KRATOS DEFENSE & SECURITY SOLUTIONS, INC. — Director's Dealing 2014

May 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KRATOS DEFENSE & SECURITY SOLUTIONS, INC. (KTOS)
CIK: 0001069258
Period of Report: 2014-05-19

Reporting Person: HOGLUND WILLIAM A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-19	Common Stock	P	50332	$7.1944	Acquired	50332	Direct
2014-05-20	Common Stock	P	149668	$7.2515	Acquired	200000	Direct

Footnotes

F1: Open market acquisition of Issuer's Common Stock in accordance with Issuer's insider trading policy.

F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.11 to $7.21 inclusive. The Reporting Person undertakes to provide to Issuer, any security holder of Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within
the ranges set forth in this footnote to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.21 to $7.34 inclusive. The Reporting Person undertakes to provide to Issuer, any security holder of Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within
the ranges set forth in this footnote to this Form 4.