Fendley Steven S. 4

What Happened
Steven S. Fendley, President — U.S. Division of Kratos Defense & Security Solutions (KTOS), sold a total of 7,000 shares in open-market transactions on May 26, 2026, generating roughly $400,692 in proceeds. The reported lots were: 4,644 shares at $56.92 ($264,323), 2,336 shares at $57.88 ($135,197), and 20 shares at $58.62 ($1,172). These were sales (not purchases), and the filing indicates they were executed under a pre-established 10b5‑1 trading plan.

Key Details

• Transaction date: May 26, 2026; Form 4 filed May 28, 2026 (appears timely).
• Lots/prices reported: 4,644 @ $56.92; 2,336 @ $57.88; 20 @ $58.62; total proceeds ≈ $400,692.
• Footnotes: Transaction effected under a 10b5‑1 plan adopted May 12, 2025 (F1). The first two reported prices are weighted averages from multiple executions (ranges $56.46–$57.38 and $57.46–$58.45) with the filer offering to provide per-price breakdowns on request (F2, F3).
• Shares owned after transaction: not specified in the filing; footnote notes ~2,418 shares held through Kratos' 401(k) plan (F4).

Context
Sales executed under a 10b5‑1 trading plan are pre-arranged trades and are generally considered routine rather than a direct signal of management's short-term sentiment. For retail investors, purchases often carry more informational weight than routine insider sales; this Form 4 documents routine disposal of shares rather than an acquisition or option exercise.