SEC Form 4 · accession 0001225208-16-027144

· NOC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Wesley G Bush

Officer — Chairman, CEO and President · Director

Period of report

Feb 17, 2016

Accepted (ET)

Feb 19, 2016 · 7:20 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001133421

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Feb 17, 2016	M	150,617	$0.00	A	150,617	D
Common Stock^F2	Feb 17, 2016	F	71,076	$190.06	D	79,541	D
Common Stock	holding	—	—		—	50,744	I	Held in Bush Trust No. 4
Common Stock^F3	holding	—	—		—	5,386	I	Held in Northrop Grumman Savings & Investment Plan
Common Stock	holding	—	—		—	50,745	I	Held in Wesley G. Bush Rev. Trust
Common Stock	holding	—	—		—	304,780	I	Held in WG&NF Bush Family Trust

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Performance Stock Rights^F5,F6,F4	—	Feb 17, 2016	A	86,522	A	—	—	Common Stock	86,522	282,467	D
Restricted Performance Stock Rights^F1,F7,F4	—	Feb 17, 2016	M	150,617	D	—	—	Common Stock	150,617	131,850	D
Restricted Stock Rights^F9,F8	—	Feb 17, 2016	A	16,478	A	—	—	Common Stock	16,478	92,245	D

Explanation of responses

F1Shares issued in settlement of Restricted Performance Stock Rights ("RPSRs") granted under the 2011 Long-Term Incentive Stock Plan ("LTISP") on 2/20/13 with a valuation of performance measurement period ("measurement period") ended 12/31/15. The RPSRs were settled at 150% of target.
F2Shares surrendered to issuer in payment of tax liability in connection with settlement of RPSRs in accordance with Rule 16b-3(e).
F3Held in the Northrop Grumman Savings and Investment Plan (the "Plan"), a qualified profit sharing plan, as of February 12, 2016. Share totals with respect to the Plan are based upon unit accounting and therefore may reflect a decrease in units attributable to an individual though no disposition occurred.
F4Each RPSR represents a contingent right to receive an equivalent number of shares of Issuer common stock, or, at the Issuer's election, cash or a combination of cash and Issuer common stock. The RPSRs vest if the applicable performance metric is satisfied for the relevant measurement period. Grants awarded pursuant to Rule 16b-3(d).
F5The RPSRs acquired include (i) 50,205.50 additional vested RPSRs with respect to the measurement period ended 12/31/15 acquired due to settlement of the 2013 RPSRs held at 150% of the target award and (ii) 36,316 unvested RPSRs granted under the LTISP on 2/17/16 with a measurement period ending on 12/31/18.
F6Total amount includes 150,616.50 vested RPSRs granted under the LTISP on 2/20/13 with a measurement period ended on 12/31/15; 36,316 RPSRs granted on 2/17/16 with a measurement period ending on 12/31/18; 41,147 RPSRs granted on 2/18/15 with a measurement period ending on 12/31/17; and 54,387 RPSRs granted on 2/19/14 with a measurement period ending on 12/31/16.
F7Total amount includes 36,316 RPSRs granted on 2/17/16 with a measurement period ending on 12/31/18; 41,147 RPSRs granted on 2/18/15 with a measurement period ending on 12/31/17; and 54,387 unvested RPSRs granted under the LTISP on 2/19/14 with a measurement period ending on 12/31/16.
F8Each Restricted Stock Right ("RSR") represents a contingent right to receive an equivalent number of shares of Issuer common stock, or, at the election of the Issuer's Compensation Committee, cash or a combination of cash and Issuer common stock. The RSRs were granted under the LTISP on 2/17/16 and will vest on 2/17/19.
F9Total amount includes 16,478 RSRs granted under the LTISP on 2/17/16 that will vest on 2/17/19; 16,745 RSRs granted under the LTISP on 2/18/15 that will vest on 2/18/18; 22,680 RSRs granted under the LTISP on 2/19/14 that will vest on 2/19/17; and 36,342 RSRs granted under the LTISP on 2/20/13 that will vest on 2/20/16.