Form 4: Leidos Director Reports Future Share Acquisition

Leidos Holdings Director Robert S. Shapard reported a scheduled acquisition of 3.4765 shares of common stock via dividend equivalent rights on September 30, 2025.

Summary

• Robert S. Shapard, a Director of Leidos Holdings, Inc. (LDOS), reported a scheduled acquisition of 3.4765 shares of common stock.
• The acquisition is set to occur on September 30, 2025, and is made at a price of $0 per share, representing dividend equivalent rights.
• This transaction was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this reported transaction, Shapard's beneficial ownership will include 1,616.6848 shares indirectly through a Key Executive Stock Deferral Plan, 57,078.08 shares held directly, and 2,500 shares indirectly through a Family Limited Partnership.

Sentiment

Score: 6

Explanation: The filing reports a routine, non-discretionary acquisition of shares by a director through dividend equivalent rights, which is a neutral to slightly positive indicator of continued insider participation and alignment.

Positives

• Director Robert S. Shapard continues to hold a significant equity stake in Leidos Holdings, Inc., aligning his interests with those of shareholders.
• The acquisition of shares through dividend equivalent rights indicates ongoing participation in the company's equity compensation or deferral plans.
• The transaction is executed under a Rule 10b5-1(c) plan, signifying a pre-arranged, non-discretionary acquisition rather than an opportunistic one.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• NA

Industry Context

NA

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders: Provides transparency regarding a director's equity holdings and participation in company compensation plans, reinforcing alignment of interests.

Next Steps

• NA

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary acquisition of a small number of shares by a director through dividend equivalent rights. It does not provide new information that would alter the fundamental investment thesis for Leidos Holdings, Inc., thus a 'hold' recommendation remains appropriate based solely on this filing.

Keywords

Leidos Holdings, LDOS, Robert S. Shapard, Director, Insider Transaction, SEC Form 4, Stock Acquisition, Dividend Equivalent Rights, 10b5-1 Plan