false 0001336920 0001336920 2025-02-20 2025-02-20

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): February 20, 2025

 

 

LEIDOS HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-33072   20-3562868

(State or other jurisdiction of

incorporation or organization)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

1750 Presidents Street, Reston, Virginia     20190
(Address of principal executive office)     (Zip Code)

(571) 526-6000

(Registrants’ telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

symbol(s)

  

Name of each exchange

on which registered

Common stock, par value $.0001 per share   LDOS   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

FORM 8-K

 

Item 8.01.

Other Events.

On February 24, 2025, Leidos Holdings, Inc. (the “Company”) announced it has entered into an accelerated share repurchase agreement (the “ASR Agreement”) to repurchase $500 million of the Company’s common stock. These repurchases will be conducted under the Company’s ongoing share repurchase authorization.

Pursuant to the ASR Agreement, the Company made an initial payment of $500 million to the counterparty financial institution on February 20, 2025 and received on the same day initial deliveries of approximately 3 million shares of the Company’s common stock from the counterparty. The final number of shares to be repurchased by the Company will be based on the volume-weighted average stock price of the Company’s common stock during the term of the ASR Agreement, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreement. At settlement, under certain circumstances, the counterparty may be required to deliver additional shares of common stock to the Company, or under certain circumstances, the Company may be required to deliver shares of common stock or to make a cash payment, at its election, to the counterparty. The final settlement under the ASR Agreement is expected during the second quarter of 2025, subject to an earlier completion at the counterparty’s option.

 

Item 9.01.

Financial Statements and Exhibits.

(i) Exhibits

 

 Exhibit 104    The cover page from this Current Report on Form 8-K, formatted in Inline XBRL and contained in Exhibit 101.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    LEIDOS HOLDINGS, INC.
Date: February 24, 2025     By:  

/s/ Brian Z. Liss

      Brian Z. Liss
    Its:   Senior Vice President, Deputy General Counsel and Corporate Secretary
v3.25.0.1
Document and Entity Information
Feb. 20, 2025
Cover [Abstract]  
Amendment Flag false
Entity Central Index Key 0001336920
Document Type 8-K
Document Period End Date Feb. 20, 2025
Entity Registrant Name LEIDOS HOLDINGS, INC.
Entity Incorporation State Country Code DE
Entity File Number 001-33072
Entity Tax Identification Number 20-3562868
Entity Address, Address Line One 1750 Presidents Street
Entity Address, City or Town Reston
Entity Address, State or Province VA
Entity Address, Postal Zip Code 20190
City Area Code (571)
Local Phone Number 526-6000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common stock, par value $.0001 per share
Trading Symbol LDOS
Security Exchange Name NYSE
Entity Emerging Growth Company false
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