Form 4: L3Harris Technologies Director Robert Millard Reports Acquisition of Phantom Stock Units

Director Robert Millard reports acquiring phantom stock units in L3Harris Technologies through a deferred compensation plan.

Summary

• Robert B. Millard, a director of L3Harris Technologies, reported changes in beneficial ownership.
• The earliest transaction date was January 2, 2025.
• Millard acquired 241.13 phantom stock units at $207.36 under the L3Harris Technologies, Inc. 2019 Non-Employee Director Deferred Compensation Plan.
• These phantom stock units will be settled in shares of L3Harris common stock upon Millard's separation from service.
• Millard directly owns 9,411.5 shares of common stock.
• Millard indirectly owns 209,428 shares through a grantor retained annuity trust and 14,943 shares through a family trust.
• The report was signed by John C. Scarborough Jr., Attorney-in-Fact for Robert B. Millard, on January 6, 2025.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing indicates continued investment by a director, which is generally viewed favorably, but it's a routine disclosure.

Positives

• The acquisition of phantom stock units reflects Millard's continued investment in L3Harris Technologies.
• The deferred compensation plan aligns director interests with the long-term performance of the company.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors and their alignment with shareholder interests.

Comparison to Industry Standards

• Director compensation plans involving phantom stock units are a fairly common practice among publicly traded companies, particularly in the defense and technology sectors.
• Companies like Lockheed Martin, Northrop Grumman, and Raytheon Technologies also utilize similar deferred compensation and equity-based incentive plans for their directors to align their interests with long-term shareholder value.

Stakeholder Impact

• The filing provides transparency to shareholders regarding director compensation and ownership.
• It assures stakeholders that directors' interests are aligned with the company's long-term success.

Key Dates