
| 04/01/2025 | Date of Power of Attorney execution. |
| 05/11/2026 | Date of the equity grant transaction. |
| 05/12/2026 | Date of filing. |
| 05/11/2027 | Expected vesting date of the share units. |
Keywords
L3Harris Technologies, LHX, Director Compensation, Equity Grant, Insider Ownership, SEC Form 4
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