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Get filing alertsAeroVironment appoints former Leonardo DRS CEO William J. Lynn III to Board
Filed June 25, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
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William J. Lynn III joined the Board effective June 24, 2026, bringing 14 years as Chairman/CEO of defense electronics firm Leonardo DRS and prior service as Deputy Secretary of Defense (2009-2011).
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Lynn led development of the Department of Defense's first cyber strategy as Deputy Secretary and held senior roles at Raytheon and within DoD, including Under Secretary of Defense (Comptroller).
Exhibit 99.1 view on EDGAR → -
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Board size reduced from 10 to 9 directors concurrent with Lynn's appointment; he will serve as Class I director with term expiring at the 2026 Annual Meeting.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Lynn receives standard non-employee director compensation with no special arrangements or related-party transactions; company executed routine indemnification agreement.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
AeroVironment added William J. Lynn III to its Board of Directors on June 24, 2026, bringing deep defense sector and government experience to the company's governance.
Lynn served as Chairman and CEO of Leonardo DRS, a publicly traded defense electronics company, from 2012 to 2026, and previously held the number-two position at the Department of Defense as Deputy Secretary from 2009 to 2011, where he led development of DoD's first cyber strategy. His background also includes senior roles at Raytheon and as Under Secretary of Defense (Comptroller).
For a defense technology company scaling its operations, Lynn's dual expertise in public company leadership and defense policy provides strategic value. The appointment follows standard governance procedures with no special compensation arrangements or related-party considerations. The board simultaneously reduced its size from 10 to 9 directors, and Lynn will stand for election at the 2026 Annual Meeting as a Class I director. This is a routine board refresh that strengthens AeroVironment's bench of defense industry expertise.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
AeroVironment, Inc. (“AV”) (NASDAQ: AVAV) today announced the appointment of William J. Lynn III to its Board of Directors, effective June 24, 2026.
AeroVironment added William J. Lynn III to its Board of Directors effective June 24, 2026. Lynn brings extensive defense and national security experience, having served as Chairman and CEO of Leonardo DRS from 2012 to 2026 and as the 30th U.S. Deputy Secretary of Defense from 2009 to 2011. His background includes senior roles at Raytheon and within the Department of Defense, including Under Secretary of Defense (Comptroller) and Chief Financial Officer.
Added in current filing · view on EDGAR →
Lynn served as Chairman and Chief Executive Officer of Leonardo DRS, Inc. (NASDAQ: DRS), a leading defense electronics company, from 2012 until 2026. Previously, he served as the 30th U.S. Deputy Secretary of Defense from 2009 to 2011 under Secretaries Robert Gates and Leon Panetta, where as the Department’s chief operating officer he led the development of the Department’s first cyber strategy.
Lynn's qualifications include leading Leonardo DRS as Chairman and CEO for 14 years and serving as Deputy Secretary of Defense, where he was the Department's chief operating officer and led development of its first cyber strategy. This experience in both public company leadership and senior defense policy roles positions him to provide strategic guidance as AeroVironment scales its operations in the defense technology sector.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 24, 2026, upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) of AeroVironment, Inc. (the “Company”), the Board (i) appointed William J. Lynn, III to the Board as a Class I director, effective immediately and (ii) decreased the size of the board from ten (10) to nine (9) directors.
The company appointed William J. Lynn III to the Board of Directors as a Class I director, effective June 24, 2026. Simultaneously, the board reduced its size from 10 to 9 directors. Mr. Lynn's term expires at the 2026 Annual Meeting of Stockholders.
Show 2 minor / wording changes
Added in current filing · verify on EDGAR →
There are no arrangements or understandings between Mr. Lynn and any other person pursuant to which he was selected as a director. Mr. Lynn has no family relationship with any director or executive officer of the Company and he has no direct or indirect material interest in any transaction involving the Company required to be disclosed under Item 404(a) of Regulation S-K. Mr. Lynn’s compensation for his Board service will be consistent with that provided to all of the Company’s non-employee directors as disclosed and updated in the Company’s proxy disclosures annually.
The filing confirms Mr. Lynn has no related-party transactions, family relationships with company insiders, or special arrangements regarding his selection. His compensation will match the standard non-employee director compensation structure disclosed in the company's proxy statements.
Added in current filing · verify on EDGAR →
In addition, the Company entered into an indemnification agreement with Mr. Lynn in connection with his appointment to the Board, in substantially the same form as entered into with the Company’s other directors, available as Exhibit 10.1 in the Company’s Annual Report on Form 10-K for the year ended April 30, 2025.
The company executed a standard indemnification agreement with Mr. Lynn, consistent with agreements provided to other directors. This is routine governance practice for newly appointed board members.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 7, 2026 · How we verify