Northrop Grumman (NOC) director Kimberly Ross receives 349-share equity award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Ross Kimberly A. reported acquisition or exercise transactions in this Form 4 filing.
Northrop Grumman director Kimberly A. Ross received an equity award of 349 shares of common stock, valued at $552.17 per share, as compensation. The shares were deferred into a stock unit account under Northrop Grumman’s 2024 Long-Term Incentive Stock Plan in a transaction exempt under Rule 16b-3. After this grant, Ross directly holds 1,612 shares, including dividends credited in stock unit accounts under the 2024 plan and the earlier 2011 Long-Term Incentive Stock Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Ross Kimberly A.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 349 | $552.17 | $193K |
Holdings After Transaction:
Common Stock — 1,612 shares (Direct, null)
Footnotes (1)
- Represents shares of common stock deferred into a stock unit account pursuant to the Northrop Grumman 2024 Long-Term Incentive Stock Plan (the "Plan") in a transaction exempt pursuant to Rule 16b-3. Represents shares of common stock, including dividends, held in a stock unit account pursuant to the Plan and the Northrop Grumman 2011 Long-Term Incentive Stock Plan. Dividends earned on shares held in the stock unit account were exempt from Section 16 and not reportable under rule 16a-11.
Key Figures
Equity award shares: 349 shares
Grant price per share: $552.17 per share
Total shares after award: 1,612 shares
3 metrics
Equity award shares
349 shares
Grant of common stock under 2024 Long-Term Incentive Stock Plan
Grant price per share
$552.17 per share
Value used for the 349-share award
Total shares after award
1,612 shares
Direct holdings following this Form 4 transaction
Key Terms
Rule 16b-3, Section 16, stock unit account, Long-Term Incentive Stock Plan
4 terms
Rule 16b-3 regulatory
"in a transaction exempt pursuant to Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
Section 16 regulatory
"Dividends earned on shares held in the stock unit account were exempt from Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
stock unit account financial
"held in a stock unit account pursuant to the Plan"
Long-Term Incentive Stock Plan financial
"pursuant to the Northrop Grumman 2024 Long-Term Incentive Stock Plan"
A long-term incentive stock plan is a company program that pays key employees and executives with company shares or stock-based awards that become theirs only after meeting performance goals or staying with the company for several years. Think of it as a delayed bonus paid in stock that ties pay to future results; investors watch these plans because they influence executive behavior, can dilute existing shares, and affect reported costs and long-term shareholder value.
FAQ
What did Northrop Grumman (NOC) director Kimberly A. Ross report on this Form 4?
Kimberly A. Ross reported receiving 349 shares of Northrop Grumman common stock as an equity award. The shares were granted under the company’s long-term incentive plan and deferred into a stock unit account as part of her director compensation, not an open-market purchase.
What was the value of Kimberly Ross’s recent Northrop Grumman (NOC) equity award?
The award covered 349 common shares at $552.17 per share, reflecting the grant value used for this compensation. The shares are credited to a stock unit account rather than taken in cash, aligning her interests with shareholders through Northrop Grumman’s long-term incentive structure.
Was Kimberly Ross’s Northrop Grumman (NOC) Form 4 transaction an open-market stock purchase?
No, the filing shows a grant or award acquisition, not an open-market trade. The 349 shares were deferred into a stock unit account under Northrop Grumman’s 2024 Long-Term Incentive Stock Plan and are exempt from Section 16 short-swing profit rules under SEC Rule 16b-3.
What plans govern Kimberly Ross’s stock units in Northrop Grumman (NOC)?
Her stock units are held under the Northrop Grumman 2024 Long-Term Incentive Stock Plan and the 2011 Long-Term Incentive Stock Plan. These plans allow directors to defer stock-based compensation, with additional stock units credited for dividends on previously granted shares in the stock unit account.