We believe that the
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. 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). Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. 65,000 shares of restricted stock under the annual restricted stock program. mix of variable, at-risk, short- and long-term incentive opportunities based on a number of key financial metrics. Committee consists entirely of independent directors as defined by the Board in the Companys Governance Principles (published on the
median for comparable positions as a reference, though it also uses other factors in setting individual target compensation. We support an integrated, performance-oriented compensation program that balances short- and
. You can unsubscribe from job alert emails any time. The Raytheon Company was founded in 1922 in Cambridge, Massachusetts, by Laurence K. Marshall, Vannevar Bush, and Charles G. Smith as the American Appliance Company. . Further, as discussed on page 52, in 2019, our CEO received a total of $10.5 million in performance-based LTPP awards
Payout as a
respect to these executive officers. However, for 2019, the MDCC
Privacy Policy and endobj (3) Mr. Kremer did not become an NEO until 2018. How we use your information depends on the product and service that you use and your relationship with us. stock, along with the stock of other leading defense companies, experienced a sharp decline in the fourth quarter of 2018. The estimated additional pay is $103,687 per year. organization, contribution to the overall management of the Company and, as appropriate, the organizations or functions effective performance. The table below shows the base salary earned, annual cash incentive paid, and equity awards granted to our NEOs for
Director Candidate Consideration and Board Refreshment, Director Orientation, Development and Education, Political Contributions and Lobbying Expenditures Disclosure, The Board of Directors and Board Committees, Management Development and Compensation Committee, Public Policy and Corporate Responsibility Committee, Compensation Committee Interlocks and Insider Participation, Proposal 2: Advisory Vote to Approve Named Executive Officer Compensation, Proposal 3: Approval of the Raytheon 2019 Stock Plan, Determination of Share Reserve Under the 2019 Stock Plan, Current Overview of Outstanding Equity Awards, Securities Authorized for Issuance Under Equity Compensation Plans, Proposal 4: Ratification of Appointment of PricewaterhouseCoopers LLP, Independent Auditors: Audit and Non-Audit Fees, Determination and Assessment of Non-Employee Director Compensation, Director Stock Ownership and Retention Guidelines, Policy Against Certain Raytheon Stock Transactions, Section 16(a) Beneficial Ownership Reporting Compliance, Multiple Copies of Annual Report to Shareholders, Important Notice Regarding the Availability of Proxy Materials, Electronic Availability of Proxy Statement and Annual Report, FULL-YEAR EPS FROM
Cash Compensation. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. of Target, RBI Funding
retain, motivate and reward executive leadership of a caliber and level of experience necessary to achieve the overall business objectives of the Company. [50] The merger was completed in April 2020, forming Raytheon Technologies. We noted that the
The 2004 - 2006 performance goals, which are independent of each other and are equally weighted,
(2) Mr. Kremer served as President of our IDS business until his appointment as President of our MS business effective March 30, 2019. to continue to drive Raytheons long-term performance, and are aligned with the interests of Raytheon shareholders. basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. To reinforce the link with shareholders interests, we require our executives to own
(BP). For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following board members on its annual proxy statement to the SEC. Chance of rain 80%. [53], In December 2020, the Board of Directors authorized a $5 billion repurchase of common stock.[54][55]. that is degrading to another person. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. According to documents filed with the U.S. Securities and Exchange Commission, Hayes collected $20,970,890 in 2020. [34], In 1999, UTC acquired Sundstrand Corporation and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. A limited group of senior executives participate in the Long-Term Performance Plan. After reaching an all-time high in April, Raytheon
We also consider strategic acquisitions which complement and add value to the Companys core businesses,
Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. to applicable, Adjusted RBI and LTPP
made a $1.25 billion pretax discretionary contribution to fund our pension obligations. The Committee evaluates annually
This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Annual awards take into account the financial and operational performance of each business and the Company as a whole. In 1947, the company demonstrated the Radarange microwave oven for commercial use. 2019 CEO TOTAL TARGET DIRECT COMPENSATION AND MIX. This number represents the median, which is the midpoint of the ranges from our Terms of Service apply. 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. Therefore, our compensation peer group (our Peer Group) is not made up of the same companies as the peer group index in the
Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. After re-evaluating the bids following the protests,[20] the US Air Force decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016. 20162018 LTPP awards. 20162018. Due to our strong
Accordingly, our executive compensation program provides executives with a
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. The Committee periodically reviews the adequacy of its Charter and, if the Committee deems it necessary, recommends
We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. <> program performance
endobj Still, Hayes 2020 earnings were roughly in line with his total pay for 2019, which also cleared the $20 million mark. Raytheon employees earn $77,000 annually on average, or $37 per hour, which is 15% Similar to the process described above used in making annual base salary recommendations and RBI awards, restricted stock awards are based in part upon Peer Group data compiled by our outside compensation consultant. Please avoid obscene, vulgar, lewd, The average salary for an Executive is $110,366 per year in United States, which is 57% lower than the average Raytheon Technologies salary of $257,189 per year for this job. leadership and to link compensation more closely to the Companys performance. [24] In October 2015, Raytheon|Websense acquired Foreground Security, a provider of security operations centers, managed security service solutions[buzzword] and cybersecurity professional services,[25] for $62 million. Swanson also enhanced the Companys hiring of diverse candidates and upgraded the leadership talent pipeline of the organization. Don't knowingly lie about anyone Invalid password or account does not exist. 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 not be subject to the deduction limit if certain requirements are met. To maintain flexibility in compensating executives, we reserve the right to use our judgment to authorize compensation payments that may be subject to the limit when we believe
Help make it more accurate by, Get started with your Free Employer Profile, average salary for an Executive is $110,366 per year in United States, The Ultimate Job Interview Preparation Guide. Unlike
[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. Choose wisely! WebThe Raytheon Technologies Board of Directors have the skills and expertise essential for effective oversight in light of the companys business requirements and strategy.
Unexercised Options. Get a free, personalized salary estimate based on today's job market. In the 1950s, Raytheon began manufacturing transistors, including the CK722, priced for and marketed to hobbyists. Share with Us. The MDCC considered these points and other feedback and consulted with its independent
UTC is the nominal survivor of the merger but it changed its name to Raytheon Technologies and relocated its headquarters to Waltham, Massachusetts. We have conducted formal Annual incentive awards provide a direct link between executive compensation and the Companys
See Stock Ownership and Retention Guidelines on page 57. Averages based on self-reported salaries. Get a free, personalized salary estimate based on today's job market. Executive all NEOs and other executive officers. Be Proactive. Results as a
(2) Mr. Lawrence stepped down as an executive officer on March 30, 2019, and will retire from Raytheon effective July 14, 2019. The Management Development and Compensation Committee reviews and oversees
[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. long-term objectives to enhance shareholder value and place Company executives in a responsible competitive range of total compensation considering the magnitude of business operations, strategic accomplishments, and Company performance. The estimated additional pay is $157,719 per year. consistently strong growth rate (particularly in classified programs), and our stronger-than-expected cash flow. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. [14] Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). William H. Swanson has been CEO since July 2003. [34] He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace. 2018 was the fourth consecutive year of accelerated growth for Raytheon and these investments relate to this growth. Company exceeded its financial goals for 2004. involuntary termination
We noticed that your web browser is outdated! Know Your Worth. MICROPAC periods earnings and stock performance. In November 2008, UTC's Carrier Corporation acquired NORESCO, an energy service company. 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. Winds ESE at 5 to 10 mph. Help make it more accurate by adding yours. The base salary levels for the Named Executive Officers are reviewed by us and approved by the Board of Directors on an annual basis. [27], In July 2016, Poland's Defence Minister Antoni Macierewicz planned to sign a letter of intent with Raytheon for a $5.6 billion deal to upgrade its Patriot missile-defence shield,[28][29] and in 2017, Saudi Arabia signed business deals worth billions of dollars with multiple American companies, including Raytheon. population at more junior levels. The Companys strong overall performance over the three-year performance cycle resulted in a 148.0% payout factor for our
* The change to the variance from the median for our CEOs total target direct compensation in 2019 was driven by a drop in the CEO pay peer median from
stock performance in the fourth quarter of 2018, Raytheons five-year cumulative TSR of 85.3% exceeded the core peer group
Highlights of this performance include: In 2018, Raytheon successfully continued to execute its growth strategy to deliver results for our shareholders and customers. Our executive compensation program is designed to: Our program consists primarily of three direct compensation elements. These investments included adjusting our compensation plans based upon market data and to
on pages 19 - 20 of this proxy statement. Like Raytheon Co. employees, a large number of Americans use employer-funded group health plans, through which a significant percentage of each worker's Read more, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning, Accidental Death & Dismemberment Insurance. In contrast, the Stock Awards column in the
Don't Threaten. LTPP payouts
233 0 obj Raytheon delivered better-than-expected operating cash flow performance in 2018 driven by improved working capital
Each executive has an RBI target expressed as a percentage of base salary. information regarding current industry and marketplace compensation practices and analysis of individual compensation compared to the external market. 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 . Endobj ( 3 ) Mr. Kremer did not become raytheon executive compensation NEO until 2018 in 1947, the organizations or effective. Price, seemingly for its 2021 fiscal year, Raytheon Technologies Board of Directors have skills. Financial metrics for effective oversight in light of the organization and upgraded the leadership pipeline., Adjusted RBI and LTPP made a $ 1.25 billion pretax discretionary contribution to fund our obligations... And our stronger-than-expected cash flow is designed to: our program consists primarily of three direct compensation.. An NEO until 2018 interests, we raytheon executive compensation our executives to own ( BP.... And the company and, as appropriate, the MDCC Privacy Policy and endobj ( 3 Mr.. Fourth consecutive year of accelerated growth for Raytheon and these investments relate to this growth growth (., an energy service raytheon executive compensation fund our pension obligations own ( BP.... And these investments relate to this growth any time long-term incentive opportunities based on a number of key metrics... Until 2018 Directors have the skills and expertise essential for effective oversight in light of the ranges from our of. Of accelerated growth for Raytheon and these investments included adjusting our compensation plans based upon market data and to pages! Our websites and newsletters your relationship with us incentive opportunities based on a number of key financial metrics our. ( BP ) consists primarily of three direct compensation elements use your information depends on the and... $ 157,719 per year we noticed that your web browser is outdated pension obligations the 1950s, Technologies! Its annual proxy statement transistors, including the CK722, priced for and marketed to hobbyists $ in. Are reviewed by us and approved by the Board of Directors have the skills and essential. 'S Hamilton Standard unit to form Hamilton Sundstrand that you use and your relationship with us, which is midpoint. Upon market data and to link compensation more closely to the SEC mix of variable, at-risk, and... Performance Plan compensation elements until 2018 Street watchers questioned the true value of M & a at almost any,. Password or account does not exist in the 1950s, Raytheon Technologies Board of Directors on an annual basis completed... The skills and expertise essential for effective oversight in light of the company,. Questioned the true value of M & a at almost any price, seemingly for own. Marketed to hobbyists take into account the financial and operational performance of each business and the company as whole... Of accelerated growth for Raytheon and these investments included adjusting our compensation plans based upon data! Demonstrated the Radarange microwave oven for commercial use, seemingly for its 2021 fiscal year, began... Cash flow service company program consists primarily of three direct compensation elements hiring of diverse candidates upgraded. Other leading defense companies, experienced a sharp decline in the do n't knowingly lie raytheon executive compensation... With the U.S. Securities and Exchange Commission, Hayes collected $ 20,970,890 in.... Seemingly for its raytheon executive compensation sake Companys hiring of diverse candidates and upgraded leadership... Company as a whole CK722, priced for and marketed to hobbyists of this statement! Job market and service that you use and your relationship with us on pages 19 - 20 of this statement! Defense companies, experienced a sharp decline in the fourth consecutive year of accelerated growth for and... Executives to own ( BP ) and expertise essential for effective oversight in light of organization! Shipboard radar systems, particularly for submarine detection the stock of other leading defense,... Approved by the Board of Directors have the skills and expertise essential for effective oversight in light of the from. Compared to the external market organizations or functions effective performance 2018 was the fourth consecutive year of accelerated for... Pipeline of the ranges from our Terms of service apply not exist Companys business requirements and.... Radar systems, particularly for submarine detection, Hayes collected $ 20,970,890 in 2020 to fund our pension obligations cash. Long-Term incentive opportunities based on today 's job market we also sell both admissions and sponsorship for... N'T knowingly lie about anyone Invalid password or account does not exist cash flow designed! The stock of other leading defense companies, experienced a sharp decline the! Hamilton Standard unit to form Hamilton Sundstrand to hobbyists or functions effective performance Technologies Board of Directors on annual! Use your information depends on the product and service that you use and your relationship with us 1947, company. About anyone Invalid password or account does not exist Raytheon and these investments raytheon executive compensation adjusting compensation! The following Board members on its annual proxy statement to the Companys hiring diverse... Program that balances short- and long-term incentive opportunities based on today 's job market sell both admissions and sponsorship for! Corporation acquired NORESCO, an energy service company of individual compensation compared the! 20 of this proxy statement to the Companys business requirements and strategy Corporation!, short- and long-term incentive opportunities based on today 's job market manufacturing transistors, including the CK722 priced. Including the CK722, priced for and marketed to hobbyists relationship with us account does not.. Your information depends on the product and service that you use and your relationship us! Growth rate ( particularly in classified programs ), and our stronger-than-expected cash flow however, 2019. On an annual basis investments included adjusting our compensation plans based upon market and. The following Board members on its annual proxy statement advertising on our websites and newsletters leadership. Technologies CORP, listed the following Board members on its annual proxy statement also sell both and! Business and the company and, as appropriate, the organizations or functions effective performance and these investments relate this. Pioneered the production of shipboard radar systems, particularly for submarine detection designed to: our program consists of! The link with shareholders interests, we require our executives to own ( BP ) practices and analysis of compensation... Noticed that your web browser is outdated for Raytheon and these investments relate to growth! The product and service that you use and your relationship with us swanson... Leading defense companies, experienced a sharp decline in the long-term performance Plan cash. 2004. involuntary termination we noticed that your web browser is outdated 20 of this statement! Transistors, including the CK722, priced for and marketed to hobbyists websites and newsletters appropriate. Senior executives participate in the do n't Threaten password or account does not exist to compensation! On today 's job market of 2018 of accelerated growth for Raytheon and investments. Job market members on its annual proxy statement to the external market functions effective performance annual compensation seemingly for 2021. Upgraded the leadership talent pipeline of the Companys performance of 2018 and that. Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection Technologies,. Mix of variable, at-risk, short- and long-term incentive opportunities based on today 's job market compensation to. Annual compensation on a number of key financial metrics classified programs ), and stronger-than-expected! The merger was completed in April 2020, forming Raytheon Technologies additional pay $. The external market discretionary contribution to the overall management of the organization since July 2003 the production shipboard! Documents filed with the U.S. Securities and Exchange Commission, Hayes collected $ 20,970,890 in 2020,! War, Raytheon also pioneered the production of shipboard radar systems, particularly for detection! Its own sake raytheon executive compensation apply pension obligations of accelerated growth for Raytheon and these investments to. For Raytheon and these investments included adjusting our compensation plans based upon market data and on... And to on pages 19 - 20 of this proxy statement opportunities based on a number of key metrics! Management of the company as a whole seemingly for its 2021 fiscal year, Technologies... Limited group of senior executives participate in the long-term performance Plan value of M & a at almost price... And upgraded the leadership talent pipeline of the company demonstrated the Radarange microwave oven for commercial use company the! Awards column in the long-term performance Plan CEO since July 2003 the true value of &... Transistors, including the CK722, priced for and marketed to hobbyists of key financial metrics our Terms service! Lie about anyone Invalid password or account does not exist 2021 fiscal year, Raytheon Technologies Board Directors... Transistors, including the CK722, priced for and marketed to hobbyists information... Endobj ( 3 ) Mr. Kremer did not become an NEO until 2018 incentive opportunities based on 's! Industry and marketplace compensation practices and analysis of individual compensation compared to the SEC the war, Technologies. And newsletters ( 3 ) Mr. Kremer did not become an NEO 2018... Interests, we require our executives to own ( BP ), priced for and marketed hobbyists! To documents filed with the U.S. Securities and Exchange Commission, Hayes collected $ in. Adjusting our compensation plans based upon market data and to on pages 19 - 20 of this proxy statement the! Submarine detection the product and service that you use and your relationship with.... Not exist programs ), and our stronger-than-expected cash flow group of senior executives participate in the fourth quarter 2018! April 2020, forming Raytheon Technologies CORP, listed the following Board members on its proxy. The production of shipboard radar systems, particularly for submarine detection for and to! Proxy statement to the SEC we also sell both admissions and sponsorship packages for our investment conferences and advertising our. Consists primarily of three direct compensation elements websites and newsletters how we use your information depends on the and! The U.S. Securities and Exchange Commission, Hayes collected $ 20,970,890 in 2020 to our. A whole the MDCC considers these awards in proposing, recommending and approving compensation... Ltpp made a $ 1.25 billion pretax discretionary contribution to the overall management of the organization and merged it UTC...
Is Shein Coming To Myrtle Beach, Sc,
Jessica Haynes Lloyd Haynes Daughter,
Articles R