SEC Filing Analysis: Leidos Holdings, Inc. (LDOS)

Executive Summary

• Trading Significance: Low
• Key Takeaway: Director Noel Geer exercised options to acquire ~6,200 shares, paying approximately $587k in cash and retaining the stock.
• Market Impact: Neutral; transaction size is immaterial relative to market cap.

Company Information

Field	Value
Company	Leidos Holdings, Inc.
Ticker Symbol	LDOS
CIK	0001336920
Market Cap	$22.13 Billion

Insider Information

Field	Value
Name	Geer Noel B
CIK	0001216858
Relationship	Director

Transaction Details

Field	Value
Form Type	4
Transaction Date	2026-03-04
Transaction Code	M (Exercise of Options)
Security Type	Common Stock
Shares Involved	6,188
Avg Price Per Share	$94.87 (Exercise Price)
Total Value	$587,079
Shares Owned After	43,206 (Direct)
Ownership Type	Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$587,079
% of Market Cap	0.0027%
Shares Transacted	6,188
% of Shares Outstanding	0.0048%
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: Leidos is a large-cap company ($22.13B). A $587k transaction is routine and does not move the needle financially.
• Ownership Concentration: The insider holds approximately 43,206 shares directly and 34,000 indirectly (via Spouse and Family Trust), totaling ~77,206 shares. This represents roughly 0.06% of the company.
• Dilution Impact: Negligible.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: While "exercise-and-hold" transactions are generally positive signals of insider confidence, the volume here is too low to drive price action or institutional sentiment.

Volume & Sentiment

• Expected Volume Impact: None.
• Sentiment Indicator: Neutral.

Additional Context

Transaction Notes

• Details: The reporting person exercised three separate tranches of options with strike prices of $103.90, $104.06, and $79.45. Unlike many option exercises where the insider immediately sells to cover costs, this filing shows no corresponding disposition, implying a cash payment to hold the shares.