Pamela Morrow - 01 Apr 2025 Form 4 Insider Report for Leonardo DRS, Inc. (DRS)

Role
SVP and Controller
Signature
/s/ Katherine A. Krebel, Attorney-in-Fact
Issuer symbol
DRS
Transactions as of
01 Apr 2025
Net transactions value
-$148,780
Form type
4
Filing time
03 Apr 2025, 16:26:39 UTC
Previous filing
19 Mar 2025
Next filing
04 Apr 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRS Common Stock Options Exercise $0 +3,237 +19% $0.000000 20,572 01 Apr 2025 Direct F1
transaction DRS Common Stock Tax liability $41,482 -1,262 -6.1% $32.87 19,310 01 Apr 2025 Direct F2
transaction DRS Common Stock Options Exercise $0 +2,517 +13% $0.000000 21,827 01 Apr 2025 Direct F3
transaction DRS Common Stock Tax liability $38,885 -1,183 -5.4% $32.87 20,644 01 Apr 2025 Direct F2
transaction DRS Common Stock Sale $68,413 -2,150 -10% $31.82 18,494 02 Apr 2025 Direct F4

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 -3,237 -23% $0.000000 10,790 01 Apr 2025 Common Stock 3,237 Direct F1
transaction DRS Restricted Stock Unit Options Exercise $0 -2,517 -23% $0.000000 8,273 01 Apr 2025 Common Stock 2,517 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 restricted stock unit ("RSU") 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. One third of the RSU's vested on each of April 1, 2024 and April 1, 2025. The remaining RSUs are scheduled to vest one-third on 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 were 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.
F3 Each 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. One-third of the RSUs vested on April 1, 2025. The remaining RSUs are scheduled to vest one-third annually on each of April 1, 2026, and April 1, 2027, subject to the Reporting Person's continued employment with the Issuer through each 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 29, 2024.