[Form 4] Leonardo DRS, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mark Dorfman, EVP, General Counsel and Secretary of Leonardo DRS (DRS), reported insider sales under a Rule 10b5-1 trading plan. The Form 4 shows two dispositions on 09/12/2025: 4,267 shares and 8,534 shares sold at $41.65 per share, totaling 12,801 shares sold. The filing notes the trading plan was adopted on 06/13/2025. Following the reported transactions the form lists beneficial ownership positions of 47,734 shares and 39,200 shares as reported by the reporting person. The form was signed by attorney-in-fact Katherine Krebel on 09/15/2025.

Positive

• Disclosure of 10b5-1 plan adoption (06/13/2025) indicating pre-arranged, compliant trading
• Clear reporting of transaction details including dates, share counts, and price

Negative

• Insider sold 12,801 shares, which reduces the reporting person's shareholding
• No explanatory context provided about purpose of sales beyond 10b5-1 plan

Insights

Corporate Governance Expert

TL;DR: Routine insider sales under a pre-established 10b5-1 plan indicate compliance but reduce the officer's stake.

The Form 4 documents planned sales executed under a Rule 10b5-1 plan adopted 06/13/2025, which supports compliance with insider-trading rules by placing trades on an automated schedule. The filing identifies Mark Dorfman as EVP, General Counsel and Secretary, and shows aggregated sales of 12,801 shares at $41.65 on 09/12/2025. The disclosure of the plan and execution date is standard governance practice and preserves transparency for investors and regulators. No additional governance concerns or amendments were disclosed in this filing.

Securities Analyst

TL;DR: The transactions are material only to the extent of share count sold; they appear routine and not a material corporate event.

The reported disposals total 12,801 shares executed at $41.65 per share on 09/12/2025 under a 10b5-1 plan. The filing reports post-transaction beneficial ownership figures of 47,734 and 39,200 shares as presented on separate reporting lines. There are no derivative transactions or additional amendments in this filing. Given the absence of other events or unusual disclosure, the sale appears to be a routine insider liquidity event rather than an operational or financial development affecting company fundamentals.

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).

1. Name and Address of Reporting Person^*

Dorfman Mark

(Last) (First) (Middle)

C/O LEONARDO DRS, INC.

2345 CRYSTAL DRIVE

(Street)

ARLINGTON VA 22202

(City) (State) (Zip)

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, GC and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/12/2025		S(1)		4,267	D	$41.65	47,734	D
Common Stock	09/12/2025		S(1)		8,534	D	$41.65	39,200	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

Remarks:

	/s/ Katherine Krebel, Attorney-in-Fact	09/15/2025
	** 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.

FAQ

What did Mark Dorfman (DRS) report on Form 4?

The Form 4 reports that Mark Dorfman sold a total of 12,801 shares of Leonardo DRS common stock on 09/12/2025 under a Rule 10b5-1 trading plan.

At what price were the DRS shares sold?

The sales were executed at a price of $41.65 per share as reported on the Form 4.

When was the 10b5-1 trading plan adopted for these DRS transactions?

The Form 4 states the Rule 10b5-1 trading plan was adopted on 06/13/2025.

How many shares of DRS does the reporting person beneficially own after the transactions?

The filing lists beneficial ownership positions of 47,734 shares and 39,200 shares following the reported transactions as presented on the form.

Who signed the Form 4 for Mark Dorfman (DRS)?

The Form 4 was signed by attorney-in-fact Katherine Krebel on 09/15/2025.