Form 4: L3Harris Technologies Director Christina L. Zamarro Reports Phantom Stock Unit Acquisition

Director Christina L. Zamarro reports acquisition of phantom stock units in L3Harris Technologies through a deferred compensation plan.

Summary

• Christina L. Zamarro, a director of L3Harris Technologies, reported a transaction on July 1, 2024.
• The transaction involved the acquisition of 168.95 phantom stock units under the company's 2019 Non-Employee Director Deferred Compensation Plan.
• These units were credited as part of a prior election to defer a portion of the director's quarterly cash retainer.
• The price per unit was $221.96.
• Zamarro now beneficially owns 3,426.78 shares of common stock, including 14.08 phantom stock units acquired through dividend credits since the last report.
• The phantom stock units are subject to settlement solely in shares of L3Harris Technologies common stock upon Zamarro's separation from service with the company.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, indicating alignment of interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan allows directors to accumulate company stock over time.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to director compensation and stock ownership, common among publicly traded companies. It reflects standard practices for aligning director incentives with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans for non-employee directors are a common practice among publicly traded companies, including those in the aerospace and defense industry.
• Companies like Lockheed Martin, Boeing, and Northrop Grumman also utilize similar deferred compensation plans to attract and retain qualified board members.
• The specific terms of these plans, such as the vesting schedules and settlement methods, can vary, but the underlying principle of aligning director interests with shareholder value remains consistent.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.

Key Dates