Form 4: Leidos GC Acquires Shares via Deferral Plan

Leidos Holdings, Inc. General Counsel Daniel J. Antal acquired 0.8977 shares of common stock through a Key Executive Stock Deferral Plan.

Summary

• Daniel J. Antal, Executive Vice President and General Counsel of Leidos Holdings, Inc., reported a change in beneficial ownership.
• Antal acquired 0.8977 shares of Leidos common stock on September 30, 2025.
• These shares were acquired at a price of $0, representing dividend equivalent rights.
• The acquisition was made indirectly through a Key Executive Stock Deferral Plan.
• Following this transaction, Antal beneficially owns 5,008.4632 shares of common stock indirectly.
• The transaction was executed pursuant to a Rule 10b5-1(c) plan, indicating it was pre-arranged.

Sentiment

Score: 6

Explanation: The filing indicates a routine, pre-scheduled acquisition of a very small number of shares by an executive, primarily representing dividend equivalent rights. While it shows continued executive alignment, the transaction's minor scale means it has limited impact on overall sentiment.

Positives

• The acquisition, even of a small number of shares, by an executive can signal continued confidence in the company's future prospects.
• Participation in a Key Executive Stock Deferral Plan aligns executive compensation and interests with long-term shareholder value.
• The use of a Rule 10b5-1 plan demonstrates a commitment to transparent and pre-planned transactions, mitigating concerns about insider trading.

Negatives

• The number of shares acquired (0.8977) is negligible, suggesting it is a routine accrual rather than a significant new investment by the executive.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Industry Context

This filing reports a routine insider transaction specific to Leidos Holdings, Inc. and its executive. It does not provide broader industry context or trends.

Related Party Transactions

• Daniel J. Antal, an executive of Leidos Holdings, Inc., acquired shares of the company's common stock indirectly through a Key Executive Stock Deferral Plan, which constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The minor increase in executive ownership through a deferral plan offers a slight positive signal regarding management's alignment with shareholder interests, though the transaction size is not material.
• Management: Daniel J. Antal's beneficial ownership increased slightly, further aligning his personal financial interests with the company's performance.

Key Dates

Recommendation

This Form 4 reports a routine, pre-scheduled acquisition of a negligible number of shares by an executive through a deferral plan. It does not provide new material information that would significantly alter the investment thesis for Leidos Holdings, Inc. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present a compelling reason to buy or sell.

Keywords

Leidos Holdings, LDOS, Daniel J. Antal, Form 4, insider transaction, stock deferral plan, executive compensation, common stock, dividend equivalent rights, Rule 10b5-1