Form 4: L3Harris Technologies Director Geraghty Acquires Phantom Stock Units

Director Joanna Geraghty acquired phantom stock units in L3Harris Technologies through a non-employee director compensation plan.

Summary

• On April 1, 2025, Joanna Geraghty, a director of L3Harris Technologies, acquired 178.78 phantom stock units under the company's 2019 Non-Employee Director Compensation Plan.
• These units were credited due to her prior election to defer a portion of her quarterly cash retainer.
• The price per share was $209.75.
• As of April 1, 2025, Geraghty beneficially owns 3,361.95 shares of common stock, including 9.38 phantom stock units acquired through dividend credits since the last report.
• The phantom stock units will be settled solely in shares of L3Harris Technologies common stock upon her separation from service with the Issuer.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and well-managed company. The sentiment is neutral to slightly positive.

Positives

• The acquisition of phantom stock units by a director demonstrates alignment with the company's long-term performance.
• The director's participation in the Non-Employee Director Compensation Plan indicates confidence in the company's future prospects.

Future Outlook

The phantom stock units are subject to settlement solely in shares of the Issuer's common stock upon the reporting person's separation from service with the Issuer.

Industry Context

Director compensation through equity-based awards is a common practice in publicly traded companies to align the interests of directors with those of shareholders. Phantom stock units are a type of equity compensation that provides directors with the benefits of stock ownership without actually issuing shares until a future date.

Comparison to Industry Standards

• Companies like Lockheed Martin (LMT) and Northrop Grumman (NOC) also utilize equity-based compensation for their directors, including stock options and restricted stock units, to incentivize long-term value creation.
• The specific terms of these compensation plans, such as vesting schedules and settlement methods, can vary significantly across companies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with long-term company performance.

Key Dates

Keywords

L3Harris Technologies, Director, Phantom Stock Units, Non-Employee Director Compensation Plan, Beneficial Ownership, Form 4, LHX