Form 4: L3Harris Technologies Executive Ross Niebergall Reports Stock Transactions
SEC Form 4
Ross Niebergall, President of Aerojet Rocketdyne (a division of L3Harris Technologies), reports acquisition and disposal of L3Harris Technologies stock and derivative securities.
Summary
- Ross Niebergall, President of Aerojet Rocketdyne, filed a Form 4 detailing changes in beneficial ownership of L3Harris Technologies stock.
- On February 23, 2024, Niebergall acquired 4,317 shares of common stock related to the settlement of performance stock units and was granted 9,755 non-qualified stock options and 2,332 restricted stock units.
- Also on February 23, 2024, Niebergall disposed of 1,052 shares to cover tax obligations at a price of $214.45.
- On February 26, 2024, Niebergall acquired 2,062 shares of common stock from vested restricted stock units and disposed of 812 shares to cover tax obligations at a price of $211.74.
- Following these transactions, Niebergall directly owns 19,288.53 shares of L3Harris Technologies common stock and 9,755 non-qualified stock options and 2,332 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Positives
- The acquisition of shares and stock options by a high-ranking executive could be interpreted as a positive signal regarding their confidence in the company's future performance.
Future Outlook
The non-qualified stock options vest ratably on 2/23/25, 2/23/26, and 2/23/27, subject to continued employment. The restricted stock units vest on 2/23/2027, also subject to continued employment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like L3Harris Technologies. It provides transparency into the transactions of key personnel.
Stakeholder Impact
- Shareholders may be interested in the stock transactions of key executives as an indicator of management's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/26/2021 | Date of original grant of performance stock units that settled on 02/23/2024. |
| 02/23/2024 | Date of transactions including acquisition of shares from performance stock units, grant of stock options and restricted stock units, and disposal of shares for tax obligations. |
| 02/26/2024 | Date of transactions including acquisition of shares from vested restricted stock units and disposal of shares for tax obligations. |
| 02/23/2025 | First vesting date for the non-qualified stock options. |
| 02/23/2026 | Second vesting date for the non-qualified stock options. |
| 02/23/2027 | Final vesting date for the non-qualified stock options and vesting date for the restricted stock units. |
| 02/23/2034 | Expiration date for the non-qualified stock options. |
| 02/27/2024 | Date of Form 4 filing. |
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