Leonardo DRS (NASDAQ:DRS) held its 2026 annual meeting of stockholders on Wednesday, with shareholders approving all three proposals presented by the defense technology company.
Frances Townsend, chairman of the board, called the virtual meeting to order at 9:00 a.m. Eastern and welcomed stockholders, directors and members of senior management. Mark Dorfman, executive vice president, general counsel and corporate secretary, then led the formal proceedings.
Directors Re-Elected to Serve Through 2027
Townsend briefly introduced the nominees at the start of the meeting, highlighting their backgrounds in defense, aerospace, finance, government and corporate governance. Baylouny, the company’s president and chief executive officer, has served as a director since the beginning of the year. Jeffery also began serving on the board earlier this year, bringing experience that includes roles at Goldman Sachs and in the U.S. State Department.
Townsend, who has served as a board member since 2009 and became chair earlier this year, also chairs the Compensation Committee. Gallagher chairs the Audit Committee, Krieg chairs the Nominating and Corporate Governance Committee, and Casey chairs the Government Security Committee.
Executive Compensation Approved
Shareholders also approved, on an advisory basis, the company’s executive compensation program as described in the proxy statement. Dorfman noted that the vote was conducted under Section 14A of the Exchange Act and is not binding on the board, but provides feedback to the board and its Compensation Committee regarding investor sentiment.
Ernst & Young Ratified as Auditor
The third proposal, ratifying the appointment of Ernst & Young as Leonardo DRS’ independent registered public accounting firm for fiscal 2026, was also approved. Dorfman acknowledged Jim Dlugasch, an audit partner at Ernst & Young, who participated in the meeting by teleconference.
Dorfman said a quorum was present in person or by proxy, allowing the meeting to proceed. The record date for the meeting was March 20, 2026. No stockholder questions were submitted regarding the proposals or meeting procedures, and the polls were closed after all business items were presented.
Townsend Thanks Employees and CEO
In closing remarks, Townsend thanked stockholders for their continued trust and recognized the work of more than 7,000 Leonardo DRS employees. She said their dedication is “the engine behind the company’s continuing success.”
Townsend also recognized Baylouny, saying he is “driving a culture of operational speed and agility that is already delivering results.” She added that the board is confident the company remains well positioned under his leadership to support customers and deliver long-term shareholder value.
The meeting was adjourned at 9:09 a.m. Eastern. Certified voting results are expected to be released shortly following the meeting, according to Dorfman.
About Leonardo DRS (NASDAQ:DRS)
Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.
The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.
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