What prices were used for Leonardo DRS (DRS) tax-withholding share dispositions?

Tax-withholding dispositions used prices of $45.86 and $45.85 per share for a total of 42,016 shares. These prices apply only to shares withheld by the company to satisfy tax obligations associated with the CEO’s vested equity awards, not to open-market trading.

Leonardo DRS (DRS) CEO reports RSU vesting, awards and tax-share withholding

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Leonardo DRS, Inc. President and CEO John Baylouny reported multiple equity compensation transactions on April 1, 2026. He exercised or converted performance and time-based restricted stock units into a total of 26,960 shares of common stock and received additional stock awards as part of his compensation.

To cover tax obligations, 42,016 shares of common stock were withheld by the company at prices around $45.85 per share, which is a tax-withholding mechanism rather than an open-market sale. After these exercises, awards, and withholdings, he directly holds 158,906 shares of Leonardo DRS common stock.

Insider Trade Summary

26,960 shares exercised/converted

Mixed 13 txns

Insider Baylouny John

Role President and CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	12,627	$0.00	--
Exercise	Restricted Stock Unit	8,325	$0.00	--
Exercise	Restricted Stock Unit	6,008	$0.00	--
Grant/Award	Common Stock	40,681	$0.00	--
Tax Withholding	Common Stock	17,555	$45.86	$805K
Grant/Award	Common Stock	27,274	$0.00	--
Tax Withholding	Common Stock	12,301	$45.85	$564K
Exercise	Common Stock	12,627	$0.00	--
Tax Withholding	Common Stock	5,695	$45.86	$261K
Exercise	Common Stock	8,325	$0.00	--
Tax Withholding	Common Stock	3,755	$45.86	$172K
Exercise	Common Stock	6,008	$0.00	--
Tax Withholding	Common Stock	2,710	$45.86	$124K

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 146,688 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. 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 RSUs vested one-third 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. The number of RSUs that vest on each of April 1, 2025 and April 1, 2026 shall be rounded down to the nearest whole number of RSUs and the remaining RSUs shall vest on April 1, 2027. 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. The number of RSUs that vest on each of April 1, 2026 and April 1, 2027 shall be rounded down to the nearest whole number of RSUs and the remaining RSUs shall vest on April 1, 2028.

Key Figures

RSU/PRSU shares exercised: 26,960 shares Tax-withheld shares: 42,016 shares Tax withholding prices: $45.86 and $45.85 per share +3 more

6 metrics

RSU/PRSU shares exercised 26,960 shares Restricted stock units and performance units converted on April 1, 2026

Tax-withheld shares 42,016 shares Shares withheld to satisfy tax obligations on April 1, 2026

Tax withholding prices $45.86 and $45.85 per share Prices used for F-code tax-withholding share dispositions

New stock awards 67,955 shares Common stock grants recorded with code A at $0.00 per share

Shares held after transactions 158,906 shares Direct common stock ownership after April 1, 2026 activity

Individual RSU exercises 12,627; 8,325; 6,008 shares Three RSU/PRSU tranches exercised into common stock

Key Terms

performance restricted stock units, PRSUs, restricted stock unit ("RSU"), Omnibus Equity Compensation Plan, +1 more

5 terms

performance restricted stock units financial

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

Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.

PRSUs financial

"Each PRSU represents the right to one share of the Issuer's common stock"

A PRSU is a type of employee equity award that turns into actual company shares only if preset performance goals are met over a specified time. Think of it like a prize that only pays out when a team hits agreed targets; investors watch PRSUs because they tie management pay to results, can increase the number of shares outstanding when paid, and therefore affect shareholder value and incentives.

restricted stock unit ("RSU") financial

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

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 - 05:06 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^*

Baylouny John

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

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		40,681⁽¹⁾	A	$0	146,688	D
Common Stock	04/01/2026		F⁽²⁾		17,555	D	$45.86	129,133	D
Common Stock	04/01/2026		A		27,274⁽³⁾	A	$0	156,407	D
Common Stock	04/01/2026		F⁽²⁾		12,301	D	$45.85	144,106	D
Common Stock	04/01/2026		M		12,627	A	$0	156,733	D
Common Stock	04/01/2026		F⁽²⁾		5,695	D	$45.86	151,038	D
Common Stock	04/01/2026		M		8,325	A	$0	159,363	D
Common Stock	04/01/2026		F⁽²⁾		3,755	D	$45.86	155,608	D
Common Stock	04/01/2026		M		6,008	A	$0	161,616	D
Common Stock	04/01/2026		F⁽²⁾		2,710	D	$45.86	158,906	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	⁽⁴⁾	04/01/2026		M			12,627	⁽⁴⁾	⁽⁴⁾	Common Stock	12,627	$0	0	D
Restricted Stock Unit	⁽⁵⁾	04/01/2026		M			8,325	⁽⁵⁾	⁽⁵⁾	Common Stock	8,325	$0	8,327	D
Restricted Stock Unit	⁽⁶⁾	04/01/2026		M			6,008	⁽⁶⁾	⁽⁶⁾	Common Stock	6,008	$0	12,018	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. 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 RSUs vested one-third on April 1, 2026.

5. 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. The number of RSUs that vest on each of April 1, 2025 and April 1, 2026 shall be rounded down to the nearest whole number of RSUs and the remaining RSUs shall vest on April 1, 2027.

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 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. The number of RSUs that vest on each of April 1, 2026 and April 1, 2027 shall be rounded down to the nearest whole number of RSUs and the remaining RSUs shall vest on April 1, 2028.

Remarks:

Exhibit 24.1 - Power of Attorney

	/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) CEO John Baylouny report?

John Baylouny reported equity compensation activity on April 1, 2026. He exercised restricted stock units into common shares, received new stock awards, and had shares withheld to cover taxes, all under the company’s equity compensation plan rather than through market purchases or sales.

How many Leonardo DRS (DRS) shares did the CEO acquire through RSU and PRSU exercises?

He exercised or converted restricted stock units into 26,960 shares of Leonardo DRS common stock. These included performance-based and time-based awards granted under the company’s 2022 Omnibus Equity Compensation Plan, which vested after performance goals were certified and service conditions were met.

Were any of the Leonardo DRS (DRS) CEO’s transactions open-market sales?

No open-market sales were reported. Shares labeled with transaction code F, totaling 42,016, were withheld by Leonardo DRS to satisfy tax withholding requirements at prices around $45.85 per share. This tax withholding is a non-market disposition tied to equity award vesting.

How many Leonardo DRS (DRS) shares does the CEO hold after these Form 4 transactions?

Following the April 1, 2026 transactions, John Baylouny directly holds 158,906 shares of Leonardo DRS common stock. This figure reflects RSU and PRSU exercises, new stock awards credited to him, and shares withheld by the company to cover associated tax obligations.

What new stock awards did the Leonardo DRS (DRS) CEO receive on April 1, 2026?

He received two grants of common stock totaling 67,955 shares, recorded with transaction code A at zero price per share. These represent stock awards under the company’s equity compensation plan, separate from the RSUs and PRSUs that vested and were converted into shares.