Corporate GovernanceJul 24, 2026, 04:12 PM
L3Harris Grants $25M One-Time Equity Awards to Key Executives
AI Summary
L3Harris Technologies' Compensation Committee approved $25 million in special one-time equity awards for three senior executives: CFO Kenneth Sharp, President of Missile Solutions Kenneth Bedingfield, and President of Space & Mission Systems Samir Mehta. These Sustainment Awards, split equally between performance share units (PSUs) and restricted stock units (RSUs), are designed to ensure continued leadership and align executive interests with shareholders. The PSUs are tied to rigorous financial performance goals over a three-year period (fiscal years 2027-2029), with both PSUs and RSUs cliff-vesting at the end of fiscal year 2029.
Key Highlights
- L3Harris approved $25,000,000 in special one-time equity awards for three senior executives.
- CFO Kenneth Sharp received $5,000,000 in Sustainment Awards.
- Kenneth Bedingfield (President, Missile Solutions) received $10,000,000 in awards.
- Samir Mehta (President, Space & Mission Systems) received $10,000,000 in awards.
- Awards are 50% Performance Share Units (PSUs) and 50% Restricted Stock Units (RSUs).
- PSUs are tied to compounded organic revenue growth (50%) and average segment operating margin (50%).
- Awards cliff-vest at the end of fiscal year 2029, subject to continued employment.
Price Impact
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