Form 4: Leonardo DRS SVP and Controller, Pamela Morrow, Reports Stock Transactions

Pamela Morrow, SVP and Controller of Leonardo DRS, reports the vesting and subsequent disposal of restricted stock units to cover tax obligations.

Summary

• Pamela Morrow, SVP and Controller of Leonardo DRS, filed a Form 4 detailing changes in beneficial ownership.
• On April 4, 2024, 3,237 restricted stock units (RSUs) vested, each representing a contingent right to receive one share of Leonardo DRS common stock or its cash equivalent.
• Morrow disposed of 960 shares of common stock at a price of $20.65 to satisfy tax withholding requirements.
• Following these transactions, Morrow directly owns 6,590 shares of Leonardo DRS common stock and 6,476 restricted stock units.
• The settlement of RSUs was originally scheduled for April 1, 2024, but was delayed until April 4, 2024, due to administrative processes.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.

Future Outlook

The remaining RSUs are scheduled to vest one-third annually on each of April 1, 2025 and April 1, 2026, subject to the Reporting Person's continued employment with the Issuer through each date.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.

Key Dates