Wallace Sally 4

What Happened

• Sally Wallace, Chief Operating Officer of Leonardo DRS (DRS), had equity awards vest on April 1, 2026 (performance RSUs/RSUs and conversions). A total of 53,662 shares were acquired through vesting/exercise.
• Of those, 24,702 shares were withheld to satisfy tax withholding at a reported price of $45.86 (proceeds/benefit to the company or tax authority shown as $1,132,834). Separately, 28,960 shares were sold in the open market on April 2, 2026 at a weighted average price of $46.35 for proceeds of $1,342,296. Combined proceeds tied to these dispositions are about $2.48 million.
• This activity reflects award vesting and routine sales (including tax withholding and sales under a pre‑arranged plan), not an open‑market purchase.

Key Details

• Transaction dates & prices: Vesting/exercise on 2026-04-01; tax‑withheld disposals at $45.86; open‑market sales on 2026-04-02 at weighted avg $46.35 (range $45.205–$46.98 per filing).
• Shares acquired via vesting/exercise: 53,662; shares disposed (withheld + sold): 53,662 (24,702 withheld for taxes; 28,960 sold).
• Reported proceeds: ~ $1.34M from open‑market sales + ~ $1.13M associated with tax‑withheld shares ≈ $2.48M total.
• Notable footnotes: PRSUs were awarded April 2023 for the 2023–2025 performance period and certified Feb 19, 2026; RSUs/PRSUs vested on April 1, 2026. The open‑market sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Aug 6, 2025. The filing reports a weighted average sale price and the seller offers to provide per‑trade prices on request.
• Filing/timeliness: Form 4 filed April 3, 2026 — timely under the two‑business‑day rule.
• Transaction codes explained: A = Award/Grant, M = exercise/conversion of derivative (RSUs/PRSUs), F = shares withheld to cover tax obligations, S = open‑market sale.

Context

• This was vesting plus immediate disposition (tax withholding and planned sales). That pattern is common for executives receiving RSUs/PRSUs and does not by itself indicate a bullish purchase signal. The sales were largely executed under a pre‑arranged 10b5‑1 plan and via tax withholding (cashless net settlement).