KRATOS DEFENSE & SECURITY SOLUTIONS, INC. — Director's Dealing 2020

May 20, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KRATOS DEFENSE & SECURITY SOLUTIONS, INC. (KTOS)
CIK: 0001069258
Period of Report: 2020-05-18

Reporting Person: Judd Jane Elizabeth (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-18	Common Stock	M	4000	$4.98	Acquired	30100	Direct
2020-05-18	Common Stock	M	4000	$4.98	Acquired	34100	Direct
2020-05-18	Common Stock	F	2453	$16.24	Disposed	31647	Direct
2020-05-19	Common Stock	S	5547	$16.74	Disposed	26100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-18	Stock Option (right to buy)	$4.98	M	4000	Disposed	2023-01-04	Common Stock (4000)	Direct
2020-05-18	Stock Option (right to buy)	$4.98	M	4000	Disposed	2023-01-04	Common Stock (4000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4166	Indirect

Footnotes

F1: Exercise of stock option right to buy, which was granted 1/4/2013.

F2: Shares withheld to cover exercise price of options exercised.

F3: Open market sale of Issuer's common stock made in accordance with Issuer's trading policies.