What changed in this filing

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Item 3. Legal Proceedings

2026-02-27 compared with 2025-03-03 · 27 added, 33 removed, 55 unchanged (52% of the section changed)

12 unchanged sentences

Our subsidiary made a good faith offer to conduct an alternative EE/CA work plan, but the NPS rejected this offer and opted to perform the EE/CA itself.

NPS previously posted its intention to open a formal public comment period regarding the EE/CA at the end of 2019.

The NPS previously posted its intention to open a formal public comment period regarding the EE/CA at the end of 2019.

To our knowledge, the EE/CA has not been released and a public comment period has yet to be opened.

2 unchanged sentences

The EPA has determined that no further federal action (NFFA) will be taken at this site.” As a result, DRS has eliminated the Orphan Mine reserve as a liability is no longer probable or estimable.

However, it remains possible that the NPS may seek to recover damages, including for remediation and/or loss of use of certain natural resources.

However, it remains possible that the NPS may seek to recover damages, including for remediation and/or loss of use

of certain natural resources.

We believe that we have legitimate defenses to our subsidiary’s potential liability and that there are other potentially responsible parties for the environmental conditions at the site, including the U.S.

4 unchanged sentences

SUPPLEMENTARY ITEM— INFORMATION ABOUT OUR EXECUTIVE OFFICERS

The following table sets forth certain information concerning our executive officers, including the respective age of each individual, as of December 31, 2024.

The following table sets forth certain information concerning our executive officers, including the respective age of each individual, as of February 25, 2026.

Biographies of each of our executive officers are also below.

Name Age Position

Lynn III 70 Chief Executive Officer and Chairman

Baylouny 63 Executive Vice President, Chief Operating Officer

Baylouny 64 President and Chief Executive Officer

Dippold 45 Executive Vice President, Chief Financial Officer

Dorfman 51 Executive Vice President, General Counsel & Secretary

Wallace 58 Executive Vice President, Business Operations

Lynn has been a director since 2012 and our Chief Executive Officer since January 2012.

Lynn also serves as Chairman of our Board.

Prior to joining DRS in January 2012, Mr.

Lynn served as the 30th United States Deputy Secretary of Defense from 2009 to 2011.

From 2002 to 2009, Mr.

Lynn was Senior Vice President of Government Operations and Strategy at the Raytheon Company.

In this position, he directed strategic planning, oversaw merger and acquisition activities and supervised government relations.

Previously, he served as the Chief Financial Officer and Under Secretary of Defense (Comptroller) from 1997 to 2001.

From 1993 to 1997, he led strategic planning for the DoD as Director of Program Analysis and Evaluation.

Lynn worked for Senator Ted Kennedy as counsel to the Senate Armed Services Committee from 1987 to 1993.

Lynn is a member of the boards of Accenture Federal Services, the USO Foundation, the Atlantic Council, and the Center for a New American Security.

He has been recognized for numerous professional and service contributions, including four DoD Distinguished Public Service medals and the Distinguished

Civilian Service Award from the Chairman of the Joint Chiefs of Staff.

A graduate of Dartmouth College, Mr.

Lynn holds a juris doctor degree from Cornell Law School and a master’s degree from the Princeton School of Public and International Affairs.

Lynn brings to the Board his extensive experience in national security, both in government and in industry.

Baylouny has been our Executive Vice President and Chief Operating Officer since October 2018.

In that role, Mr.

Baylouny is responsible for overseeing the business operations and technical strategy of the Company.

Prior to assuming the position of Chief Operating Officer, Mr.

Baylouny served as our Chief Technology Officer from January 2017 to October 2018.

Rinsky 53 Executive Vice President, Chief Tax and Treasury Officer

Wallace 59 Executive Vice President, Chief Operating Officer

Baylouny has been a director and our President and Chief Executive Officer since January 2026.

Prior to assuming the position of President and Chief Executive Officer, Mr.

Baylouny served as our Chief Operating Officer since October 2018.

Baylouny also served as our Chief Technology Officer from January 2017 to October 2018.

Prior to that, Mr.

2 unchanged sentences

Baylouny has a master’s degree in electrical engineering from Stevens Institute of Technology, and a Bachelor of Science degree in electrical engineering from Fairleigh Dickinson University.

Michael Dippold has been our Executive Vice President and Chief Financial Officer since January 2017.

Dippold has been our Executive Vice President and Chief Financial Officer since January 2017.

As the Executive Vice President, Chief Financial Officer, Mr.

20 unchanged sentences

Dorfman holds a Bachelor of Arts degree in political science from Emory University and a juris doctor degree from New York University School of Law.

Wallace has been our Executive Vice President, Business Operations since December 2016.

As Executive Vice President, Business Operations, Ms.

Wallace is responsible for overseeing the policies and standards required for effective program execution.

Rinsky has been our Executive Vice President, Chief Tax and Treasury Officer since January 2026.

Rinsky is responsible for the global tax and treasury functions as well as the commercial real estate profile for the Company and all of its business units.

He previously served as Senior Vice President, Tax and Treasury from 2012 until his most recent promotion.

Rinsky joined the Company in 2006 as Senior Vice President, Corporate Taxation.

Rinsky also chairs DRS’ Retirement Plan Committee which has oversight over approximately $1 billion of defined benefit and defined contribution plan assets.

He previously served as Tax Officer for US Holding from 2009 to 2022 and worked at both KPMG and PricewaterhouseCoopers advising clients on tax related matters.

Rinsky earned his undergraduate degree from Hamilton College and his J.D.

from Seton Hall University.

Wallace has been our Executive Vice President, Chief Operating Officer since January 2026.

As Executive Vice President, Chief Operating Officer, Ms.

Wallace is responsible for overseeing the business operations and technical strategy of the Company.

Wallace has more than 30 years’ experience, in roles of increasing responsibility, within the defense industry.

Prior to assuming the position of Executive Vice President, Operations, Ms.

Wallace was President of the C4ISR Group within DRS from April 2014 to December 2016, Vice President of Business Operations for DRS Maritime and Combat Support Systems Group from July 2008 to April 2014, as well as the Vice President and General Manager of DRS Power and Control Technologies from 2004 to July 2008.

Prior to assuming the position of Executive Vice President, Chief Operating Officer, Ms.

Wallace was the Company’s Executive Vice President, Business Operations, a position she held since late 2016.

Throughout her career at DRS, Ms.

Wallace has held a variety of roles of increasing responsibility including President of the C4ISR Group within DRS from April 2014 to December 2016, Vice President of Business Operations for DRS Maritime and Combat Support Systems Group from July 2008 to April 2014, as well as the Vice President and General Manager of DRS Power and Control Technologies from 2002 to July 2008.

Wallace has a master’s degree in business from the University of Chicago, a master’s degree in mechanical engineering from the University of Connecticut and a Bachelor of Science degree in engineering physics from Grove City College.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 3. Legal Proceedings