Leonardo DRS (DRS) CFO logs RSU vesting, tax withholding and 7,071-share sale

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Leonardo DRS, Inc. EVP and CFO Michael Dippold reported multiple equity compensation events and a modest stock sale. On April 1, 2026, performance and time-based restricted stock units vested and were converted into common shares, alongside new restricted stock unit awards granted at no cash cost.

To cover tax obligations from these vestings, the company withheld a total of 34,157 common shares through several transactions coded as F. On April 2, 2026, Dippold then executed an open-market sale of 7,071 common shares at $45.38 per share under a pre-arranged Rule 10b5-1 trading plan, and he held 63,778 common shares directly after the sale.

Insider Trade Summary 10b5-1

Net Seller: 7,071 shares ($320,882)

Net Sell 14 txns

Insider Dippold Michael

Role EVP and CFO

Sold 7,071 shs ($321K)

Type	Security	Shares	Price	Value
Sale	Common Stock	7,071	$45.38	$321K
Exercise	Restricted Stock Unit	10,360	$0.00	--
Exercise	Restricted Stock Unit	6,815	$0.00	--
Exercise	Restricted Stock Unit	5,451	$0.00	--
Grant/Award	Common Stock	33,380	$0.00	--
Tax Withholding	Common Stock	13,858	$45.86	$636K
Grant/Award	Common Stock	22,378	$0.00	--
Tax Withholding	Common Stock	10,093	$45.86	$463K
Exercise	Common Stock	10,360	$0.00	--
Tax Withholding	Common Stock	4,673	$45.86	$214K
Exercise	Common Stock	6,815	$0.00	--
Tax Withholding	Common Stock	3,074	$45.86	$141K
Exercise	Common Stock	5,451	$0.00	--
Tax Withholding	Common Stock	2,459	$45.86	$113K

Holdings After Transaction: Common Stock — 63,778 shares (Direct); Restricted Stock Unit — 0 shares (Direct)

Footnotes (1)

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. Shares withheld by the Issuer to satisfy tax withholding requirements. 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. 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. 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. 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. 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.

Key Figures

Open-market sale: 7,071 shares at $45.38 Shares held after transactions: 63,778 shares Derivative exercises: 22,626 shares +3 more

6 metrics

Open-market sale 7,071 shares at $45.38 Common Stock sale on April 2, 2026

Shares held after transactions 63,778 shares Common Stock directly owned following April 2, 2026 sale

Derivative exercises 22,626 shares Total shares from RSU/PRSU exercises (M-code) on April 1, 2026

Tax-withholding shares 34,157 shares Common shares withheld to satisfy tax obligations (F-code)

RSU grant 33,380 shares Common Stock granted via award on April 1, 2026

Additional RSU grant 22,378 shares Common Stock granted via a second award on April 1, 2026

Key Terms

performance restricted stock units ("PRSUs"), restricted stock unit ("RSU"), Rule 10b5-1 trading plan, 2022 Omnibus Equity Compensation Plan, +1 more

5 terms

performance restricted stock units ("PRSUs") financial

"Represents performance restricted stock units ("PRSUs") awarded in April 2023 under the Issuer's 2022 Omnibus Equity Compensation Plan"

restricted stock unit ("RSU") financial

"Each restricted stock unit ("RSU") was granted under the Plan, and represents a contingent right to receive one share"

Rule 10b5-1 trading plan regulatory

"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

2022 Omnibus Equity Compensation Plan financial

"awarded in April 2023 under the Issuer's 2022 Omnibus Equity Compensation Plan (the "Plan")"

tax withholding requirements financial

"Shares withheld by the Issuer to satisfy tax withholding requirements."

Form 4 Insider Transactions: What Each Field Means →

04/03/2026 - 05:12 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Dippold Michael

(Last)

(First)

(Middle)

C/O LEONARDO DRS, INC.

2345 CRYSTAL DRIVE

(Street)

ARLINGTON

VIRGINIA

22202

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Leonardo DRS, Inc. [ DRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP and CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/01/2026		A		33,380⁽¹⁾	A	$0	60,002	D
Common Stock	04/01/2026		F⁽²⁾		13,858	D	$45.86	46,144	D
Common Stock	04/01/2026		A		22,378⁽³⁾	A	$0	68,522	D
Common Stock	04/01/2026		F⁽²⁾		10,093	D	$45.86	58,429	D
Common Stock	04/01/2026		M		10,360	A	$0	68,789	D
Common Stock	04/01/2026		F⁽²⁾		4,673	D	$45.86	64,116	D
Common Stock	04/01/2026		M		6,815	A	$0	70,931	D
Common Stock	04/01/2026		F⁽²⁾		3,074	D	$45.86	67,857	D
Common Stock	04/01/2026		M		5,451	A	$0	73,308	D
Common Stock	04/01/2026		F⁽²⁾		2,459	D	$45.86	70,849	D
Common Stock	04/02/2026		S⁽⁴⁾		7,071	D	$45.38	63,778	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽⁵⁾	04/01/2026		M			10,360	⁽⁵⁾	⁽⁵⁾	Common Stock	10,360	$0	0	D
Restricted Stock Unit	⁽⁶⁾	04/01/2026		M			6,815	⁽⁶⁾	⁽⁶⁾	Common Stock	6,815	$0	6,816	D
Restricted Stock Unit	⁽⁷⁾	04/01/2026		M			5,451	⁽⁷⁾	⁽⁷⁾	Common Stock	5,451	$0	10,902	D

Explanation of Responses:

1. 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.

2. Shares withheld by the Issuer to satisfy tax withholding requirements.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

Remarks:

	/s/ Oriana D. Pietrangelo, Attorney-in-Fact	04/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Leonardo DRS (DRS) CFO Michael Dippold report?

Michael Dippold reported vesting and conversion of performance and time-based restricted stock units into common shares, related tax-withholding share dispositions, and an open-market sale of 7,071 Leonardo DRS common shares under a Rule 10b5-1 trading plan, while retaining a substantial remaining common stock position.

How many Leonardo DRS (DRS) shares did the CFO sell and at what price?

The CFO sold 7,071 Leonardo DRS common shares in an open-market transaction at a price of $45.38 per share. This sale occurred on April 2, 2026 and was executed pursuant to a pre-arranged Rule 10b5-1 trading plan disclosed in the filing’s footnotes.

How many Leonardo DRS (DRS) shares does the CFO hold after these transactions?

After the reported transactions, Michael Dippold directly holds 63,778 Leonardo DRS common shares. This figure reflects equity awards that vested, shares withheld to satisfy tax obligations, and the subsequent open-market sale of 7,071 shares executed under an established Rule 10b5-1 trading plan.

What role did restricted stock units play in the Leonardo DRS (DRS) Form 4?

The Form 4 shows multiple restricted stock unit and performance restricted stock unit awards for the CFO vesting and converting into Leonardo DRS common shares. These equity awards were granted under the company’s 2022 Omnibus Equity Compensation Plan and vest over several years based on service and performance conditions.

Were any Leonardo DRS (DRS) shares disposed of for tax withholding purposes?

Yes. The filing reports several transactions coded F where Leonardo DRS common shares were withheld by the company to satisfy tax withholding requirements. In total, 34,157 shares were used this way, reflecting non-market dispositions tied directly to the vesting of restricted and performance-based stock units.

Was the Leonardo DRS (DRS) CFO’s stock sale discretionary or pre-planned?

The CFO’s sale of 7,071 Leonardo DRS common shares was executed under a Rule 10b5-1 trading plan adopted on June 13, 2025. Such plans are pre-arranged trading programs, which means the timing and amount of the sale were established in advance, reducing discretionary timing concerns.