Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | DRS | Performance Restricted Stock Unit | Options Exercise | $0 | -51.4K | -100% | $0.00 | 0 | Nov 29, 2024 | Common Stock | 51.4K | Direct | F1 | |
transaction | DRS | Restricted Stock Unit | Options Exercise | $0 | -34.3K | -100% | $0.00 | 0 | Nov 29, 2024 | Common Stock | 34.3K | Direct | F3 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
Id | Content |
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F1 | Each performance restricted stock unit ("PRSU") was granted under the Issuer's 2022 Omnibus Equity Compensation Plan (the "Plan") and represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof. The PRSUs 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 (the "Merger"). The PRSUs vested on November 29, 2024, the second anniversary of the grant date. |
F2 | Shares withheld by the Company to satisfy tax withholding requirements. |
F3 | Each restricted stock unit ("RSU") was granted under the Plan, and represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof. The RSUs were granted to the Reporting Person in connection with the closing of the Merger. The RSUs vested on November 29, 2024, the second anniversary of the grant date. |
F4 | The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 13, 2024. |
F5 | The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.61 - $35.37, inclusive. The Reporting Person undertakes to provide upon request by the Commission staff, the Company or a security holder of the Company, full information regarding the number of shares sold at each separate price. |