Thomas H. Jones - Feb 16, 2023 Form 4 Insider Report for NORTHROP GRUMMAN CORP /DE/ (NOC)

Role: CVP & Pres Aeronautics Systems
Signature: /s/ Jennifer C. McGarey, Attorney-in-Fact
Stock symbol: NOC
Transactions as of: Feb 16, 2023
Transactions value $: -$417,924
Form type: 4
Date filed: 2/21/2023, 03:34 PM
Previous filing: Feb 17, 2023
Next filing: Feb 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NOC	Common Stock	Options Exercise	$0	+1.32K	+46.45%	$0.00	4.17K	Feb 16, 2023	Direct
transaction	NOC	Common Stock	Tax liability	-$213K	-458	-10.97%	$465.35	3.72K	Feb 16, 2023	Direct
transaction	NOC	Common Stock	Sale	-$205K	-440	-11.84%	$465.44	3.28K	Feb 17, 2023	Direct	F1

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	NOC	Restricted Stock Rights	Award	$0	+2.15K	+37.48%	$0.00	7.89K	Feb 16, 2023	Common Stock	2.15K		Direct	F2
transaction	NOC	Restricted Performance Stock Rights	Award	$0	+5.16K	+38.35%	$0.00	18.6K	Feb 16, 2023	Common Stock	5.16K		Direct	F3, F4
transaction	NOC	Restricted Performance Stock Rights	Options Exercise	$0	-1.32K	-7.12%	$0.00	17.3K	Feb 16, 2023	Common Stock	1.32K		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F2	Each Restricted Stock Right ("RSR") represents a contingent right to receive an equivalent number of shares in Issuer common stock, or, at the election of the Issuer's Compensation Committee, cash or a combination of cash and Issuer common stock. The RSRs were granted under the Long-Term Incentive Stock Plan ("LTISP") on 2/16/23 and will vest on 2/17/26.
F3	Each Restricted Performance Stock Right ("RPSR") represents a contingent right to receive an equivalent number of shares of Issuer common stock, or, at the Issuer's election, cash or a combination of cash and Issuer common stock. The RPSRs vest if the applicable performance metric is satisfied for the relevant measurement period. Grants awarded pursuant to Rule 16b-3(d).
F4	The RPSRs acquired include (i) 486.04 vested RPSRs with respect to the measurement period ended 12/31/22 acquired due to settlement of the RPSRs granted under the 2011 Long-Term Incentive Stock Plan ("LTISP") on 2/12/20 that resulted in settlement at 158% of the target award; and (ii) 4,669 unvested RPSRs granted under the LTISP on 2/16/23 with a measurement period ending on 12/31/25. A total of 1,324.04 shares were issued in settlement of the 2020 RPSRs with a measurement period that ended 12/31/22, and the target award amount of 838 RPSRs was previously reported in connection with the grant of the 2020 RPSRs.