SHAPARD ROBERT S 4

What Happened
Robert S. Shapard, a director of Leidos Holdings, exercised stock options on 2026-02-19 to acquire 3,345 shares at an exercise price of $75.02 per share (gross cash cost $250,942). The company withheld 1,463 shares to cover the exercise price and associated fees (footnote F1), and the related option/derivative position was removed. After withholding, the net shares delivered to Shapard were 1,882 (3,345 acquired minus 1,463 withheld).

Key Details

• Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (filing timeliness not specified in the provided data).
• Option exercise: 3,345 shares acquired @ $75.02 each = $250,942 (gross).
• Share withholding (tax/exercise payment): 1,463 shares disposed @ $171.53 each = $250,948 (footnote F1).
• Derivative/instrument disposition: 3,345 shares shown as disposed at $0 (standard cancellation of the option instrument after exercise).
• Shares owned after the transaction: not specified in the filing excerpt provided.
• Footnote F1: issuer withheld shares to cover the exercise price and associated fees (net-share settlement / tax withholding).

Context
This was an option exercise (transaction code M) with shares withheld to cover costs (transaction code F). That is a common way to exercise options without a separate cash payment or open-market sale and does not necessarily signal a view on the stock’s near-term prospects. Net new shares received by the insider were 1,882.