Leonardo DRS Exec Sells Shares: Stock Jumps After Sale

Leonardo DRS Exec Sells Shares: Should Investors Be Concerned?

According to a recent SEC filing, Pamela Morrow, Senior Vice President and Controller at Leonardo DRS, Inc., carried out a significant stock transaction. Morrow sold 8,854 shares of ordinary stock on March 18 for around $290,765 at an average price of $32.84. Since then, the stock has increased to $34.97, indicating the company’s impressive 50.5% gain in the last 12 months.

Morrow’s Leonardo DRS Stock Trades Under Scrutiny

Morrow enacted a Rule 10b5-1 trading plan on August 29, 2024, which was used for the transactions. This strategy gives insiders the chance to avoid possible charges of insider trading by allowing them to establish a preset timetable for stock sales.

On March 17, Morrow made several transactions involving the purchase and selling of common stock in addition to the sale. Among these were restricted stock units and performance-restricted stock units, which were awarded under the business’s 2022 Omnibus Equity Compensation Plan. Without a direct financial exchange, 20,037 shares were acquired when these units were vested on the same day. Morrow now directly owns 17,335 shares of Leonardo DRS stock as a result of these moves.

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