Frances F. Townsend - Nov 29, 2023 Form 4 Insider Report for Leonardo DRS, Inc. (DRS)

Role: Director
Signature: /s/ Katherine A. Krebel, Attorney-in-Fact
Stock symbol: DRS
Transactions as of: Nov 29, 2023
Transactions value $: $0
Form type: 4
Date filed: 12/1/2023, 11:27 AM
Previous filing: Jun 2, 2023
Next filing: May 17, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRS	Common Stock	Options Exercise	$0	+3.57K	+51.35%	$0.00	10.5K	Nov 29, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DRS	Restricted Stock Unit	Options Exercise	$0	-3.57K	-49.99%	$0.00	3.57K	Nov 29, 2023	Common Stock	3.57K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F2	Each RSU granted under the Issuer's 2022 Omnibus Equity Compensation Plan represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof and has no expiration date. The RSUs were granted to the Reporting Person in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger, dated June 21, 2022, by and among Leonardo DRS, Inc., RADA Electronic Industries Limited and Blackstart Ltd. One-half of the RSUs vested and settled in common stock on November 29, 2023 and the remaining one-half of the RSUs vest on November 29, 2024.

Content

Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.

Each RSU granted under the Issuer's 2022 Omnibus Equity Compensation Plan represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof and has no expiration date. The RSUs were granted to the Reporting Person in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger, dated June 21, 2022, by and among Leonardo DRS, Inc., RADA Electronic Industries Limited and Blackstart Ltd. One-half of the RSUs vested and settled in common stock on November 29, 2023 and the remaining one-half of the RSUs vest on November 29, 2024.