Leidos Holdings, Inc. Announces Management Changes
December 14, 2023 at 08:48 am EST
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On December 11, 2023, the Board of Directors of Leidos Holdings, Inc. increased the size of the Board to 13 members and elected Vice Admiral (Retired) Nancy Ann Norton as a Director of the Company, effective January 1, 2024. The Board has determined that Ms. Norton is independent and meets the applicable independence requirements of the New York Stock Exchange. On December 11, 2023, the Board appointed Daniel A. Atkinson IV, age 45, as the Company's Senior Vice President, Chief Accounting Officer and Corporate Controller, to be effective upon the filing of the Company's Annual Report on Form 10-K for the year ended December 29, 2023 (the " Effective Date "). Previously, Mr. Atkinson served as the Company's Assistant Corporate Controller since June 2021. Mr. Atkinson brings over 20 years of experience leading large teams in a number of different industries and has extensive proficiency in accounting, auditing, financial reporting and accounting information systems. Before joining Leidos, Mr. Atkinson was Director of Technical Accounting and Revenue Recognition at Booz Allen Hamilton from April 2018 until June 2021. He also held key leadership roles within the controller's organization at CSRA, Inc. from October 2016 to April 2018.
Beginning January 8, 2024, Mr. Atkinson will receive a base salary of $340,000 per year and participate in the Company?s annual incentive plans for executive officers as further described in the Company?s most recent annual proxy statement, with a target cash bonus of 50% of his annual base salary. He will receive an annual equity award for fiscal year 2024 as part of the Company?s annual equity award program with a grant date fair value of $204,000, which is expected to consist of 50% performance share awards, 30% performance restricted stock units and 20% stock options, in each case subject to the applicable vesting terms (including performance vesting terms) further described in the Company?s most recent annual proxy statement. All equity grants will be made under the Amended and Restated 2017 Omnibus Incentive Plan. Mr. Atkinson will also be eligible to participate in other benefit plans consistent with the Company?s other executives.
Carly E. Kimball will continue to serve as the Company's Chief Accounting Officer and Corporate Controller until the Effective Date, in addition to her new role as Chief Performance Officer, which will be effective January 1, 2024.
Leidos Holdings, Inc. specializes in the provision of engineering, technological and scientific services. Net sales by business segment break down as follows:
- defense (56.6%): design, engineering and integration of technological solutions for intelligence, airborne surveillance and reconnaissance, maritime and land-based solutions, electronic warfare systems, and automated sensor, alarm, command and control systems, software development, cyber security solutions and data processing and analysis solutions, IT infrastructure development and integration, etc.;
- civil security (23.7%): development and integration of solutions for the protection of goods, data and digital information, solutions and systems for air traffic flow control and flight data management, vehicle and cargo inspection, explosives and radiation detection, computer security, environmental management, nuclear security, complex logistics management, etc.;
- health (19.7%): integration of complex systems and technological infrastructures for the management of data, medical information and electronic health records, provision of healthcare services, IT systems lifecycle management, research and development of biopharmaceuticals, etc.
Net sales by market are divided between the US Department of Defense and the intelligence community (49.4%), government agencies (37.4%) and commercial customers (13.2%).
The United States accounts for 91,4% of net sales.
LEIDOS HOLDINGS, INC. 
