[Form 4] RTX Corporation Insider Trading Activity

Rhea-AI Filing Summary

IQVIA Holdings Inc. (IQV) – Form 4 insider transaction

Executive Vice President & General Counsel Eric Sherbet exercised 11,870 Stock Appreciation Rights (SARs) at an exercise price of $97.20 on 07/23/2025, converting them into an equal number of common shares.

Immediately after the exercise, Sherbet:

• Sold 5,800 shares at a weighted-average $190.05 (range $189.99–$190.18), generating roughly $1.1 million in gross proceeds.
• Disposed of 6,070 shares at $190.10, likely for tax-withholding.

Following the transactions, Sherbet’s direct ownership decreased to 21,108 common shares; all SARs from the 03/01/2021 grant are now fully exercised, leaving zero derivative securities outstanding.

The activity represents a net sale of the entire 11,870 shares obtained through exercise, with no new open-market purchases. While the executive retains a meaningful equity stake (≈$4.0 million at $190), the sale may signal profit-taking rather than incremental confidence.

Positive

• None.

Negative

• Full disposal of shares obtained from SAR exercise suggests profit-taking rather than increased long-term commitment.
• Net insider sale of 11,870 shares may be interpreted by investors as a bearish timing signal.

Insights

Securities Analyst

TL;DR: Insider exercised SARs then sold all acquired shares, reducing net ownership – mildly negative sentiment.

The Form 4 shows a classic cashless exercise: Sherbet unlocked ~$1.1 million in value by exercising 11.9k SARs at $97.20 and immediately selling/disposing the same number of shares at ≈$190. Post-trade holdings revert to 21.1k shares, so absolute exposure is unchanged versus pre-exercise, but incremental buying power is not added. Because executives usually retain at least part of exercised shares when bullish, this all-out disposition leans negative, albeit modestly. From a liquidity standpoint, the move adds float but does not alter IQV’s capital position. Impact rating: -1 (slightly negative).

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).

1. Name and Address of Reporting Person^*

Maharajh Ramsaran

(Last) (First) (Middle)

1000 WILSON BLVD.

(Street)

ARLINGTON VA 22209

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RTX Corp [ RTX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	07/23/2025		S		1,462	D	$152.2575	13,184	D
Common Stock								3,890	I	By Savings Plan Trustee

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

Explanation of Responses:

	/s/ Jennifer Yahl, as Attorney-in-fact	07/25/2025
	** 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.

FAQ

How many IQV shares did Eric Sherbet sell on 07/23/2025?

He sold 5,800 shares at a weighted-average price of $190.05 and disposed of another 6,070 shares for tax-related purposes.

What was the exercise price of the SARs converted by Sherbet?

The Stock Appreciation Rights were exercised at $97.20 per share.

How many IQV shares does Sherbet own after the transaction?

He now holds 21,108 common shares directly.

Did Sherbet acquire any new IQV shares on the open market?

No. All shares received from the SAR exercise were immediately sold or withheld; there were no open-market purchases.

Are there any SARs or options remaining after this filing?

No. The 11,870 SARs granted 03/01/2021 were fully exercised, leaving zero derivative securities outstanding for this grant.

What is the potential value of Sherbet’s remaining stake?

At roughly $190 per share, his 21,108 shares are worth about $4 million.