Form 4: Leidos Holdings Chief Growth Officer Sells Shares to Cover Tax Obligations

Gerard A. Fasano, Chief Growth Officer of Leidos Holdings, sold 226 shares of common stock to cover tax obligations related to previously awarded restricted stock units.

Summary

• Gerard A. Fasano, the Chief Growth Officer of Leidos Holdings, sold 226 shares of common stock on November 15, 2024.
• The sale was executed at a price of $167.96 per share.
• The shares were sold to cover tax obligations associated with previously awarded restricted stock units.
• Following the transaction, Mr. Fasano beneficially owns 90,755.4459 shares of Leidos common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction for tax purposes, which is neither positive nor negative for the company's overall performance. The sentiment is neutral to slightly positive as it indicates the executive is managing their financial affairs.

Industry Context

This is a routine transaction for corporate executives to manage their tax liabilities related to stock-based compensation. It is common for executives to sell shares to cover taxes when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total holdings of the executive, which is typical for these types of transactions.
• Similar transactions are regularly reported by executives at companies like Lockheed Martin (LMT), Northrop Grumman (NOC), and General Dynamics (GD), which are also in the aerospace and defense industry.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive for tax purposes.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Leidos Holdings, Gerard A. Fasano, Chief Growth Officer, stock sale, tax obligations, restricted stock units, insider trading