Form 4: L3Harris Technologies Director Geraghty Acquires Phantom Stock Units

Director Joanna Geraghty acquired phantom stock units in L3Harris Technologies through a deferred compensation plan.

Summary

• On October 1, 2024, Joanna Geraghty, a director of L3Harris Technologies, acquired 152.88 phantom stock units under the company's 2019 Non-Employee Director Deferred Compensation Plan at a price of $245.29 per unit.
• These phantom stock units will be settled in shares of L3Harris Technologies common stock upon Geraghty's separation from service.
• Geraghty also acquired 6.36 phantom stock units through dividend credits under the plan since the last report.
• Following the reported transaction, Geraghty beneficially owns 2,985.84 shares of common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director's continued investment in the company through a standard compensation plan.

Positives

• The acquisition of phantom stock units by a director demonstrates confidence in the company's future performance.

Future Outlook

The phantom stock units will be settled in shares of L3Harris Technologies common stock upon Geraghty's separation from service.

Industry Context

This filing is a routine disclosure of a director's stock-based compensation, which is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Director compensation packages often include stock options, restricted stock units, or phantom stock units to incentivize long-term value creation.
• The specific terms of the L3Harris Technologies Non-Employee Director Deferred Compensation Plan would need to be compared to those of peer companies in the aerospace and defense industry to assess its competitiveness.
• Companies like Lockheed Martin, Boeing, and Northrop Grumman also utilize similar equity-based compensation plans for their directors.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates