Mercury Systems Inc. filings document the regulatory record for a Massachusetts aerospace and defense technology company listed on Nasdaq under MRCY. Recent Form 8-K reports furnish earnings releases and presentations for quarterly and fiscal results, including GAAP operating measures and non-GAAP measures such as adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow.
The company’s filings also record material financing and governance matters. Disclosures include amendments to its credit agreement and revolving credit facility, borrowing capacity, maturity, leverage-ratio provisions, and related covenant terms. Proxy and annual meeting filings cover director elections, executive compensation, shareholder voting results, long-term incentive plan approval, and other board and compensation governance items.
Mercury Systems (MRCY): Director stock sale. A director reported selling 1,700 shares of common stock on 11/07/2025 at $73.9906 per share (Form 4, code S). After this transaction, the director directly owns 16,833 shares. The filing was made by one reporting person and was signed by an attorney-in-fact on 11/10/2025.
Mercury Systems, Inc. filed a Form S-8 to register 1,900,000 shares of common stock for issuance under its 2025 Long Term Incentive Plan. The filing states it is being made solely to cover these shares for awards to plan participants.
The company incorporates by reference its most recent Annual Report on Form 10-K (fiscal year ended June 27, 2025), Proxy Statement (as specifically incorporated), Quarterly Report on Form 10-Q for the quarter ended September 26, 2025, and certain Current Reports on Form 8-K. Standard Massachusetts indemnification provisions and related company bylaws and insurance are described, and customary exhibits include the LTIP, legal opinion, and consents.
Mercury Systems (MRCY) reported first-quarter fiscal 2026 results. Net revenues were $225,209, up from $204,431 a year ago. Gross margin was $62,899. The company posted a loss from operations of $(8,597) and a net loss of $(12,515), or $(0.21) per share. Cash from operating activities improved to $2,182 from $(14,660) in the prior year. Cash and cash equivalents were $304,716 and long‑term debt was $591,500.
Revenue mix included $111,466 from C4I applications. Remaining performance obligations totaled $782,643, with 54% expected over the next 12 months. The company reduced its workforce by about 40 positions, recording $1,584 in severance. Subsequent to quarter-end, the board authorized a share repurchase program of up to $200,000, and the revolving credit facility was amended to an $850,000 facility maturing on November 4, 2030. Major customers each contributing 10%+ of revenue included Lockheed Martin (13%), RTX (10%), and Northrop Grumman (10%). Shares outstanding were 60,100,136 as of October 31, 2025.
Mercury Systems (MRCY) amended its credit agreement and authorized a share repurchase program. The company entered Amendment No. 7, establishing a new five-year revolving credit facility with $850.0 million in commitments maturing on November 4, 2030, and terminating the prior $900.0 million revolver. Wells Fargo becomes administrative agent, succeeding Bank of America.
Key terms include removing credit spread adjustments, increasing unrestricted cash netting in leverage calculations to $225.0 million, updating the definition of consolidated EBITDA, permitting up to $100.0 million in receivables factoring, and adding a springing senior secured net leverage covenant triggered by issuance of at least $350.0 million of convertible or senior unsecured debt. Borrowings outstanding were $591.5 million both before and after closing. The Board separately authorized repurchases of up to $200.0 million of common stock with no expiration, via open market or privately negotiated transactions.
Mercury Systems (MRCY) reported results of its 2025 Annual Meeting. Shareholders elected Class I directors William L. Ballhaus, Lisa S. Disbrow, and Howard L. Lance for three-year terms, and elected Jean Bua as a Class II director for a one-year term. The advisory vote on executive compensation passed, and the 2025 Long Term Incentive Plan was approved.
Auditor KPMG LLP was ratified. Following the meeting, the Board named William L. Ballhaus as Chairman and Barry R. Nearhos as Lead Independent Director, and set committee memberships for the coming year, including Barry R. Nearhos (Audit Chair), Lisa S. Disbrow (Government Relations Chair), Howard L. Lance (Human Capital and Compensation Chair), Orlando P. Carvalho (M&A and Finance Chair), and Barry R. Nearhos (Nominating and Governance Chair).
Mercury Systems (MRCY) reported a director’s acquisition of 2,362 deferred stock units (recorded as common stock with footnote) at $0 on 10/22/2025. Following the transaction, the director beneficially owns 7,815 shares directly.
The filing notes these are deferred stock units (DSUs) that vest on the earlier of the first anniversary of the grant date or the next annual meeting of shareholders. Vested DSUs convert into common stock only when the director ceases to serve on the Board.
Mercury Systems (MRCY): JANA Partners Management, LP filed a Form 4 reporting the acquisition of 2,362 shares of common stock on 10/22/2025 at a price of $0, recorded as director compensation via deferred stock units (DSUs). Following the transaction, 5,966,675 shares are reported as indirectly beneficially owned. The DSUs vest on the earlier of the first anniversary of the grant date or the next annual meeting of shareholders, and convert into common stock only when Scott Ostfeld ceases to serve on the board.
Mercury Systems (MRCY) reported a director acquisition of equity under a routine compensation grant. On 10/22/2025, the director acquired 2,362 deferred stock units (DSUs) at $0.
The DSUs vest on the earlier of the first anniversary of the grant date or the next annual meeting of shareholders, and convert into common stock only when the director leaves the Board. Following the transaction, the director’s beneficial ownership was 18,533 shares, held directly.
Mercury Systems (MRCY) reported an insider transaction on 10/22/2025. A director acquired 2,362 deferred stock units (DSUs) at a price of $0.
The DSUs vest on the earlier of the first anniversary of the grant date and the next annual meeting of shareholders, and they convert into common stock only when the director ceases to serve on the Board. After the grant, the reporting person beneficially owned 17,481 shares, held directly.
Mercury Systems (MRCY) reported a director’s equity award on Form 4. On 10/22/2025, the director acquired 2,362 deferred stock units (DSUs) at $0 per unit.
Following this transaction, the director beneficially owns 30,605 shares directly, plus 3,500 shares indirectly through a spouse. The DSUs vest on the earlier of the first anniversary of the grant date or the next annual meeting of shareholders and convert into common stock when the director leaves the Board.