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

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

Summary

• On January 2, 2025, Kenneth L. Bedingfield, the SVP and CFO of L3Harris Technologies, acquired 17.92 phantom stock units under the company's Excess Retirement Savings Plan.
• These phantom stock units are the economic equivalent of one share of L3Harris Technologies common stock.
• The units were accrued under the Issuer's Excess Retirement Savings Plan and 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.
• Following the reported transaction, Bedingfield beneficially owns 40.8 phantom stock units, which includes 0.11 phantom stock units acquired through dividend credits under the Plan since last reported.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, indicating a stable and expected aspect of the company's operations. The sentiment is neutral to slightly positive as it reflects standard corporate governance.

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 performance.

Future Outlook

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

Industry Context

Executive compensation packages often include stock-based awards to incentivize performance and align management interests with shareholders. Phantom stock units are a common tool for this purpose.

Stakeholder Impact

• The acquisition of phantom stock units aligns the CFO's interests with shareholders, potentially encouraging decisions that benefit the company's stock performance.

Key Dates