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Contract Option Exercises — April 09, 2026

Contract Option Exercises

12 total filings analysed

Executive Summary

These 12 contract option exercises totaling $1,755,742,802 in obligations (1/12 defense-related, 11/12 civilian) highlight civilian agency dominance, with GSA, VA, NASA, and DHS leading IT services, engineering support, and construction awards. Dominant themes include federal IT network defense and cloud migration, exemplified by CACI's $708M GSA award as the highest-conviction bullish signal for stable, low-risk revenue through 2024. Deloitte Consulting LLP shows concentration with $202M across GSA and Treasury wins, signaling consulting strength. Key risk is execution uncertainty from negative outlays (CACI -$453K) and zero outlays on fresh awards like Brasfield & Gorrie ($95M DHS) starting 2026. Watch multi-year performance ends in 2026-2029 for option exercises and funding progress.

Tracking the trend? Catch up on the prior Contract Option Exercises digest from April 08, 2026.

Investment Signals(7)

  • CACI Secures $708M GSA Network Defense IT Order(HIGH)

    CACI, INC. - FEDERAL's $708,253,079 obligation (ceiling $1.03B) under cost-plus award fee for federal enterprise network defense IT systems provides low-risk revenue through 2024-04-30, despite negative -$453K outlay to date.

  • Deloitte GSA $122M Ginnie Mae Cloud Migration Win(MEDIUM)

    Deloitte Consulting LLP's $121,868,141 time-and-materials order (ceiling $205M) for IT cybersecurity and cloud migration extends to potential 2030-09-13, underscoring multi-year federal cloud priorities.

  • Brasfield & Gorrie $96M DHS Coast Guard Construction(MEDIUM)

    Brasfield & Gorrie LLC's $95,538,222 firm-fixed-price delivery order for USCG Base Charleston infrastructure starts 2026-04-20 through 2029-07-10, signaling future DHS commitment with $0 outlay to date.

  • Deloitte Treasury $80M Intelligence Analysis BPA Call(MEDIUM)

    Deloitte Consulting LLP's $80,346,773 firm-fixed-price BPA call (ceiling $101M) for Treasury FFIAS services has $62.6M outlayed since 2022, with potential to 2027-09-20.

  • Integral Federal $61M State Dept Passport Printer Order(MEDIUM)

    Integral Federal, Inc.'s $61,037,138 firm-fixed-price order for next-gen passport equipment runs through 2026-06-17 with $0 outlay, a full-and-open win for specialized printing machinery.

  • CACI Negative Outlay Flags Execution Delay(HIGH)

    CACI's $708M GSA award shows -$453,104 outlay despite high obligation, raising near-term revenue recognition risks ahead of 2024-04-30 end.

  • Salient CRGT $206M VA Network Support Steady(MEDIUM)

    SALIENT CRGT, INC.'s $205,535,562 firm-fixed-price VA order has $101M outlayed over ~3 years toward 2026-06-21, with subawards exceeding obligation at $269M.

Risk Flags(3)

  • Execution[HIGH RISK]

    Multiple awards with $0 outlays (Brasfield & Gorrie $96M DHS, Integral Federal $61M State, SATSYIL $62M Commerce, ATT Mobility $54M State) signal delayed funding post-2025/2026 starts.

  • Budget[MEDIUM RISK]

    CACI's GSA $708M shows negative -$453K outlay, potentially tied to adjustments or CR uncertainty despite low pricing risk.

  • Competition[MEDIUM RISK]

    Firm-fixed-price structures on Salient CRGT $206M VA, Brasfield $96M DHS heighten performance risk amid full-and-open competition wins.

Opportunities(3)

  • Deloitte Consulting LLP's combined $202M GSA/Treasury IT/consulting awards (ceilings to $307M) offer multi-year upside via options to 2030.

  • CACI's $708M GSA IT order ceiling to $1.03B provides extension potential beyond 2024-04-30.

  • Halvik LLC's 8(a) $133M NASA procurement support (ceiling $149M) and Global Science $55M NOAA R&D set-asides signal small business policy tailwinds.

Sector Themes(3)

  • GSA awards to CACI ($708M network defense) and Deloitte ($122M cloud migration) alongside VA Salient ($206M infrastructure) dominate, with full-and-open wins in NAICS 541512.

  • NASA Halvik $133M 8(a) procurement, Treasury Deloitte $80M intelligence, and Commerce SATSYIL $62M data services reflect multi-year civilian R&D/consulting focus.

  • Brasfield & Gorrie $96M Coast Guard base construction starts 2026, complementing Paragon DHS modification.

Watch List(5)

  • 👁

    {"entity"=>"CACI International Inc", "reason"=>"Negative -$453K outlay on $708M GSA obligation; 2024-04-30 end risks no extension", "trigger"=>"outlay progress vs. obligation; 2024 end-date extension"}

  • 👁

    {"entity"=>"Deloitte Consulting LLP", "reason"=>"$202M combined GSA/Treasury obligations with options to $307M", "trigger"=>"option exercises to 2026-2030 ends"}

  • 👁

    {"entity"=>"Brasfield & Gorrie LLC", "reason"=>"$96M DHS with $0 outlay starting 2026-04-20 performance", "trigger"=>"initial outlays H1 2026"}

  • 👁

    {"entity"=>"SALIENT CRGT, INC.", "reason"=>"$206M VA with $101M outlayed; subawards $269M exceed obligation", "trigger"=>"remaining outlays to 2026-06-21"}

  • 👁

    {"entity"=>"HALVIK, LLC", "reason"=>"$133M NASA 8(a) with $102M outlayed toward $149M ceiling", "trigger"=>"2026-04-30/11-30 performance ends"}

Get daily alerts with 7 investment signals, 3 risk alerts, 3 opportunities and full AI analysis of all 12 filings

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