Michael Dippold - 29 Nov 2022 Form 4 Insider Report for Leonardo DRS, Inc. (DRS)

Reporting relationship: EVP and CFO
Issuer ticker: DRS
Reported as of: 29 Nov 2022
Net transaction value: $0
SEC form: 4
Accepted by SEC: 30 Nov 2022, 06:48:00 UTC
Prior SEC filing: 28 Nov 2022
Next SEC filing: 11 May 2023
Source filing: View source filing
Reporting owner signature: /s/ Katherine Krebel, Attorney-in-Fact

Key filing fact

Michael Dippold filed Form 4 for Leonardo DRS, Inc. (DRS) on 30 Nov 2022.

Key facts

This page summarizes Michael Dippold's Form 4 filing for Leonardo DRS, Inc. (DRS).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 30 Nov 2022, 06:48.

Change

Previous filing in this sequence was filed on 28 Nov 2022.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

DRS transaction Derivative

Restricted Stock Unit

Award

Transaction value: $0
Shares: +34,286
Change %
Price: $0.000000
Shares after: 34,286
Date: 29 Nov 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 34,286
Exercise price
Footnotes: F1

DRS transaction Derivative

Performance Restricted Stock Unit

Award

Transaction value: $0
Shares: +51,429
Change %
Price: $0.000000
Shares after: 51,429
Date: 29 Nov 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 51,429
Exercise price
Footnotes: F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote 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. 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 (the "Merger"). The RSUs are scheduled to vest on the second anniversary of the grant date and have no expiration date.

Footnote F2

Each performance restricted stock unit ("PRSU") 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 PRSUs were granted to the Reporting Person in connection with the closing of the Merger. The target number of PRSUs is presented in the table. The PRSUs are scheduled to vest over a period of two years, and the number of PRSUs actually earned will be determined based upon the achievement of certain predetermined performance targets and have no expiration date.

SEC remarks

See Exhibit 24 - Power of Attorney.