Form 4: L3Harris Technologies Director Robert B. Millard Reports Changes in Beneficial Ownership

Director Robert B. Millard reports acquisition of phantom stock units and dividend credits under the L3Harris Technologies, Inc. 2019 Non-Employee Director Deferred Compensation Plan.

Summary

• Robert B. Millard, a director of L3Harris Technologies, Inc., filed a Form 4 on October 3, 2024, reporting changes in beneficial ownership.
• The report details the acquisition of 203.84 phantom stock units on October 1, 2024, at a price of $245.29 per unit, under the company's Non-Employee Director Deferred Compensation Plan.
• These phantom stock units are payable in shares of L3Harris common stock upon the director's separation from service.
• The report also includes 42.09 phantom stock units acquired through dividend credits since the last report.
• Following the reported transactions, Millard directly owns 9,127.32 shares of common stock and indirectly owns 209,428 shares through a grantor retained annuity trust and 14,943 shares through a family trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a routine disclosure of stock ownership changes. There are no explicit positive or negative implications for the company's performance.

Positives

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

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

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Key Dates