L3Harris grants USD 25 million in one-time equity awards to CFO, two unit presidents
LHX•L3Harris grants special equity awards to three executives
L3Harris set special one-time equity “Sustainment Awards” for CFO Kenneth Sharp, Missile Solutions president Kenneth Bedingfield and Space & Mission Systems president Samir Mehta.
- The awards were granted Aug. 3 under the 2024 Equity Incentive Plan.
- The package is split 50% PSUs and 50% RSUs, with target values of USD 5 million for Sharp, USD 10 million for Bedingfield and USD 10 million for Mehta.
- The PSUs run over fiscal 2027-2029 and can pay out from 0% to 200% based on compounded organic revenue growth (50%) and average segment operating margin (50%).
- Both the PSUs and RSUs cliff-vest at the end of fiscal 2029, and the number of awards was set using the closing share price on the grant date.
- Involuntary termination without cause triggers pro-rata vesting by fiscal year-end milestones; there is no vesting on voluntary exit or retirement.
