8-KCurrent report
Officer or director change
✓ VerifiedL3Harris approved special one-time Sustainment equity awards for three executives on July 23, 2026, with target values of $5,000,000 for CFO Kenneth Sharp and $10,000,000 each for Kenneth Bedingfield and Samir Mehta.
Filed Jul 24, 2026 · 16:06 ET
Summary
- On July 23, 2026, the Compensation Committee approved special one-time equity awards, called Sustainment Awards, for Kenneth Sharp, Kenneth Bedingfield, and Samir Mehta.
- The awards will be granted on August 3, 2026 under the Company's 2024 Equity Incentive Plan, split 50% performance share units and 50% restricted stock units.
- Target grant date values are $5,000,000 for Kenneth Sharp, $10,000,000 for Kenneth Bedingfield, and $10,000,000 for Samir Mehta.
- The PSUs carry a three-year performance period from fiscal year 2027 through fiscal year 2029, measured on compounded organic revenue growth (weighted 50%) and average segment operating margin (weighted 50%).
- Each executive may earn between 0% and 200% of the target number of PSUs, with both PSUs and RSUs cliff-vesting at the end of fiscal year 2029, subject to continued employment.
- Involuntary termination without cause allows pro-rata vesting of one-third after fiscal year 2027, two-thirds after fiscal year 2028, and full vesting after fiscal year 2029.
Key facts
- CFO Sharp award value
- $5,000,000
From the filing for CFO Sharp award value
“Kenneth Sharp, Senior Vice President and Chief Financial Officer: $5,000,000”
- Bedingfield award value
- $10,000,000
From the filing for Bedingfield award value
“Kenneth Bedingfield, President, Missile Solutions: $10,000,000”
- Mehta award value
- $10,000,000
From the filing for Mehta award value
“Samir Mehta, President, Space & Mission Systems and Communications & Spectrum Dominance: $10,000,000”
- Grant date
- August 3, 2026
From the filing for Grant date
“The Sustainment Awards will be granted on August 3, 2026, pursuant to the Company's 2024 Equity Incentive Plan”
- Award structure
- 50% PSUs and 50% RSUs
From the filing for Award structure
“in the form of 50% performance share units ("PSUs") and 50% restricted stock units ("RSUs")”
- Performance period
- fiscal year 2027 through fiscal year 2029
From the filing for Performance period
“The PSUs are subject to a three-year performance period (fiscal year 2027 through fiscal year 2029).”
- PSU payout range
- 0% and 200%
From the filing for PSU payout range
“each Executive may earn between 0% and 200% of the target number of PSUs”
- Performance criteria
- compounded organic revenue growth (weighted 50%) and average segment operating margin (weighted 50%)
From the filing for Performance criteria
“consisting of compounded organic revenue growth (weighted 50%) and average segment operating margin (weighted 50%)”
Why it mattersThe retention awards tie a portion of pay for the CFO and the leaders of Missile Solutions and Space & Mission Systems to multi-year organic revenue growth and margin targets. Full vesting requires continued employment through the end of fiscal year 2029.
- Filed
- Jul 24, 2026
- Accepted
- 2026-07-24 20:06Z
- Period
- Jul 23, 2026
- Accession no.
- 0000202058-26-000047
- Size
- 169 KB
- Index
- Filing index