Dippold Michael 4
4 · Leonardo DRS, Inc. · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Leonardo DRS (DRS) CFO Michael Dippold Receives Awards, Sells Shares
What Happened
- Michael Dippold, EVP and Chief Financial Officer of Leonardo DRS, had performance RSUs/RSUs (awarded in April 2023 and under prior grants) vest on April 1, 2026, totaling 78,384 shares. To satisfy tax-withholding obligations, 34,157 shares were withheld at $45.86 (totaling $1,566,441). Separately, 7,071 shares were sold in an open‑market transaction on April 2, 2026 at $45.38 for $320,882. Total proceeds from the sales/withholdings were $1,887,323. Net new shares added to Dippold’s holdings from the vesting event are roughly 37,156 shares (78,384 vested minus 41,228 withheld/sold).
Key Details
- Transaction dates and prices:
- Vesting/conversion and tax-withholding: April 1, 2026; tax withholding at $45.86 (various share lots totaling 34,157 shares; $1,566,441).
- Open-market sale: April 2, 2026; 7,071 shares at $45.38 for $320,882.
- Shares reported disposed (total): 41,228; shares acquired from vesting/conversion: 78,384.
- Shares owned after the transaction: Not specified in this Form 4.
- Notable footnotes:
- PRSUs and RSUs awarded in April 2023/under the 2022 Omnibus Plan vested based on certified performance (F1, F3) or scheduled vesting (F5–F7).
- Shares were withheld by the issuer to satisfy tax withholding requirements (F2).
- The open-market sale was effected under a Rule 10b5-1 trading plan adopted June 13, 2025 (F4).
- Filing timeliness: Form filed April 3, 2026 for transactions on April 1–2, 2026 (appears timely under Form 4 rules).
Context
- These transactions are primarily the result of equity awards vesting (PRSUs/RSUs). The tax-withholding entries represent shares retained by the company to cover withholding obligations, and the separate sale was made under a pre-existing 10b5‑1 plan. Such vesting-and-withholding events are routine and differ from discretionary open-market purchases, which are generally considered stronger bullish signals. The derivative-code (M) entries reflect conversion/exercise of award units into shares; code F entries reflect shares used to satisfy tax liabilities.
Insider Transaction Report
Form 4
Dippold Michael
EVP and CFO
Transactions
- Award
Common Stock
[F3]2026-04-01+22,378→ 68,522 total - Award
Common Stock
[F1]2026-04-01+33,380→ 60,002 total - Tax Payment
Common Stock
[F2]2026-04-01$45.86/sh−13,858$635,528→ 46,144 total - Tax Payment
Common Stock
[F2]2026-04-01$45.86/sh−10,093$462,865→ 58,429 total - Exercise/Conversion
Common Stock
2026-04-01+10,360→ 68,789 total - Tax Payment
Common Stock
[F2]2026-04-01$45.86/sh−4,673$214,304→ 64,116 total - Exercise/Conversion
Common Stock
2026-04-01+6,815→ 70,931 total - Tax Payment
Common Stock
[F2]2026-04-01$45.86/sh−3,074$140,974→ 67,857 total - Exercise/Conversion
Common Stock
2026-04-01+5,451→ 73,308 total - Tax Payment
Common Stock
[F2]2026-04-01$45.86/sh−2,459$112,770→ 70,849 total - Sale
Common Stock
[F4]2026-04-02$45.38/sh−7,071$320,882→ 63,778 total - Exercise/Conversion
Restricted Stock Unit
[F5]2026-04-01−10,360→ 0 total→ Common Stock (10,360 underlying) - Exercise/Conversion
Restricted Stock Unit
[F6]2026-04-01−6,815→ 6,816 total→ Common Stock (6,815 underlying) - Exercise/Conversion
Restricted Stock Unit
[F7]2026-04-01−5,451→ 10,902 total→ Common Stock (5,451 underlying)
Footnotes (7)
- [F1]Represents performance restricted stock units ("PRSUs") awarded in April 2023 under the Issuer's 2022 Omnibus Equity Compensation Plan (the "Plan") for the performance period January 1, 2023 through December 31, 2025, for which performance goals have been achieved and certified on February 19, 2026. Each PRSU represents the right to one share of the Issuer's common stock. The PRSUs vested on April 1, 2026.
- [F2]Shares withheld by the Issuer to satisfy tax withholding requirements.
- [F3]Represents PRSUs awarded in April 2023 under the Plan for the performance period January 1, 2023 through December 31, 2025, for which performance goals have been achieved and certified on February 19, 2026. Each PRSU represents the right to one share of the Issuer's common stock. The PRSUs vested on April 1, 2026.
- [F4]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
- [F5]Each restricted stock unit ("RSU") was granted under the Plan, and represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof. One-third of the RSUs vested on each of April 1, 2024 and April 1, 2025. The remaining one-third of RSUs vested on April 1, 2026.
- [F6]Each RSU was granted under the Plan and represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof. One-third of the RSUs vested on each of April 1, 2025 and April 1, 2026. The remaining one-third of RSUs are scheduled to vest on April 1, 2027, subject to the Reporting Person's continued employment with the Issuer through such date.
- [F7]Each RSU was granted under the Plan, and represents a contingent right to receive one share of the common stock of the Issuer or the cash equivalent thereof. One-third of the RSUs vested on April 1, 2026. The remaining RSUs are scheduled to vest one-third annually on each of April 1, 2027 and April 1, 2028, subject to the Reporting Person's continued employment with the Issuer through each date.
Signature
/s/ Oriana D. Pietrangelo, Attorney-in-Fact|2026-04-03