Leidos said on February February 24, 2025 it entered into an accelerated share repurchase agreement to buy back $500 million of its common stock under its ongoing share repurchase authorization.

1. 01

   Leidos said on February February 24, 2025 it entered into an accelerated share repurchase agreement to buy back $500 million of its common stock under its ongoing share repurchase authorization.

2. 02

   Leidos said it made an initial payment of $500 million to the counterparty financial institution on February 20, 2025 and received about 3 million shares of common stock from the counterparty the same day.

3. 03

   The company said the final number of shares it repurchases will be based on the volume-weighted average stock price of its common stock during the term of the agreement, less a discount and subject to adjustments under its terms.

4. 04

   The company said that at settlement, under certain circumstances, the counterparty may deliver additional shares to it, or it may deliver shares or make a cash payment, at its election. It said final settlement is expected in Q2 2025 and may be completed earlier at the counterparty's option.

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