Leonardo DRS (NYSE: DRS) COO logs stock awards, tax withholdings and 10b5-1 sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Leonardo DRS EVP and COO Sally Wallace reported multiple equity compensation transactions and an open-market sale of company stock. On April 2, 2026, she sold 28,960 shares of common stock at a weighted average price of $46.35 per share under a pre-arranged Rule 10b5-1 trading plan, and now directly holds 58,353 shares of common stock.
On April 1, 2026, previously granted performance restricted stock units (PRSUs) and other restricted stock units (RSUs) vested and were converted into common stock, and additional stock awards were granted under the company’s 2022 Omnibus Equity Compensation Plan. In connection with these vestings, the issuer withheld shares to cover tax withholding requirements, which are reported as dispositions but are not open-market sales.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 28,960 shares ($1,342,296)
Net Sell
14 txns
Insider
Wallace Sally
Role
EVP, Chief Operating Officer
Sold
28,960 shs ($1.34M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 28,960 | $46.35 | $1.34M |
| Exercise | Restricted Stock Unit | 7,252 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 4,337 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 3,042 | $0.00 | -- |
| Grant/Award | Common Stock | 23,367 | $0.00 | -- |
| Tax Withholding | Common Stock | 9,839 | $45.86 | $451K |
| Grant/Award | Common Stock | 15,664 | $0.00 | -- |
| Tax Withholding | Common Stock | 7,684 | $45.86 | $352K |
| Exercise | Common Stock | 7,252 | $0.00 | -- |
| Tax Withholding | Common Stock | 3,558 | $45.86 | $163K |
| Exercise | Common Stock | 4,337 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,128 | $45.86 | $98K |
| Exercise | Common Stock | 3,042 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,493 | $45.86 | $68K |
Holdings After Transaction:
Common Stock — 58,353 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 August 6, 2025. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.205 - $46.98, inclusive. The Reporting Person undertakes to provide upon request by the Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. 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. The Reporting Person's Form 4 filed on April 3, 2025, incorrectly overstated the total number of derivative securities remaining after the vesting of RSUs was 20,263 on April 1, 2025, this number should have stated 7,252 RSUs. This was a result of an inadvertent administrative error. 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 Reporting Person's Form 4 filed on April 3, 2025, incorrectly overstated the total number of derivative securities remaining after the vesting of RSUs was 15,926 on April 1, 2025, this number should have stated 8,674 RSUs. This was a result of an inadvertent administrative error. 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
Open-market sale: 28,960 shares at $46.35
Shares held after transactions: 58,353 shares
RSUs exercised: 14,631 units
+5 more
8 metrics
Open-market sale
28,960 shares at $46.35
Common Stock sale on April 2, 2026 under Rule 10b5-1 plan
Shares held after transactions
58,353 shares
Direct common stock ownership following April 2, 2026 sale
RSUs exercised
14,631 units
Total Restricted Stock Units converted to common stock on April 1, 2026
Tax withholding shares
24,702 shares
Common Stock withheld by issuer to satisfy tax requirements on April 1, 2026
New stock awards
39,031 shares
Common Stock granted via awards on April 1, 2026
10b5-1 plan adoption date
August 6, 2025
Date Sally Wallace adopted the Rule 10b5-1 trading plan
Tax withholding sale price
$45.86 per share
Price used for F-code tax-withholding dispositions of common stock
Open-market sale price range
$45.205–$46.98
Range of prices for the April 2, 2026 sale, reported as weighted average
Key Terms
Rule 10b5-1 trading plan, performance restricted stock units, Restricted Stock Unit, tax withholding requirements, +2 more
6 terms
Rule 10b5-1 trading plan financial
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 6, 2025."
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.
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.
Restricted Stock Unit financial
"Each restricted stock unit ("RSU") was granted under the Plan, and represents a contingent right to receive one share of the common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax withholding requirements financial
"Shares withheld by the Issuer to satisfy tax withholding requirements."
2022 Omnibus Equity Compensation Plan financial
"awarded in April 2023 under the Issuer's 2022 Omnibus Equity Compensation Plan (the "Plan")"
performance period financial
"for the performance period January 1, 2023 through December 31, 2025, for which performance goals have been achieved and certified"
The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.
FAQ
What did Leonardo DRS (DRS) executive Sally Wallace report in this Form 4?
Sally Wallace reported a mix of equity compensation events and one open-market stock sale. Several restricted stock units vested and converted into common shares, new stock awards were granted, and some shares were withheld for taxes, alongside a planned Rule 10b5-1 sale.
What role did restricted stock units play in this Leonardo DRS (DRS) Form 4?
Previously granted PRSUs and RSUs vested and were converted into common stock for Sally Wallace. These units were awarded under the 2022 Omnibus Equity Compensation Plan, tied to performance goals and time-based vesting schedules, increasing her equity before tax withholding and the later sale.