LDOS Insider Hull Exercises Options and Sells Shares; Beneficial Ownership Falls
Rhea-AI Filing Summary
Stephen Edward Hull, Sector President at Leidos Holdings, Inc. (LDOS), reported multiple transactions on Form 4. On 09/02/2025 he exercised stock options totaling 11,526 options across four option grants at exercise prices of $89.08, $105.08, $96.95 and $129.79, resulting in incremental beneficial ownership increases to 37,895.9809 shares by 09/02/2025. On 09/04/2025 he exercised an additional option for 2,827 shares and simultaneously sold 12,497 shares at a weighted-average price of $178.14, reducing his beneficial ownership to 25,816.9809 shares. The filing corrects a prior clerical error and discloses shares withheld to cover option exercise costs.
Positive
- None.
Negative
- None.
Insights
TL;DR Insider exercised multiple option grants and conducted a large sale, materially reducing direct holdings.
The reporting person exercised several stock options on 09/02/2025 and 09/04/2025, acquiring a total of 14,353 underlying shares via option exercises across four grant vintages. A sale of 12,497 shares on 09/04/2025 at a weighted-average price of $178.14 materially lowered reported beneficial ownership to 25,816.9809 shares. The filing includes a correction to a prior Form 4 and notes shares withheld to satisfy exercise obligations. For investors, this is a mixed signal: option exercises increase stake concentration before the sale, but the subsequent sizable disposition is an outright reduction in reported holdings.
TL;DR Disclosure is thorough; correction and withholding are properly explained, but the large sale is notable for governance review.
The Form 4 documents timely disclosure of option exercises and an associated sale, including an explicit correction to a clerical error on an earlier filing. The filing explains that some shares were withheld to cover exercise price and fees and that the sale was executed in multiple transactions priced between $177.64 and $178.545. From a governance perspective, the form meets reporting standards and provides requisite explanations for withholding and pricing ranges, allowing stakeholders to verify compliance with Section 16 reporting obligations.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 2,827 | $0.00 | -- |
| Exercise | Common Stock | 2,827 | $129.79 | $367K |
| Tax Withholding | Common Stock | 2,409 | $177.71 | $428K |
| Sale | Common Stock | 12,497 | $178.14 | $2.23M |
| Exercise | Stock Option (Right to Buy) | 4,264 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 3,572 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 3,690 | $0.00 | -- |
| Exercise | Common Stock | 4,264 | $89.08 | $380K |
| Exercise | Common Stock | 3,572 | $105.08 | $375K |
| Exercise | Common Stock | 3,690 | $96.95 | $358K |
Footnotes (1)
- Represents shares of common stock withheld by the issuer in connection with the option exercise to cover the exercise price and associated fees. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices from $177.64 to $178.545 inclusive. The reporting person undertakes to providing to Leidos Holdings, Inc., any security holder of Leidos Holdings, Inc., or the staff of the Securities Exchange Commission upon request, full information regarding the number of shares sold at each separate price within the aforementioned range. This filing corrects a clerical error on the reporting person's Form 4 filed on August 19, 2025. On that Form 4, a stock option exercise of 1,421 options was timely and correctly reported. However, the amount shown in Column 9 was inadvertently stated as 2,843. The correct amount for Column 9 on that date was 4,264.
