William Lynn III - Nov 29, 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
Nov 29, 2024
Transactions value $
-$7,754,546
Form type
4
Date filed
12/3/2024, 06:05 PM
Previous 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 +214K +210.66% $0.00 316K Nov 29, 2024 Direct F1
transaction DRS Common Stock Tax liability -$3.73M -107K -33.97% $34.77 209K Nov 29, 2024 Direct F2
transaction DRS Common Stock Options Exercise $0 +143K +68.47% $0.00 352K Nov 29, 2024 Direct F3
transaction DRS Common Stock Tax liability -$2.49M -71.6K -20.36% $34.77 280K Nov 29, 2024 Direct F2
transaction DRS Common Stock Sale -$1.53M -45K -16.08% $34.07 235K Dec 2, 2024 Direct F4, F5

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 Performance Restricted Stock Unit Options Exercise $0 -214K -100% $0.00 0 Nov 29, 2024 Common Stock 214K Direct F1
transaction DRS Restricted Stock Unit Options Exercise $0 -143K -100% $0.00 0 Nov 29, 2024 Common Stock 143K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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).

Explanation of Responses:

Id Content
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 27, 2024.
F5 The price reported is a weighted average price (rounded to the nearest whole cent). These shares were sold in multiple transactions at prices ranging from $33.60 - $35.40, 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.