Form 4: L3Harris Technologies Director Geraghty Reports Phantom Stock Unit Acquisition

Director Joanna Geraghty reports acquisition of phantom stock units in L3Harris Technologies through a deferred compensation plan.

Summary

• On July 1, 2024, Joanna Geraghty, a director of L3Harris Technologies, acquired 168.95 phantom stock units under the company's 2019 Non-Employee Director Deferred Compensation Plan.
• The acquisition occurred at a price of $221.96 per unit.
• Following the transaction, Geraghty beneficially owns 2,826.6 phantom stock units.
• These phantom stock units are subject to settlement solely in shares of L3Harris Technologies common stock upon Geraghty's separation from service with the Issuer.
• The reported holdings include 5.76 phantom stock units acquired through dividend credits under the Plan since the last report.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns director interests with company performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of L3Harris Technologies.
• Dividend credits further increase the director's stake in the company.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to executive compensation and aligns with standard practices for publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are common among publicly traded companies to align director and executive interests with shareholder value.
• Companies like Lockheed Martin (LMT) and Northrop Grumman (NOC) also utilize similar compensation structures for their directors.
• The specific terms and amounts of these plans vary based on company size, performance, and individual contributions.

Stakeholder Impact

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

Key Dates