L3Harris (LHX) director Lewis Hay III granted 661 deferred share units
Rhea-AI Filing Summary
HAY LEWIS III reported acquisition or exercise transactions in this Form 4 filing.
L3Harris Technologies director Lewis Hay III reported an equity-based compensation award rather than an open-market trade. He received a grant of 661 shares of common stock as director share units in respect of his non-employee director equity retainer. These units generally vest on May 11, 2027, subject to continued board service, and will be settled in common shares after his separation from service under a prior deferral election. Following this award, he directly holds 7,419.34 shares of common stock, which include 89.29 phantom stock units credited as dividends, and indirectly holds 14,078 shares through a grantor retained annuity trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 661 shares
Net Buy
2 txns
Insider
HAY LEWIS III
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, Par Value $1.00 | 661 | $0.00 | $0.00 |
| holding | Common Stock Par Value $1.00 | -- | -- | -- |
Holdings After Transaction:
Common Stock, Par Value $1.00 — 7,419.34 shares (Direct);
Common Stock Par Value $1.00 — 14,078 shares (Indirect, By grantor retained annuity trust)
Footnotes (3)
- F1. Represents an award of director share units in respect of the non-employee director's equity-based retainer, which generally will vest on May 11, 2027, subject to the non-employee director's continued service and the terms and conditions of the director share unit agreement. Pursuant to a prior election to defer such units upon vesting, such units will be settled in shares of common of stock upon the reporting person's separation from service with the Issuer.
- F2. Includes 89.29 phantom stock units acquired through dividend credits since last reported by the reporting person.
- F3. Shares previously reported as indirectly held by the Hay Second Family Limited Partnership were contributed by the reporting person to a grantor retained annuity trust on 12/12/2025.
Key Figures
Director share units granted: 661 shares
Direct holdings after grant: 7,419.34 shares
Indirect holdings via trust: 14,078 shares
+2 more
5 metrics
Director share units granted
661 shares
Equity-based retainer award on May 11, 2026
Direct holdings after grant
7,419.34 shares
Common stock held directly following reported transactions
Indirect holdings via trust
14,078 shares
Common stock held by grantor retained annuity trust
Phantom stock units from dividends
89.29 units
Dividend credit phantom units included in direct holdings
Grant price per share
$0.0000 per share
Compensation grant, not open-market purchase
Key Terms
director share units, phantom stock units, grantor retained annuity trust, equity-based retainer
4 terms
phantom stock units financial
"Includes 89.29 phantom stock units acquired through dividend credits since last reported"
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
grantor retained annuity trust financial
"contributed by the reporting person to a grantor retained annuity trust on 12/12/2025"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
equity-based retainer financial
"in respect of the non-employee director's equity-based retainer, which generally will vest on May 11, 2027"
FAQ
What did L3Harris (LHX) director Lewis Hay III report in this Form 4?
Lewis Hay III reported receiving 661 director share units of L3Harris common stock as part of his equity-based retainer. This is a compensation-related grant, not an open-market purchase or sale, and reflects routine non-employee director equity compensation.
What are the phantom stock units mentioned in Lewis Hay III’s L3Harris (LHX) filing?
Phantom stock units are bookkeeping entries tracking the value of L3Harris stock, often used in deferred compensation. The filing notes 89.29 phantom stock units were acquired through dividend credits since last reported, and they are included within his direct holdings total.
AI-generated analysis. How Rhea-AI works. Not financial advice.
