Leonardo DRS (NYSE: DRS) SVP logs RSU vesting, awards and tax withholding

Rhea-AI Filing Summary

Leonardo DRS, Inc. SVP and Controller Pamela Morrow reported compensation-related equity activity, not open-market trading. On April 1, 2026, she exercised restricted stock units into a total of 7,657 shares of common stock and received additional stock awards of 10,432 and 6,993 shares, all at a stated price of $0.00 per share as part of company plans.

To cover tax obligations on these vestings, 9,480 shares were withheld by the company at $45.86 per share under tax-withholding transactions, which are not open-market sales. After these exercises, awards, and tax withholdings, she directly held 22,096 shares of Leonardo DRS common stock. Footnotes explain that the units were granted under the 2022 Omnibus Equity Compensation Plan, including performance-based RSUs for a 2023–2025 performance period whose goals were certified on February 19, 2026 and time-based RSUs that vest over multiple years.

Insights

Equity compensation analyst

Routine RSU/PRSU vesting, tax withholding, and awards with no open-market trades.

The filing shows Pamela Morrow converting performance and time-based RSUs into common stock and receiving new stock awards under Leonardo DRS’s 2022 Omnibus Equity Compensation Plan. These are standard compensation events tied to previously granted equity, not discretionary market purchases or sales.

Code F transactions totaling 9,480 shares at $45.86 per share are explicitly for tax withholding, meaning shares were delivered back to the issuer to satisfy tax liabilities rather than sold into the market. There are no code P or S entries indicating open-market buying or selling.

After netting exercises, awards, and tax withholding, Morrow directly holds 22,096 shares. With the derivativeSummary empty, this indicates the Form 4 reflects current direct stock ownership and remaining future-vesting RSUs as described narratively in the footnotes. Overall, this appears as routine equity compensation activity with neutral investment significance.

Insider Trade Summary

7,657 shares exercised/converted

Mixed 13 txns

Insider Morrow Pamela

Role SVP and Controller

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	3,239	$0.00	--
Exercise	Restricted Stock Unit	2,517	$0.00	--
Exercise	Restricted Stock Unit	1,901	$0.00	--
Grant/Award	Common Stock	10,432	$0.00	--
Tax Withholding	Common Stock	3,339	$45.86	$153K
Grant/Award	Common Stock	6,993	$0.00	--
Tax Withholding	Common Stock	2,541	$45.86	$117K
Exercise	Common Stock	3,239	$0.00	--
Tax Withholding	Common Stock	1,523	$45.86	$70K
Exercise	Common Stock	2,517	$0.00	--
Tax Withholding	Common Stock	1,183	$45.86	$54K
Exercise	Common Stock	1,901	$0.00	--
Tax Withholding	Common Stock	894	$45.86	$41K

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 16,926 shares (Direct)

Footnotes (1)

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 RSU's 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 10,790 on April 1, 2025, this number should have stated 3,237. 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 8,273 on April 1, 2025, this number should have stated 5,034. 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

RSU/PRSU exercises: 7,657 shares Stock award 1: 10,432 shares Stock award 2: 6,993 shares +5 more

8 metrics

RSU/PRSU exercises 7,657 shares Restricted stock units exercised into common stock on April 1, 2026

Stock award 1 10,432 shares Common stock granted at $0.00 per share on April 1, 2026

Stock award 2 6,993 shares Additional common stock grant at $0.00 per share on April 1, 2026

Tax-withheld shares 9,480 shares Shares withheld to satisfy tax obligations at $45.86 per share

Tax withholding price $45.86 per share Price used for tax-withholding dispositions on common stock

Post-transaction holdings 22,096 shares Common stock directly held by Morrow after April 1, 2026 transactions

Tax-withholding transactions 5 entries Code F dispositions to satisfy tax liabilities

Derivative exercises 3 entries Code M exercises or conversions of restricted stock units

Key Terms

performance restricted stock units ("PRSUs"), restricted stock unit ("RSU"), 2022 Omnibus Equity Compensation Plan, tax withholding requirements, +2 more

6 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"

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."

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

contingent right to receive one share financial

"represents a contingent right to receive one share of the common stock of the Issuer"

Form 4 Insider Transactions: What Each Field Means →

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^*

Morrow Pamela

(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)
	SVP and Controller

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/01/2026		A		10,432(1)	A	$0	16,926	D
Common Stock	04/01/2026		F(2)		3,339	D	$45.86	13,587	D
Common Stock	04/01/2026		A		6,993(3)	A	$0	20,580	D
Common Stock	04/01/2026		F(2)		2,541	D	$45.86	18,039	D
Common Stock	04/01/2026		M		3,239	A	$0	21,278	D
Common Stock	04/01/2026		F(2)		1,523	D	$45.86	19,755	D
Common Stock	04/01/2026		M		2,517	A	$0	22,272	D
Common Stock	04/01/2026		F(2)		1,183	D	$45.86	21,089	D
Common Stock	04/01/2026		M		1,901	A	$0	22,990	D
Common Stock	04/01/2026		F(2)		894	D	$45.86	22,096	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
Restricted Stock Unit	(4)	04/01/2026		M			3,239	(4)	(4)	Common Stock	3,239	$0	0(5)	D
Restricted Stock Unit	(6)	04/01/2026		M			2,517	(6)	(6)	Common Stock	2,517	$0	2,517(7)	D
Restricted Stock Unit	(8)	04/01/2026		M			1,901	(8)	(8)	Common Stock	1,901	$0	3,804	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 RSU's vested on each of April 1, 2024 and April 1, 2025. The remaining RSUs vested one-third on April 1, 2026.

5. 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 10,790 on April 1, 2025, this number should have stated 3,237. This was a result of an inadvertent administrative error.

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. 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 8,273 on April 1, 2025, this number should have stated 5,034. This was a result of an inadvertent administrative error.

8. 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:

	/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)

FAQ

What insider transactions did Leonardo DRS (DRS) SVP Pamela Morrow report?

Pamela Morrow reported RSU and PRSU vesting, derivative exercises, and new stock awards on April 1, 2026. She converted units into common shares and had some shares withheld to cover taxes, reflecting routine equity compensation activity rather than open-market buying or selling.

How many Leonardo DRS (DRS) shares did Pamela Morrow acquire in this Form 4?

Morrow exercised 7,657 restricted stock units into common stock and received additional stock awards of 10,432 and 6,993 shares. These transactions occurred at a stated price of zero under company equity plans, representing compensation rather than open-market purchases of Leonardo DRS stock.

Were any Leonardo DRS (DRS) shares sold on the open market in this Form 4?

No open-market sales are reported. Transactions coded F show 9,480 shares withheld by Leonardo DRS at $45.86 per share to satisfy tax obligations. Such tax-withholding dispositions deliver shares back to the issuer and do not represent discretionary selling into the public market.

How many Leonardo DRS (DRS) shares does Pamela Morrow hold after these transactions?

After all exercises, awards, and tax-withholding entries on April 1, 2026, Morrow directly holds 22,096 shares of Leonardo DRS common stock. This figure reflects her updated direct ownership position following the vesting of performance-based and time-based restricted stock units.

What equity plans and awards are involved in this Leonardo DRS (DRS) Form 4?

The filing references the 2022 Omnibus Equity Compensation Plan, including performance restricted stock units granted in April 2023 for a 2023–2025 performance period and time-based restricted stock units. Footnotes describe vesting on April 1, 2026, with additional tranches scheduled to vest in 2027 and 2028.