Form 4: Leonardo DRS SVP and Controller Morrow Reports Stock Transactions
SEC Form 4 Filing
Pamela Morrow, SVP and Controller at Leonardo DRS, reports the vesting and subsequent disposal of shares to cover tax obligations.
Summary
- On March 15, 2024, Pamela Morrow, SVP and Controller of Leonardo DRS, had 3,377 restricted stock units (RSUs) vest.
- These RSUs were granted under the company's 2022 Omnibus Equity Compensation Plan, each representing a right to one share of common stock.
- Morrow disposed of 5,494 shares of common stock.
- 1,181 shares were withheld by the company to satisfy tax withholding requirements at a price of $21.97 per share.
- Following these transactions, Morrow directly owns 4,313 shares of common stock and 3,378 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't indicate any significant positive or negative sentiment.
Future Outlook
The remaining one-third of the RSUs will vest on March 15, 2025, subject to the Reporting Person's continued employment with the Issuer through each date.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is important for investor confidence.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| 03/15/2023 | One-third of the RSUs vested. |
| 03/15/2024 | Date of transaction: RSUs vested and shares disposed of to cover taxes. |
| 03/15/2025 | Remaining one-third of the RSUs will vest, subject to continued employment. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.