SEC 8-K and 6-K filings classified by Claude with reasoning, plus Form 4 insider transactions. Ingested from EDGAR’s filing stream in near-real time, reconciled overnight.
Open-market buys and sells only — the deliberate trades. Zero here doesn’t mean no filings: grants, option exercises and tax withholding (below) are compensation, not market trades.
| Insider | Role | Date | Transaction | Shares | Value |
|---|---|---|---|---|---|
| May Gary Stephen | Director | 2026-09-01 | Open-market sell | 1000 | $141K |
| Geer Noel B | Director | 2026-08-11 | Open-market sell | 8500 | $1.2M |
| Geer Noel B | Director | 2026-08-11 | Open-market sell | 1500 | $212K |
| Cage Christopher R | Chief Financial Officer | 2026-08-04 | Tax withholding | 4584 | $544K |
| Porter Elizabeth A | Sector President | 2026-08-04 | Tax withholding | 5092 | $605K |
| Stevens Roy E | Sector President | 2026-08-04 | Tax withholding | 4584 | $544K |
| KRAEMER HARRY M JANSEN JR | Director | 2026-07-06 | Grant/award | 310 | $0 |
| Antal Daniel J. | EVP, General Counsel | 2026-06-30 | Grant/award | 6 | $0 |
| Cage Christopher R | Chief Financial Officer | 2026-06-30 | Grant/award | 113 | $0 |
| KRAEMER HARRY M JANSEN JR | Director | 2026-06-30 | Grant/award | 565 | $0 |
| SHAPARD ROBERT S | Director | 2026-06-30 | Grant/award | 7 | $0 |
| Stevens Roy E | Sector President | 2026-06-30 | Grant/award | 8 | $0 |
| Dahlberg Gregory R | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| Fubini David G | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| Geer Noel B | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| Jonas Tina W | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| KRAEMER HARRY M JANSEN JR | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| May Gary Stephen | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| Norton Nancy A | Director | 2026-05-08 | Grant/award | 1067 | $0 |
| SHAPARD ROBERT S | Director | 2026-05-08 | Grant/award | 1067 | $0 |
Fiscal period ending 2026-01-02 versus 2025-01-03 — view filing on EDGAR →
Pervasive regulatory and geopolitical risk escalation defines this filing, spanning executive-order constraints on capital allocation, CMMC hardening to a mandatory contract-eligibility requirement, new tax law (OBBBA) with acknowledged FY2025 financial impact, and materially expanded cybersecurity and AI exposure. The breadth of worsening — six or more distinct themes, with several individually severe items — represents a fundamental tightening of the operating and compliance environment for a government contractor. Capital return flexibility is now directly constrained by federal enforcement authority, and talent acquisition faces simultaneous pressure from immigration restrictions and compensation caps on defense contracts.
4 company-specific · 14 common-mode
New executive order imposes material restrictions on buybacks, dividends, and executive compensation tied to performance metrics. Secretary of War enforcement authority and 15-day remediation requirements create new compliance obligations and financial constraints.
The U.S. government may terminate, cancel, modify, renew on less favorable terms or curtail our contracts at any time prior to their completion, and if we do not replace them, this may adversely…
Expanded negative publicity risk to include "sustained or recurring media coverage" and industry-wide criticism, plus new vulnerabilities around "investment, prioritization, and production" deficiencies.
Leidos Holdings, Inc. Annual Report 15 Table of Contents PART I INDUSTRY AND ECONOMIC RISKS We depend on government agencies as our primary customers and if our reputation or relationships with these…
Added specific risk: reduction in government weather-monitoring/satellite programs may impair ability to predict and mitigate extreme weather operational risks.
Our business is subject to disruption caused by physical or transition risks that could adversely affect our operations, profitability and overall financial position. We have significant operations…
Added explicit risk of employee injury, death, or kidnapping in geopolitical conflict zones. Escalates personal safety risk beyond prior property/contractual language.
We face risks associated with our international business. During fiscal 2025, revenue attributable to our services provided outside of the United States to non-U.S. customers was approximately 8% of…
New disclosure of material tax law changes (OBBBA) with acknowledged material impact on FY2025 financials and ongoing audit/litigation exposure.
Changes in tax laws and regulations or exposure to additional tax liabilities could adversely affect our financial results. We are subject to income taxes in the U.S. and numerous foreign…
New executive order restricts stock buybacks and dividends during underperformance on future defense contracts. Material contractual constraint on capital allocation.
RISKS RELATING TO OUR STOCK We cannot assure you that we will continue to pay or increase dividends on our common stock or to repurchase shares of our common stock. The timing, declaration, amount…
Multiple new government contractor compliance risks added: procurement rules, OCI restrictions, audits, investigations, and data privacy regulations. Substantive escalation of regulatory exposure.
Leidos Holdings, Inc. Annual Report 13 Table of Contents PART I u Our failure to comply with various complex procurement rules and regulations could result in us being liable for penalties, including…
Added substantial new disclosure of credit/capital market instability risks: counterparty performance, refinancing difficulty, credit rating impacts, and financing availability—material escalation of financial risk.
Deterioration of economic conditions or weakening in credit or capital markets may have a material adverse effect on our business, results of operations and financial condition. Volatile, negative…
New disclosure of Executive Order 14275 federal procurement reforms creating uncertainty, potential cost increases, competition risk, and operational complexity for government contractor.
LEGAL AND REGULATORY RISKS Our failure to comply with various complex procurement rules and regulations could result in us being liable for penalties, including termination of our U.S. government…
Added disclosure that OCIs are active litigation area and competitors may use bid protests to overturn awards, escalating competitive risk and regulatory uncertainty.
Application of the U.S. government's organizational conflict of interest (OCI) rules could limit our ability to successfully compete for new contracts or task orders, which would adversely affect our…
Added two substantive new risks: immigration policy restrictions on visa-based talent acquisition, and executive order limiting compensation attractiveness for key employees on defense contracts.
A failure to attract, retain, and develop talent with critical skills, including our leadership team, would adversely affect our ability to execute our strategy and may disrupt our operations. Our…
Expanded disclosure of budget cap reinstatement, debt ceiling debate, and acquisition system changes. Adds specific statutory references (BCA, Fiscal Responsibility Act) and new risks around government efficiency initiatives and contracting model changes.
A decline in the U.S. government budget, changes in spending or budgetary priorities or delays in contract awards may significantly and adversely affect our future revenues and limit our growth…
Added explicit debt ceiling risk and prolonged shutdown consequences. Expanded discussion of funding uncertainty's impact on bidding, scheduling, and profitability.
Because we depend on U.S. government contracts, a delay in the completion of the U.S. government’s budget and appropriations process could delay procurement of the products, services, and solutions…
CMMC moved from conditional/uncertain ("in process of evaluating") to mandatory requirement for contract eligibility. Added Congressional legislation risk and expanded consequences language.
Our business is subject to complex and evolving laws and regulations regarding data privacy and security, which could subject us to investigations, claims, or monetary penalties against us, require…
Added substantial new language on service provider accountability, undetected vulnerabilities, and resource requirements for remediation—escalating disclosed cybersecurity risk exposure.
Cybersecurity breaches and other information security incidents could negatively impact our business and financial results, impair our ability to effectively provide our services to our customers and…
New specific risk: employees/contractors using third-party AI tools could inadvertently disclose confidential information into public training sets, threatening IP protection and competitive advantage.
We utilize artificial intelligence, which could expose us to liability or adversely affect our business, especially if we are unable to compete effectively with others in adopting artificial…
Escalated AI risk disclosure: added specific litigation exposure, copyright/IP concerns, state-level regulations (Colorado, California), and explicit acknowledgment of anticipated additional resource costs to comply and maintain competitive position.
Leidos Holdings, Inc. Annual Report 29 Table of Contents PART I competitive position and business. Further, any output created by us using AI tools may not be subject to copyright protection, which…
New disclosure of executive order compliance burden on subcontractors, introducing complexity and cost risk to defense contracting operations.
We depend on our teaming arrangements and relationships with other contractors and subcontractors. If we are not able to maintain these relationships, or if these parties fail to satisfy their…
Leidos disclosed financial results for the second fiscal quarter ended July 3, 2026, via a press release issued on August 4, 2026. The disclosure includes key metrics: revenues of $4.6 billion (up 7% YoY), net income of $356 million ($2.81 per diluted share), adjusted EBITDA of $631 million, and free cash flow of $761 million. The company also raised full-year 2026 guidance for revenues, non-GAAP diluted EPS, and operating cash flows. This is a standard quarterly earnings release filed under Item 2.02 with the press release furnished as Exhibit 99.1.
View raw filing on EDGAR →