L3Harris Technologies, Inc. (LHX) has announced that its Chair and Chief Executive Officer, Christopher E. Kubasik, has established a written pre-arranged plan for the exercise of certain employee stock options and the subsequent sale of shares of the company's common stock. This plan, adopted under Rule 10b5-1 of the Securities Exchange Act of 1934, aligns with the company's policies on securities transactions by executives and was set up during an open trading window.
The plan involves vested options to purchase up to 97,171 shares, which were granted to Mr. Kubasik in 2018 and are set to expire in 2028. According to the plan, shares underlying these unexercised options will be sold on predetermined dates, starting in September 2025 and concluding no later than December 11, 2025, subject to minimum price thresholds specified in the plan.
Importantly, Mr. Kubasik will not have discretion over the sales under this plan, ensuring compliance with regulatory requirements. His ownership interest in L3Harris Technologies remains significantly above the company's stock ownership guidelines. All transactions executed under this plan will be publicly disclosed through Form 4 and Form 144 filings with the U.S. Securities and Exchange Commission.