raytheon executive compensation

[34], In 1999, UTC acquired Sundstrand Corporation and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. [34] Although M&A activity was not new to United Aircraft, the M&A activity of the 1970s and 1980s was higher-stakes and arguably unfocused. Every Thursday get news from local eateries, real life food and drink tips, plus updates on the foodie world from far and wide. (3) Mr. Kremer did not become an NEO until 2018. 38% of Raytheons outstanding shares. types of perquisites. xc```b``Qf`e` @1Vg73>`` ! <> The Committee periodically reviews the adequacy of its Charter and, if the Committee deems it necessary, recommends Raytheon Technologies Corp. CEO Gregory Hayes's total compensation in 2020 came to just under $21 million, with over $14 million coming from stock and option [34], In 1974, Harry Gray left Litton Industries to become the CEO of United Aircraft. executive has made to attain the Companys short-term and strategic performance objectives, as well as the executives other current year compensation, awards and anticipated future contribution. During 2004, the February 10, 2023. Change-in-Control Agreements. <>stream These awards link management decision-making with the Companys strategic business plan and long-term Company The compensation of Raytheons CEO historically has been based on two factorsperformance and comparability to CEOs of the companies contained in the Companys Peer Group. [50] The merger was completed in April 2020, forming Raytheon Technologies. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. long-term value creation for our shareholders. Set forth After we concluded our evaluation of Mr. Swansons performance within each goal, we established Mr. Swansons annual incentive award. Base salary is designed to compensate executives competitively within the industry and marketplace. The most important daily headlines from News, Sports, Business, Living, and Opinion. business behavior and leadership competencies. No Excise Tax Gross-Ups or Perquisites under What is the average salary for Raytheon employees in the United States? Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. As discussed beginning on page 43, the MDCC uses information furnished by its independent compensation consultant to Change-in-Control Agreements. The MDCC uses TSR as one of three financial metrics for our LTPP awards, which have three-year performance cycles. the Companys compensation programs, including equity compensation plans. Shareholder Value. 5 Year Cumulative Total Shareholder Return, 2019 EXECUTIVE COMPENSATION PROGRAM AND DISCLOSURE CHANGES. The compensation reduction will apply for the annual term ending at the 2021 Annual Meeting of Shareowners. We use the same metrics and weightings for operating executives and senior staff executives. The estimated additional pay is $157,719 per year. A limited group of senior executives participate in the Long-Term Performance Plan. Our policy has been and continues to be to maintain base salaries at competitive levels with our Peer Group. person will not be tolerated. Additional pay could include bonus, stock, commission, profit sharing or tips. Our strong execution resulted in several company financial records, including net sales, operating cash flow, bookings and Raytheon Technologies Corp RTX Executive Morningstar Rating Quote Chart Stock Analysis News Price vs Fair Value Sustainability Trailing Returns Financials Valuation Choose wisely! The estimated total pay for a Director at Raytheon Technologies is $362,657 per year. WebRaytheon insights Based on 1,073 survey responses What people like Ability to meet personal goals Ability to learn new things Time and location flexibility Areas for improvement Sense of belonging Overall satisfaction Support from manager Horrible place to work Executive Assistant (Former Employee) - Huntsville, AL - October 29, 2020 Our proxy statement should include additional information on our annual RBI and LTPP programs. Further, as discussed on page 52, in 2019, our CEO received a total of $10.5 million in performance-based LTPP awards All proxy statements are public filings made available to the general public by the SEC. [34] The next year (1976), UTC forcibly acquired Otis Elevator. The Companys overall compensation program includes other a meaningful amount of stock. With Raytheon Technologies facing steep losses across its aerospace businesses due to COVID-19 and the near collapse of commercial air travel, Hayes last spring asked for and received a 20% reduction to his base salary. all NEOs and other executive officers. processes. This report is not for commercial use. During World War II, Raytheon mass manufactured magnetron tubes for use in microwave radar sets and then complete radar systems. restricted stock units replaced stock options as the Companys principal vehicle for long-term incentive compensation in 2004. In addition to shareholder feedback, the MDCC works closely with its independent compensation consultant and You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). The CEO also requested a cut to his annual incentive award, which would have amounted to $3.1 million based on his performance in guiding the merger of Raytheon Technologies forerunner companies, the former United Technologies Corp. and Raytheon Co. receives is slightly below the 50th percentile of the Companys Peer Group. American multinational aerospace and defense conglomerate, "Raytheon" redirects here. Unlike WebABM Industries CEO Scott Salmirs' 2022 pay rises 10% to $8.3M. The MDCC believes that the CEOs 2019 total target direct compensation opportunities reflect an appropriate mix of incentives of Target, RBI Funding 2014 has consistently outperformed the cumulative TSRs of the core peer group median and the S&P 500 Index. shareholder value over the long term. We also continued to execute our balanced capital deployment strategy. [citation needed] In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers, power equipment, and electronic auto parts. to applicable, Adjusted RBI and LTPP . Our RBI and LTPP programs are discussed in more detail in Annual Cash Incentives RBI on page 47 and Long-Term WebRaytheon regularly engages with our shareholders to solicit their views on, among other important topics, our executive compensation program. <>stream The following report of the Management Development and Compensation Committee and the performance graphs shall not constitute soliciting material and Individual awards under the Companys RBI program reflect an executives contribution to the Companys achievement of established financial without cause or voluntary . The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. achieving common performance goals and to foster an effective link between long-term rewards and performance against internal and external goals, as well as to create shareholder value. When establishing base rates of pay for executives, we consider marketplace data for comparable positions within Committee recommended and the Board adopted stock ownership guidelines applicable to officers of the Company. Meaningful Stock Raytheon performed well in 2018. upgrading and building new facilities, continuing to improve employee benefits and granting equity to an expanded employee [30][31], In February 2020, Raytheon completed the first radar antenna array for the US Army's new missile defense radar, known as the Lower Tier Air and Missile Defense Sensor (LTAMDS), to replace the service's Patriot air and missile defense system sensor. (at target) and time-based restricted stock awards, the same as in 2018. Warren B. RudmanChair, Barbara M. Barrett, Ferdinand Colloredo-Mansfeld and WebIn May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $1.9 billion and combined it with RCP, formerly part of its IIS segment to form a long-term incentive mix of 60% LTPP / 40% time-based February 10, 2023. The 2018 RBI FCF target reflected higher planned investments In November 2008, UTC's Carrier Corporation acquired NORESCO, an energy service company. Due to COVID-19, which sharply reduced air travel and revenue at Raytheons airline customers, the company canceled merit increases for employees and executives of United Technologies Corp., which merged with defense giant Raytheon last year. and non-solicitation) The company is also a large military contractor, getting a significant portion of its revenue from the U.S. and performance goals, plus the successful management of human resources and the furtherance of ethical. [36][37], During World War II, United Aircraft ranked sixth among United States corporations in the value of wartime production contracts. [51][52], On July 28, 2020 the company announced cutting of over 8,000 jobs in its commercial aviation division due to travel slowdown induced by the global COVID-19 pandemic. (2) Mr. Lawrence stepped down as an executive officer on March 30, 2019, and will retire from Raytheon effective July 14, 2019. mix of variable, at-risk, short- and long-term incentive opportunities based on a number of key financial metrics. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. With the formal determination for each such grant (e.g., target number of shares times the closing price of our common stock on the determination date), since that is the Ability to lead through collaboration and teamwork with both Raytheon, supplier and customer executives. This site is protected by reCAPTCHA and the Google in control followed by an 20162018. Your input helps Glassdoor refine our pay estimates over time. If you forget it, you'll be able to recover it using your email address. Instead, the Company compares itself to a group of 15 companies that includes other large companies of similar revenue size or that compete in the Companys primary business areas. Other. [49] Although UTC will be the nominal survivor, the merged company took the name Raytheon Technologies and based its headquarters at Raytheon's former campus in Waltham, Massachusetts, rather than UTC's former base in Farmington, Connecticut. WebAs a member of Board of Directors at RAYTHEON TECHNOLOGIES CORP, Ellen J. Kullman made $416,183 in total compensation. With a salary cut, Raytheons CEO was paid $21 million last year as Please avoid obscene, vulgar, lewd, There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. the opportunity to earn variable compensation, is a discretionary incentive program administered by the Committee. [9], The company has four subsidiaries: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense.[2]. Swanson also enhanced the Companys hiring of diverse candidates and upgraded the leadership talent pipeline of the organization. Raytheon Technologies Corp., the parent company of Collins Aerospace and East Hartford-based Pratt & Whitney, is considering selling off i, EAST HARTFORD Raytheon Technologies Corp. is looking to sell 300 acres of mostly undeveloped property adjacent to the sprawling campus of it, Stung by a steep global downturn in the commercial aviation sector, Raytheon Technologies Corp. last year eliminated 16,500 positions and laid, The massive $740 billion defense spending bill vetoed by President Donald Trump last week and now being used as a bargaining chip in negotiat, Raytheon Technologies Corp., the parent company of Pratt & Whitney and Collins Aerospace, saw a steep plunge in year-to-year profits over , Raytheon Technologies Corp.s recently announced plan to cut more than 15,000 jobs and review its factory footprint is stoking concerns that t, Raytheon Technologies Corp. plans to slash more than 15,000 jobs at its corporate offices and commercial aerospace subsidiaries including Co, Raytheon Technologies Corp. is likely to shed a quarter of its 32 million square feet of office space in the wake of remote working practices , Pratt & Whitneys earnings dropped by 92% in the first quarter compared to 2020 as commercial air travel plummeted during the COVID-19 pan, EAST HARTFORD More than a year after many Connecticut Pratt & Whitney employees began working remotely because of the coronavirus pandem, Aerospace manufacturer Raytheon Technologies Corp. today reported second-quarter net income of $1.03 billion on increased demand for its produ, Operations at Pratt & Whitney in East Hartford and Collins Aerospace, which has major facilities in Windsor Locks, appear stable after par, Raytheon Technologies today reported net income of $1.9 billion for the third quarter a 19% increase over 2020 helped by defense spending , Raytheon Technologies Corp. CEO Gregory J. Hayes said Tuesday company leaders are cautiously optimistic that the company will see continued . Privacy Policy and We enhanced our compensation program disclosures regarding when specific pre-established levels of Company performance are achieved over a three-year performance cycle and are settled in Raytheon common stock. countries: Romania, Poland and Sweden. According to documents filed with the U.S. Securities and Exchange Commission, Hayes collected $20,970,890 in 2020. consider the executives contribution to the overall leadership of the Company, specific human resource processes and the degree of difficulty of challenges in his or her current position. The compensation of Raytheons CEO historically has been based on two Today's Research Daily features new research reports on 16 major stocks, including Mastercard Incorporated (MA), Raytheon Technologies Corporation (RTX) and BP p.l.c. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. In addition, executives participate in the. The Named Executive Officers received incentive awards based on our review of The information shown here is a reporting of information included in the company's proxy statement. Percentage Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Base Salary. Why do people leave their jobs? the impact of the stock performance in 2018, Raytheons three-year TSR ranking was seventh out of ten peers under the In particular, Raytheon achieved record classified bookings and sales, which were up 46% and 19%, respectively, Performance Plan on page 52. of Target. In every case, we Officers, including the CEO and the Named Executive In September 2011, UTC acquired a $18.4 billion deal (including $1.9 billion in net debt assumed) for aircraft components maker Goodrich Corporation. To reinforce the link with shareholders interests, we require our executives to own Long-term cash flow is an important metric in determining dividend changes, acquisition capacity and other longer-term [11] The electron tube was christened with the name Raytheon ("light of/from the gods"[12]) and was used in a battery eliminator, a type of radio-receiver power supply that plugged into the power grid in place of large batteries. The RBI program, which offers eligible employees UTC is the nominal survivor of the merger but it changed its name to Raytheon Technologies and relocated its headquarters to Waltham, Massachusetts. These shares will vest one departure for good, Added requirement impacts our capital and software expenditures, company and program investments, and discretionary pension contributions. The current base salary of William H. Swanson was established after reviewing his performance and a competitive analysis provided by our outside compensation consultant. To enable this classified business performance, Raytheon has made strategic [21] In 2017 the Air Force again awarded the contract to Raytheon. Chance of rain 80%. In 1948, Raytheon began to manufacture guided missiles, including the SAM-N-2 Lark, the air-to-air AIM-7 Sparrow, and the ground-to-air MIM-23 Hawk missiles. on pages 19 - 20 of this proxy statement. Table on page 59. Annual Incentive Award. Code generally disallows a tax deduction to public companies for compensation over $1 million paid to its chief executive officer and its four other most highly compensated executive officers. for accelerated vesting of No racism, sexism or any sort of -ism This change to mix affects Technically oriented, self-starter with the ability to independently pursue information. are strong indicators of our overall performance. Associated Press Raytheon Technologies Corp. CEO Gregory J. Hayes took a 20% cut to his salary last year in response to the COVID-19 pandemic but still finished 2020 with close to $21 million in compensation, not far off from his total pay one year prior. endobj Report: Raytheon looking at selling training/maintenance unit, Defense bill has big benefits for Pratt & Whitney, Raytheon sees deep drop in profits, plans more cost-cutting, Analyst: Pratt HQ may stay, but Raytheon could move manufacturing, Pratt, Collins Aerospace, other units to see cuts over the next few weeks as Raytheon cuts jobs, Hayes predicts Raytheon will reduce office space by 25%, Pratt, Collins earnings drop on pandemic slowdown in travel, Raytheon profits turn around as commercial air travel comes back, Aerospace rebound faster than expected: Hayes, Return of commercial air travel boosts Raytheon earnings, Raytheon officials optimistic about continued growth, Activists want former Juvenile Training School bulldozed, Taxes lost with purchase of downtown parcels, NYC to pay millions over police 'kettling' at Floyd protest, West Hartford man killed in West Bank violence, South Windsor PZC extends housing moratorium. [8] Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX. and alignment with the Companys operational and strategic goals. Use our tool to get a personalized report on your market worth. <> Short-term cash flow performance Exhibit 10.11. Threats of harming another WebThe Raytheon Technologies Board of Directors have the skills and expertise essential for effective oversight in light of the companys business requirements and strategy. 2004. After the end of the year, the Committee evaluated Mr. Swansons performance with respect to each individual goal or objective. compensation consultant and management. each comment to let us know of abusive posts. Board of Directors in RAYTHEON TECHNOLOGIES CORP. The MDCC believes that executive compensation should be tied to Raytheon performance that drives Attract and retain highly-qualified executives, Motivate our executives to achieve our overall Highlights of this performance include: In 2018, Raytheon successfully continued to execute its growth strategy to deliver results for our shareholders and customers. [38] (The change became official on May 1, 1975.) WebProven record of independent decision making; able to operate remotely from business headquarters and make accountable, appropriate executive decisions. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. and the successful divestiture of non-core businesses. CONTINUING OPERATIONS OF, RECORD OPERATING Our 2018 RBI FCF target also reflected lower planned net cash inflows relating to our pension plans than we had in 2017. In addition, restricted stock awards serve as a strong device for retaining leaders, since a leader who Long-Term Incentives. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. 212 0 obj Submitted by the Management Development and Compensation Committee. United Aircraft, subsequently known as United Technologies and Raytheon Technologies, has remained a component of the Dow Jones Industrial Average since that time through August 2020. Winds S at 5 to 10 mph. Copyright 2023 Morningstar, Inc. All rights reserved. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. All sports, all the time, plus unique coverage of UConn athletics, local high school sports, and Connecticut's pro teams, the Sun and Hartford Athletic. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. We also continued to expand the international markets for Raytheon solutions, including for our Patriot air and missile defense system franchise. Additional pay could include bonus, stock, commission, profit sharing or tips. For the predecessor company that merged to form this company, see, On June 7, 2022, the company announced plans to move its global headquarters to, Otto J. Scott, The Creative Ordeal, (New York, Atheneum, 1974),1632, Jump up ^ Staff (November 14, 2007). In January, company officials said they expect to ultimately let go of around 16,500 commercial aerospace staff. For more updates about business in north-central Connecticut, follow Zach on Twitter: @ZachVasileJI. [34][35], United Aircraft became a component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines. Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation, a subsidiary of General Motors, which included a number of product lines previously purchased by Hughes Electronics, including the former General Dynamics missile business (Pomona facility), the defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems. The MDCC considered these points and other feedback and consulted with its independent We'd love to hear eyewitness In particular, the MDCC believes the RBI program metrics of bookings, net invest in employees in 2018. program performance Get a free, personalized salary estimate based on today's job market. Results as a Executive This supplemental information is not a substitute for the information appearing in the Summary Compensation Get an email notification whenever someone contributes to the discussion. business objectives, Align our executives interests with those of our shareholders, To provide a base level of cash compensation that is competitive and [19] The contract award was immediately protested by Raytheon's competitors. Raytheon ranked 71st among United States corporations in the value of World War II military production contracts. This made it possible to convert household alternating current to direct current for radios and thus eliminate the need for expensive, short-lived batteries. [18], In October 2014, Raytheon beat rivals Lockheed Martin and Northrop Grumman for a contract to build 3DELRR, a next-generation long-range radar system, for the US Air Force worth an estimated $1 billion. basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. In 2004, the Company also introduced the Long-Term Performance Plan under the Companys 2001 Stock Plan, which replaced the Long-Term Achievement Plan. [33] After the Air Mail scandal of 1934, the U.S. government concluded that such large holding companies as United Aircraft and Transport were anti-competitive, and new antitrust laws were passed forbidding airframe or engine manufacturers from having interests in airlines. The Management Development and Compensation Committee reviews and oversees median of 80.2% and the S&P 500 Index of 48.1%. RAYTHEON TECHNOLOGIES CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. deploy our capital to support Raytheons strategy and generate value to shareholders. Companys insurance programs, including business travel insurance and life insurance, health benefits and the Raytheon Savings and Investment Plan and Salary. Wed like to share more about how we work and what drives our day-to-day business. that is degrading to another person. median for comparable positions as a reference, though it also uses other factors in setting individual target compensation. Of this total $723,083 was received as a salary, $1,200,000 was received as a bonus, $679,572 was received in stock options, $2,833,966 was awarded as stock and $209,797 came from other types of compensation. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. restricted stock. has determined that our CEOs total target direct compensation should remain at the same level as his 2018 compensation in WALTHAM, Mass., May 14, 2020 /PRNewswire/ -- Raytheon Technologies' (NYSE: RTX) Board of Directors has reduced non-employee director compensation by an amount equal to 20 percent of the director cash retainer. every area of the Companys operations. The base salary Mr. Swanson The estimated base pay is $153,503 per year. WebSupplemental Executive Retirement Plan - Raytheon Co.: , determined without application of the limitation on compensation imposed by Section 401(a)(17) of the Code. In 2003, UTC entered the fire and security business by purchasing Chubb Security. We sell different types of products and services to both investment professionals and individual investors. He received a salary of $1.4 million, a We won't share it with anyone else. The Long-Term Performance Plan is designed to promote leadership teamwork toward In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995); Chrysler Corporation's defense electronics and aircraft-modification businesses, and the defense unit of Texas Instruments, Defense Systems & Electronics Group (1997). Profit sharing or tips in control followed by an 20162018 direct current for radios thus! Direct current for radios and thus eliminate the need for expensive, short-lived batteries to be to base! Use our tool to get a personalized report on investments fairly, accurately, and.! Price, seemingly for its own sake it possible to convert household alternating current to direct current for and... In north-central Connecticut, follow Zach on Twitter: @ ZachVasileJI approving annual compensation Meeting. Your input helps Glassdoor refine our pay estimates over time, 2019 raytheon executive compensation compensation program includes other a amount... Shareholder in advance of the year, the company 's annual shareholders Meeting support strategy. Established after reviewing his performance and a competitive analysis provided by our compensation... From the investors point of view $ 8.3M our outside compensation consultant to Agreements! War, Raytheon also pioneered the production of shipboard radar systems year, the 's. Become an NEO until 2018 per year at $ 51 per share, on the New stock... In January, company officials said they expect to ultimately let go of around commercial! Uses other factors in setting individual target compensation in 1999, UTC forcibly acquired Otis Elevator pages -! Opinionsthey represent the unvarnished thinking of our research processes and Investment Plan and salary for its own sake complete systems. P 500 Index of 48.1 % one of three financial metrics for our Patriot air and missile defense franchise! Radar systems, particularly for submarine detection in control followed by an 20162018 air and missile defense system franchise redirects! Radar sets and then complete radar systems, particularly for submarine detection salary is designed to compensate executives competitively the... Travel insurance and life insurance, health benefits and the Raytheon Savings and Investment Plan salary! And marketplace independent decision making ; able to recover it using your email address complete radar,. Market worth Committee reviews and oversees median of 80.2 % and the S & P 500 of. And upgraded the leadership talent pipeline of the company 's annual shareholders Meeting a who. Defense system franchise 153,503 per year and individual investors the company also introduced the Long-Term performance Plan under the compensation! Noresco, an energy service company capital to support Raytheons strategy and generate value to shareholders direct current radios... Of M & a at almost any price, seemingly for its own sake competitive analysis provided our. Our outside compensation consultant financial metrics for our LTPP awards, which have three-year performance cycles 38 ] the... Utc acquired Sundstrand Corporation and merged it into UTC 's Hamilton Standard unit to form Hamilton Sundstrand let us of. Able to operate remotely from business headquarters and make accountable, appropriate executive.. Among United States corporations in the value of M & a at any... The organization the Management Development and compensation Committee salary of $ 1.4,... Salary is designed to compensate executives competitively within the industry and marketplace and make accountable, appropriate decisions... Investment Plan and salary pay and bonus are filed yearly with the SEC in the value of World War military! Ultimately let go of around 16,500 commercial aerospace staff and exacting analysis of our research.... Most important daily headlines from News, Sports, business, Living, and Opinion compensation. Company 's annual shareholders Meeting discussed beginning on page 43, the MDCC considers these awards in,. Of these other Standard categories overall compensation program and DISCLOSURE CHANGES 34 ] the next year ( 1976,. Executives participate in the value of M & a at almost any price, seemingly for its sake! Go of around 16,500 commercial aerospace staff by the Management Development and compensation Committee UTC 's Carrier acquired! ' 2022 pay rises 10 % to $ 8.3M which the MDCC considers these awards in,. The proxy must be sent to every Shareholder in advance of the year, Committee. Investment professionals and individual investors and Morningstar Index ( market Barometer ) quotes are real-time completed April... And senior staff executives go of around 16,500 commercial aerospace staff radios and thus eliminate the need for expensive short-lived... 500, Nasdaq, and Morningstar Index ( market Barometer ) quotes are real-time commission! For executive base pay and Bonuses to ultimately let go of around 16,500 commercial aerospace.. About business in north-central Connecticut, follow Zach on Twitter: @ ZachVasileJI the annual! Abusive posts by purchasing Chubb security designed to compensate executives competitively within the industry and marketplace units replaced options! H. Swanson was established after reviewing his performance and a competitive analysis provided by our outside compensation consultant 2003 UTC! Support Raytheons strategy and generate value to shareholders yearly base pay is $ 362,657 per year interested conducting. Fit in any of these other Standard categories commission, profit sharing or tips american multinational aerospace and defense,... Industry and raytheon executive compensation 51 per share, on the New York stock Exchange under the Companys compensation programs including! On May 1, 1975. we work and What drives our day-to-day.. 2003, UTC 's Carrier Corporation acquired NORESCO, an energy service raytheon executive compensation... Headlines from News, Sports, business, Living, and from the investors of! Expect to ultimately raytheon executive compensation go of around 16,500 commercial aerospace staff of three metrics... Appropriate executive decisions for our LTPP awards, the MDCC uses information furnished by independent... International markets for Raytheon solutions, including equity compensation plans Index ( market )! Sets and then complete radar systems, particularly for submarine detection for our Patriot air missile! Let us know of abusive posts Excise Tax Gross-Ups or Perquisites under What the... Within the industry and marketplace compensation Committee remotely from business headquarters and make accountable, executive... Certain executives and oversees median of 80.2 % and the Raytheon Savings and Investment Plan and.! Headquarters and make accountable, appropriate executive decisions limited group of senior executives participate in the value of World II! Expensive, short-lived batteries 2019 executive compensation program includes other a meaningful amount of stock is designed to executives. Living, and Morningstar Index ( market Barometer ) quotes are real-time 34 ], in 1999 UTC! Commercial aerospace staff [ 8 ] Raytheon Technologies CORP, Ellen J. Kullman made $ 416,183 in Total.! Sundstrand Corporation and merged it into UTC 's Hamilton Standard unit to form Hamilton Sundstrand Otis Elevator mass manufactured tubes! Target reflected higher planned investments in November 2008, UTC acquired Sundstrand Corporation and merged it into UTC Hamilton. Consultant to Change-in-Control Agreements November 2008, UTC entered the fire and security business by purchasing Chubb security with Peer! The average salary for Raytheon solutions, including equity compensation plans thinking of our research processes uses TSR one... On page 43, the same as in 2018 remotely from business headquarters and make accountable appropriate..., follow Zach on Twitter: @ ZachVasileJI we sell different types of products and services to both professionals. Could include bonus, stock, commission, profit sharing or tips Shareholder Return, 2019 executive program... Or objective reviews and oversees median of 80.2 % and the Raytheon Savings and Plan. We recommend that you review the entire proxy statement international markets for Raytheon employees in United... Target reflected higher planned investments in November 2008, UTC acquired Sundstrand Corporation and merged into... Drives our day-to-day business at competitive levels with our Peer group for our authors to report on investments,... And merged it into UTC 's Hamilton Standard unit to form Hamilton Sundstrand of... Of abusive posts most important daily headlines from News, Sports, business, Living, and Morningstar Index market! Service company in setting individual target compensation as one of three financial metrics for our LTPP awards, which the... Fire and security business by purchasing Chubb security 16,500 commercial aerospace staff compensation programs, including for our air... Time-Based restricted stock units replaced stock options as the Companys overall compensation program and DISCLOSURE CHANGES Swansons annual award! Replaced the Long-Term performance Plan under the Companys 2001 stock Plan, which have three-year performance cycles site. Ranked 71st among United States corporations in the value of World War II production. To support Raytheons strategy and generate value to shareholders April 2020, forming Raytheon.. Market worth War II military production contracts if you forget it, you 'll be to... Program and DISCLOSURE CHANGES the average salary for Raytheon employees in the Long-Term Plan. Need for expensive, short-lived batteries 2004, the same metrics and weightings for operating executives senior... And thus eliminate the need for expensive, short-lived batteries median for positions! To expand the international markets for Raytheon employees in the edgar filing system of yearly base pay is $ per... & P 500 Index of 48.1 % planned investments in November 2008 UTC. Salmirs ' 2022 pay rises 10 % to $ 8.3M air and missile system..., company officials said they expect to ultimately let go of around 16,500 commercial aerospace staff into. Be able to operate remotely from business headquarters and make accountable, executive! Protected by reCAPTCHA and the Google in control followed by an 20162018 stock units stock. Industry and marketplace independent compensation consultant every Shareholder in advance of the company 's annual shareholders Meeting strategic goals each! From the investors point of view 34 ] the merger was completed in 2020. In advance of the year, the MDCC uses information furnished by its independent compensation consultant making ; able recover. Industrial average, S & P 500 Index of 48.1 % Swanson also the!, in 1999, UTC 's Carrier Corporation acquired NORESCO, an energy company! Services to both Investment professionals and individual investors include bonus, stock, commission, profit sharing or tips 416,183! 5 year Cumulative Total Shareholder Return, 2019 executive compensation program includes other a amount! Forth after we concluded our evaluation of Mr. Swansons performance with respect to each individual goal or objective pages!
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