John Baylouny - 15 Mar 2023 Form 4 Insider Report for Leonardo DRS, Inc. (DRS)

Role
EVP and COO
Signature
/s/ Katherine Krebel, Attorney-in-Fact
Issuer symbol
DRS
Transactions as of
15 Mar 2023
Net transactions value
-$62,849
Form type
4
Filing time
11 May 2023, 10:42:04 UTC
Previous filing
30 Nov 2022
Next filing
20 Apr 2023
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 +16,464 $0.000000 16,464 15 Mar 2023 Direct F1
transaction DRS Common Stock Tax liability $62,849 -5,089 -31% $12.35 11,375 15 Mar 2023 Direct F2

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 -16,464 -33% $0.000000 32,929 15 Mar 2023 Restricted Stock Unit 16,464 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") was granted under the Issuer's 2022 Omnibus Equity Compensation 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 March 15, 2023 and the remainder will vest one-third annually on each of March 15, 2024 and March 15, 2025, subject to the Reporting Person's continued employment with the Issuer through each date.
F2 Shares withheld by the Company to satisfy tax withholding requirements.

Remarks:

This Form 4 is being filed late due to inadvertent administrative error.