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Leonardo DRS, Inc.·4

Apr 3, 5:12 PM ET

Dippold Michael 4

Research Summary

AI-generated summary

Updated

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.