William Lynn III - Apr 1, 2024 Form 4 Insider Report for Leonardo DRS, Inc. (DRS)

Role
Chief Executive Officer, Director
Signature
/s/ Katherine A. Krebel, Attorney-in-Fact
Stock symbol
DRS
Transactions as of
Apr 1, 2024
Transactions value $
-$484,889
Form type
4
Date filed
4/3/2024, 06:18 PM
Previous filing
Mar 19, 2024
Next filing
May 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRS Common Stock Options Exercise $0 +46.4K +59.52% $0.00 124K Apr 1, 2024 Direct F1
transaction DRS Common Stock Tax liability -$485K -22.5K -18.13% $21.52 102K Apr 1, 2024 Direct F2

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 -46.4K -33.33% $0.00 92.7K Apr 1, 2024 Common Stock 46.4K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") was granted under the Issuer's 2022 Omnibus Equity Compensation Plan, and represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof. One-third of the RSU's vested on April 1, 2024. 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. The number of RSUs that vest on each of April 1, 2024 and April 1, 2025 shall be rounded down to the nearest whole number of RSUs and the remaining RSUs shall vest on April 1, 2026.
F2 Shares withheld by the Company to satisfy tax withholding requirements.