RTX Insider Filing: Brunk Converts SARs, Disposes of 18,773 RTX Shares

Rhea-AI Filing Summary

Troy D. Brunk, President of Collins Aerospace and an officer of RTX Corporation, reported multiple transactions in RTX common stock on 08/12/2025. The filing shows the settlement of Stock Appreciation Rights (SARs) into shares: 11,973 shares at an exercise price of $90.73 and 6,800 shares at an exercise price of $94.04. Those acquisitions were recorded as exempt acquisitions under the SAR terms.

The Form 4 also records disposals on the same date: a sale of 7,654 shares at $155.201 and a disposition of 11,119 shares at $155.20. After the reported transactions, Brunk's reported direct beneficial ownership is 5,322.679 shares, with an additional 2,543 shares held indirectly by a savings plan trustee.

Positive

• SARs settled into shares (11,973 and 6,800 shares) showing compensation was converted into equity
• Disclosure includes post-transaction ownership amounts: 5,322.679 direct shares and 2,543 indirect shares

Negative

• Sizable disposals reported: sale of 7,654 shares at $155.201 and disposition of 11,119 shares at $155.20, reducing direct holdings
• Net direct ownership declined to 5,322.679 shares after the reported transactions

Insights

Securities Analyst

TL;DR: Officer exercised SARs to acquire 18,773 shares and concurrently disposed of 18,773 shares, leaving modest direct ownership.

The Form 4 shows an officer-level insider, Troy D. Brunk, exercising Stock Appreciation Rights for 11,973 and 6,800 shares at exercise prices of $90.73 and $94.04, respectively, and recording sales/dispositions totaling 18,773 shares at approximately $155.20 per share. The SAR settlement language indicates the shares acquired were treated as exempt acquisitions and accompanied by a simultaneous sale back to the issuer consistent with award terms. From an investor perspective, these are routine compensation-related transactions that materially change reported holdings but do not, in isolation, convey firm-level news about operations or financial results.

Corporate Governance Expert

TL;DR: Transactions reflect compensation settlement mechanics rather than an explicit trading-policy breach; disclosure shows the post-transaction ownership split.

The filing documents SAR settlements converted to common stock and contemporaneous disposals on 08/12/2025. The report explicitly records the mechanics of SAR settlement and the resulting share counts: direct beneficial ownership of 5,322.679 shares and indirect ownership of 2,543 shares via a savings plan trustee. These entries are significant for transparency and insider-holding records but are presented here as awards settlement and sales rather than evidence of abnormal trading activity.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Brunk Troy D

(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)
	President, Collins Aerospace

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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	08/12/2025		M		11,973(1)	A	$90.73	17,295.679	D
Common Stock	08/12/2025		M		6,800(1)	A	$94.04	24,095.679	D
Common Stock	08/12/2025		S		7,654	D	$155.201	16,441.679	D
Common Stock	08/12/2025		D		11,119	D	$155.2	5,322.679	D
Common Stock								2,543	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
Stock Appreciation Right	$90.73	08/12/2025		M			11,973	02/04/2023	02/03/2030	Common Stock	11,973	$0.0000	0.0000	D
Stock Appreciation Right	$94.04	08/12/2025		M			6,800	02/15/2025	02/14/2032	Common Stock	6,800	$0.0000	0.0000	D

Explanation of Responses:

1. The Stock Appreciation Rights (SARs) were settled in shares in accordance with the terms of the award. For Section 16 reporting purposes, the exercise of SARs for stock is treated as an exempt acquisition of the shares underlying the SARs at the exercise price per share specified in the award of SARs and a simultaneous sale back to the issuer of a number of the underlying shares having a value, based on the market price of the issuer's stock on the date of the exercise, equal to the product of the number of underlying SARs times the exercise price per share.

	/s/ Jennifer Yahl, as Attorney-in-fact	08/13/2025
	** 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).
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FAQ

What did the RTX Form 4 filed for Troy Brunk report?

The Form 4 reports the settlement of Stock Appreciation Rights into 11,973 and 6,800 shares and contemporaneous disposals of 7,654 and 11,119 shares on 08/12/2025.

How many shares were acquired via SAR settlement and at what prices?

SARs were settled into 11,973 shares at an exercise price of $90.73 and 6,800 shares at an exercise price of $94.04.

How many shares were sold or disposed of by Troy Brunk?

The filing shows a sale of 7,654 shares at $155.201 and a disposition of 11,119 shares at $155.20.

What is Troy Brunk’s beneficial ownership after these transactions?

Following the reported transactions, Brunk’s reported direct beneficial ownership is 5,322.679 shares and indirect ownership via a savings plan trustee is 2,543 shares.

Does the Form 4 explain how SARs were treated for reporting?

Yes. The Form 4 states the SARs were settled in shares and, for Section 16 reporting, the exercise was treated as an exempt acquisition with a simultaneous sale back to the issuer equal to the SARs’ exercise price value.