Form 4: L3Harris Technologies CFO Bedingfield Reports Phantom Stock Unit Acquisition

Kenneth L. Bedingfield, CFO of L3Harris Technologies, reports the acquisition of phantom stock units under the company's Excess Retirement Savings Plan.

Summary

• On July 1, 2024, Kenneth L. Bedingfield, the SVP and Chief Financial Officer of L3Harris Technologies, acquired 11.15 phantom stock units.
• These units were accrued under the Issuer's Excess Retirement Savings Plan.
• Each phantom stock unit is the economic equivalent of one share of L3Harris Technologies' common stock.
• The phantom stock units are to be settled in cash upon the reporting person's retirement or other events.
• Prior to cash settlement, the reporting person has the right to transfer phantom stock units into alternative investment accounts in the Plan.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices. The sentiment is neutral to slightly positive as it reflects alignment of executive interests with company performance.

Positives

• The acquisition of phantom stock units aligns the CFO's interests with the company's performance.
• The Excess Retirement Savings Plan provides a mechanism for executives to accumulate wealth tied to the company's stock.

Future Outlook

The phantom stock units will be settled in cash upon the reporting person's retirement or other events.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates participation in a retirement savings plan, which is a common practice among publicly traded companies to incentivize and retain key executives.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock units as a way to align executive interests with shareholder value.
• Companies like Lockheed Martin, Boeing, and RTX also utilize similar deferred compensation plans for their executives.
• The specific terms and conditions of these plans can vary, but the underlying principle of linking executive compensation to company performance remains consistent.

Stakeholder Impact

• The acquisition of phantom stock units by the CFO aligns his interests with those of shareholders, potentially encouraging decisions that increase shareholder value.

Key Dates