L3Harris (LHX) director Geraghty granted 149.71 phantom stock units in comp plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
L3Harris Technologies director Joanna Geraghty reported a routine equity-based compensation change. She acquired 149.71 phantom stock units of common stock at a reference price of $292.93 per share under the company’s 2019 Non-Employee Director Compensation Plan, reflecting her prior election to defer quarterly cash retainers.
After this grant, she holds 5,708.14 phantom stock units tied to L3Harris common stock. The footnotes explain that these phantom units are settled solely in shares of common stock when she separates from board service, and the total includes 17.14 units credited from dividends since her last report.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Geraghty Joanna
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, Par Value $1.00 | 149.71 | $292.93 | $44K |
Holdings After Transaction:
Common Stock, Par Value $1.00 — 5,708.14 shares (Direct, null)
Footnotes (1)
- Represents a credit of phantom stock units under the L3Harris Technologies, Inc. 2019 Non-Employee Director Compensation Plan (the "Plan") pursuant to the reporting person's prior election to defer non-employee director quarterly cash retainers. Phantom stock units are subject to settlement solely in shares of the Issuer's common stock upon the reporting person's separation from service with the Issuer. Includes 17.14 phantom stock units acquired through dividend credits under the Plan since last reported by the reporting person.
Key Figures
Phantom units granted: 149.71 units
Reference price per unit: $292.93 per share
Total phantom units after transaction: 5,708.14 units
+1 more
4 metrics
Phantom units granted
149.71 units
Grant under 2019 Non-Employee Director Compensation Plan
Reference price per unit
$292.93 per share
Price used to credit phantom stock units
Total phantom units after transaction
5,708.14 units
Holdings following reported acquisition
Dividend credit units
17.14 units
Phantom stock units from dividend credits since last report
Key Terms
phantom stock units, 2019 Non-Employee Director Compensation Plan, defer non-employee director quarterly cash retainers, dividend credits
4 terms
phantom stock units financial
"Represents a credit of phantom stock units under the L3Harris Technologies, Inc. 2019 Non-Employee Director Compensation Plan"
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.
2019 Non-Employee Director Compensation Plan financial
"under the L3Harris Technologies, Inc. 2019 Non-Employee Director Compensation Plan (the "Plan")"
defer non-employee director quarterly cash retainers financial
"pursuant to the reporting person's prior election to defer non-employee director quarterly cash retainers"
dividend credits financial
"Includes 17.14 phantom stock units acquired through dividend credits under the Plan"
FAQ
What insider transaction did L3Harris (LHX) director Joanna Geraghty report?
Joanna Geraghty reported an acquisition of 149.71 phantom stock units of L3Harris common stock. These units were credited as part of her non-employee director compensation, reflecting deferred cash retainers under the company’s 2019 plan rather than an open-market share purchase.
At what price were Joanna Geraghty’s L3Harris phantom stock units credited?
The phantom stock units were credited at a reference price of $292.93 per share. This price is used to determine the number of units awarded when deferring quarterly cash retainers under the director compensation plan, rather than representing a traditional market purchase transaction.
How many L3Harris phantom stock units does Joanna Geraghty hold after this Form 4?
Following the reported transaction, Joanna Geraghty holds 5,708.14 phantom stock units. This balance includes the newly credited 149.71 units and 17.14 additional units received through dividend credits under the non-employee director compensation plan since her prior reported holdings.
What are phantom stock units in L3Harris (LHX) director compensation?
Phantom stock units track the value of L3Harris common stock but are not actual shares until settlement. Under the 2019 Non-Employee Director Compensation Plan, they are credited when directors defer cash retainers and are settled solely in common stock upon separation from board service.