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Leonardo DRS, Inc.·4

Apr 3, 5:15 PM ET

Dorfman Mark 4

Research Summary

AI-generated summary

Updated

Leonardo DRS (DRS) EVP Mark Dorfman Receives Awards; Sells Shares

What Happened
Mark Dorfman, Executive Vice President, General Counsel and Secretary of Leonardo DRS, had a mix of performance- and time-based equity awards vest on April 1, 2026 that converted into 54,501 shares of common stock. To satisfy tax withholding, 25,230 of those shares were withheld at $45.86 per share (cash value reported $1,157,047). Separately, 4,659 shares were sold in an open-market transaction on April 2, 2026 at $45.38 per share for $211,425 under a pre-established Rule 10b5-1 trading plan. Net result: a net increase of 24,612 shares retained (54,501 acquired − 29,889 disposed).

Key Details

  • Transaction dates and prices:
    • Awards/vests/derivative conversions: April 1, 2026 — total 54,501 shares acquired (various PRSU/RSU awards; exercise/conversion reported at $0.00).
    • Shares withheld for taxes: 25,230 shares at $45.86 (total ≈ $1,157,047).
    • Open-market sale under 10b5-1: 4,659 shares on April 2, 2026 at $45.38 (total $211,425).
  • Shares owned after transaction: not reported in the Form 4 provided.
  • Notable footnotes:
    • F1/F3: PRSUs from April 2023 performance awards vested (performance period 2023–2025, certified Feb 19, 2026).
    • F5–F7: Various RSU grants vested in part on April 1, 2026.
    • F2: Shares were withheld to satisfy tax withholding obligations.
    • F4: The open-market sale was executed under a Rule 10b5-1 plan adopted June 13, 2025.
  • Filing: Form 4 filed April 3, 2026 (covers transactions April 1–2, 2026); filing appears timely.

Context and plain-language notes:

  • The zero-dollar "M" (exercise/conversion) entries reflect conversion/vesting of equity awards (PRSUs/RSUs) into common shares, not a cash purchase of stock. The subsequent "F" entries represent shares withheld to cover taxes — a routine administrative step, not a discretionary sale for cash.
  • The small open-market sale was preplanned under a 10b5-1 agreement; such sales typically follow a predetermined formula and do not necessarily signal a change in the insider’s view of the company.
  • Purchases generally carry more informational weight for investors; this filing mainly documents vesting and routine withholding plus a planned sale.