Thomas H. Jones - Feb 14, 2024 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 14, 2024
Transactions value $
-$2,253,033
Form type
4
Date filed
2/16/2024, 02:05 PM
Previous filing
Feb 23, 2023
Next filing
Feb 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NOC Common Stock Options Exercise $0 +10.2K +399.63% $0.00 12.7K Feb 14, 2024 Direct
transaction NOC Common Stock Tax liability -$2.25M -4.83K -37.94% $466.37 7.9K Feb 14, 2024 Direct

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 +2.36K +29.85% $0.00 10.2K Feb 14, 2024 Common Stock 2.36K Direct F1
transaction NOC Restricted Performance Stock Rights Award $0 +8.09K +46.86% $0.00 25.4K Feb 14, 2024 Common Stock 8.09K Direct F2, F3
transaction NOC Restricted Performance Stock Rights Options Exercise $0 -10.2K -40.15% $0.00 15.2K Feb 14, 2024 Common Stock 10.2K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 2/14/24 and will vest on 2/14/27.
F2 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).
F3 The RPSRs acquired include (i) 2,961.43 vested RPSRs with respect to the measurement period ended 12/31/23 acquired due to settlement of the RPSRs granted under the LTISP on 2/16/21 that resulted in settlement at 141% of the target award; and (ii) 5,133 unvested RPSRs granted under the LTISP on 2/14/24 with a measurement period ending on 12/31/26. A total of 10,184.43 shares were issued in settlement of the 2021 RPSRs with a measurement period that ended 12/31/23, and the target award amount of 7,223 RPSRs was previously reported in connection with the grant of the 2021 RPSRs.