Form 4: Leidos Sector President Exercises Options, Sells Shares

Leidos Holdings, Inc. Sector President Stephen Hull exercised stock options and subsequently sold a portion of his common stock holdings.

Summary

• Stephen Edward Hull, Sector President of Leidos Holdings, Inc. (LDOS), reported multiple transactions involving the company's common stock.
• On September 2, 2025, Hull exercised stock options to acquire a total of 11,526 shares at exercise prices ranging from $89.08 to $105.08.
• On September 4, 2025, Hull exercised options to acquire 2,827 shares at an exercise price of $129.79.
• Concurrently on September 4, 2025, 2,409 shares were disposed of at $177.71 to cover the exercise price and associated fees.
• Additionally, 12,497 shares were sold in the open market at a weighted average price of $178.14, with individual sales ranging from $177.64 to $178.545.
• All reported transactions were made pursuant to a Rule 10b5-1(c) plan.
• The filing also corrected a clerical error from a previous Form 4 filed on August 19, 2025, regarding the number of beneficially owned options, stating the correct amount was 4,264 instead of 2,843.

Sentiment

Score: 5

Explanation: Neutral. Form 4s are factual reports of insider transactions. The exercise of options is positive for the insider, while the sale is a monetization event, often pre-planned under a 10b5-1 plan, and does not inherently signal a change in company outlook.

Positives

• The exercise of stock options indicates the monetization of vested equity by a key executive.
• The sale prices ($177.71 and $178.14) are significantly higher than the option exercise prices (ranging from $89.08 to $129.79), indicating a profitable transaction for the reporting person.
• The transactions were conducted under a Rule 10b5-1(c) plan, suggesting pre-planned activity rather than a reaction to immediate company news.

Negatives

• The open market sale of 12,497 shares by a Sector President could be perceived as a reduction in direct equity exposure, although it is common for executives to diversify holdings.

Future Outlook

No forward-looking statements or guidance were provided in this transactional filing.

Industry Context

This filing reports routine insider transactions for an executive at Leidos Holdings, Inc., and does not provide information related to broader industry trends or competitors.

Stakeholder Impact

• Shareholders may note insider selling, but the pre-arranged nature (10b5-1 plan) typically mitigates concerns about immediate negative implications. The correction of a clerical error ensures accurate reporting of executive holdings.

Next Steps

• The reporting person undertakes to provide Leidos Holdings, Inc., any security holder, or the SEC staff upon request, full information regarding the number of shares sold at each separate price within the reported range.

Key Dates

Keywords

Leidos Holdings, LDOS, Insider Trading, Form 4, Stock Options, Equity Sales, Stephen Hull, Executive Compensation, 10b5-1 Plan