Form 4: L3Harris Technologies Executive Jon Rambeau Reports Stock Transactions

Jon Rambeau, an executive at L3Harris Technologies, reports the vesting and settlement of restricted stock units and associated tax withholding.

Summary

• On November 1, 2024, Jon Rambeau, Pres., Integrated Mission Sys. at L3Harris Technologies, had restricted stock units vest and settle into common stock.
• 4,147 shares of common stock were issued upon the vesting of restricted stock units.
• 1,407 shares were withheld by L3Harris to cover tax liabilities related to the vesting of the RSUs at a price of $247.48.
• Rambeau also acquired 63.70 shares through the Issuer's retirement plan as of September 27, 2024.
• Following these transactions, Rambeau directly owns 5,974.56 shares of L3Harris common stock.
• He also holds 4,147 unvested restricted stock units, which represent a contingent right to receive one share of L3Harris common stock each.

Sentiment

Score: 6

Explanation: Neutral sentiment as this is a routine transaction related to executive compensation. The vesting of RSUs is a planned event.

Positives

• The vesting of RSUs indicates that Rambeau has met certain performance or time-based milestones set by the company.
• Continued holdings in company stock align Rambeau's interests with those of shareholders.

Future Outlook

The remaining RSUs vest on 11/01/2025, subject to the terms and conditions of the restricted unit award agreement.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's confidence in the company's future prospects. Form 4 filings are a standard part of regulatory compliance.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) as a way to align management's interests with those of shareholders.
• The vesting schedules and tax withholding practices described in the document are typical for RSU grants in publicly traded companies.
• Companies like Lockheed Martin (LMT), Boeing (BA), and Northrop Grumman (NOC) also utilize RSUs as part of their executive compensation plans.

Stakeholder Impact

• The vesting of RSUs and subsequent tax withholding have a minor impact on the company's outstanding shares and cash flow.
• The transactions are unlikely to have a significant impact on other stakeholders.

Key Dates