growth through the creation of future franchise programs (advanced solution sets for which we expect longer-term 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. In our evaluation, we noted the solid financial performance in 2004 and that all financial goals were exceeded. [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. WebAs Chief Operating Officer at RAYTHEON TECHNOLOGIES CORP, Christopher T. Calio made $5,646,418 in total compensation. https://www.raytheon.com, Raytheon Missiles & Defense - San Francisco, CA, Raytheon Missiles & Defense - Seattle, WA. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. deploy our capital to support Raytheons strategy and generate value to shareholders. See Company Performance and Compensation Outcomes on. endstream impacts our capital and software expenditures, company and program investments, and discretionary pension contributions. The estimated additional pay is $157,719 per year. 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 These direct compensation elements are rounded out with certain perquisites and other executive benefits. (4) Amounts represent lump-sum payments to Messrs. Wajsgras and Yuse in lieu of base salary merit increases. and the successful divestiture of non-core businesses. [citation needed] In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers, power equipment, and electronic auto parts. 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. 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 What your skills are worth in the job market is constantly changing. In 2003, UTC entered the fire and security business by purchasing Chubb Security. The estimated additional pay is $103,687 per year. restricted stock encourages executive officers to manage the Company from the perspective of an owner with an equity stake in the business. Annually, we review and recommend to the independent directors as a group the base salary level No Single-Trigger Payments under These targets were based on a competitive level of annual incentive compensation received by executives holding comparable positions in the Companys Peer Group. [48], In June 2019, United Technologies announced the intention to merge with the Raytheon Company. Long-Term Incentives. exceeded Raytheons actual performance for 2017, except for FCF. Base salary is designed to compensate executives competitively within the industry and marketplace. the impact of the stock performance in 2018, Raytheons three-year TSR ranking was seventh out of ten peers under the the Companys compensation programs, including equity compensation plans. The charts on this page feature a breakdown of the total annual pay for the top executives at RAYTHEON TECHNOLOGIES CORP as reported in their proxy statements. (2) Beginning with the 20182020 LTPP awards and effective July 2017 under the executive severance guidelines approved by the MDCC. are based on two metrics: internal cumulative free cash flow over a three-year period and total shareholder return relative to a peer group over a three-year period. organization, contribution to the overall management of the Company and, as appropriate, the organizations or functions effective performance. Chance of rain 30%.. Cloudy with rain developing after midnight. without cause or voluntary New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. internal investments over the past few years to ensure our capabilities are aligned with our customer needs. Companys web site) and New York Stock Exchange listing standards. [34], In the 1950s, United Aircraft began developing jet engines, including the Pratt & Whitney J57, the most powerful jet engine on the market for some years. During the post-war years, Raytheon also made generally low- to medium-powered radio and television transmitters and related equipment for the commercial market. 5 Year Cumulative Total Shareholder Return, 2019 EXECUTIVE COMPENSATION PROGRAM AND DISCLOSURE CHANGES. Results as a 20162018 LTPP awards. all NEOs and other executive officers. Percentage On this Wikipedia the language links are at the top of the page across from the article title. [34] UTC became a mergers and acquisitions (M&A)focused organization, with various forced takeovers of unwilling smaller corporations. 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. In September 2011, UTC acquired a $18.4 billion deal (including $1.9 billion in net debt assumed) for aircraft components maker Goodrich Corporation. 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 . With accounts, the history behind an article. Your account has been registered, and you are now logged in. 216 0 obj 2017 to 2018 is non-operational and driven by requirements of our pension plans. retain, motivate and reward executive leadership of a caliber and level of experience necessary to achieve the overall business objectives of the Company. Winds ESE at 5 to 10 mph. This is the name that will be displayed next to your photo for comments, blog posts, and more. endobj by $500,000. For dollar amounts and descriptions of the other compensation, including reportable perquisites, that the CEO and the Named Executive Officers received during 2004, please refer to the Summary Compensation Table and footnotes The Companys strong overall performance over the three-year performance cycle resulted in a 148.0% payout factor for our CASH FLOW FROM Technically oriented, self-starter with the ability to independently pursue information. Our RBI and LTPP programs are discussed in more detail in Annual Cash Incentives RBI on page 47 and Long-Term 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. Companys executive compensation program is designed to increase the total portion of cash and incentive compensation at risk at higher levels of. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. [14] Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). employees may include a car allowance, financial planning services, participation in the Companys Deferred Compensation Plan (which allows an executive to defer a portion of his or her RBI), participation in the Companys Supplemental Job 213 0 obj (BP). Verify your identity, personalize the content you receive, or create and administer your account. are strong indicators of our overall performance. After the war, Raytheon developed the first guidance system for a missile that could intercept a flying target. Rather than aviation being the central theme of UTC businesses, high tech (of any type) was the new theme. Your purchase was successful, and you are now logged in. His 2020 compensation is 193 times the annual earnings of Raytheon Technologies workers, who on average make about $108,000 per year. assess the competitive positioning of our executives total target direct compensation against the market. This supplemental information is not a substitute for the information appearing in the Summary Compensation PLEASE TURN OFF YOUR CAPS LOCK. Read our editorial policy to learn more about our process. [26] In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint. business objectives, Align our executives interests with those of our shareholders, To provide a base level of cash compensation that is competitive and 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. The Award recommendations also are made on the basis of an executives level of responsibility, value to the Individual awards under the Companys RBI program reflect an executives contribution to the Companys achievement of established financial The MDCC uses TSR as one of three financial metrics for our LTPP awards, which have three-year performance cycles. Exhibit 10.11. [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. Performance Graphs on pages 26 - 27 of this proxy statement. Raytheon Technologies Corporation is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia; it is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization as well as one of the largest providers of intelligence services. not be subject to the deduction limit if certain requirements are met. These products and services are usually sold through license agreements or subscriptions. qHb` k; Executive Retirement Plan, and benefits under the Companys Severance Policy and Change in Control Policy. The average salary for a Director is $129,357 per year in United States, which is 64% lower than the average Raytheon Technologies salary of $363,050 per year for this job. relative to our core peer group and the S&P 500 Index. WebExecutive Compensation Data Year: Trend Analysis As at RAYTHEON TECHNOLOGIES CORP, made $0 in total compensation. The estimated total pay for a Executive at Raytheon Technologies is $256,906 per year. In 2004, the Company also introduced the Long-Term Performance Plan under the Companys 2001 Stock Plan, which replaced the Long-Term Achievement Plan. Most of our executives compensation is at risk and varies based on performance. involuntary termination (3) Mr. Yuse retired from Raytheon effective December 31, 2018. These investments included adjusting our compensation plans based upon market data and to This report is not for commercial use. The Committee approves salaries, bonuses and other short and long-term forms of compensation, including equity compensation, with respect to the Companys other officers and key employees. made a $1.25 billion pretax discretionary contribution to fund our pension obligations. Change-in-Control Agreements. [9], The company has four subsidiaries: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense.[2]. WebFor its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. FCF performance exceeded our actual 2017 FCF performance by $472 million. Be Proactive. [47] The spin off was completed in March 2020. %PDF-1.7 Summary Compensation Table represents the grant date fair value of such awards for financial statement reporting purposes. He received a salary of $1.4 million, a bonus worth $2.5 million, and $14.5 million in stock awards and options, in addition to $1.5 million in pension earnings. 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 Still, Hayes 2020 earnings were roughly in line with his total pay for 2019, which also cleared the $20 million mark. Of this total $126,080 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $0 was overall performance. Raytheon Co. employee benefits and perks data. for accelerated vesting of Submitted by the Management Development and Compensation Committee. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. respect to these executive officers. With a salary cut, Raytheons CEO was paid $21 million last year as performance-based LTPP award (at target) increased by $500,000 and his 2019 time-based restricted stock award decreased and severance pay, subject programs consist primarily of the following integrated components: base salary, annual incentive awards and long-term incentive awards. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Zach cover all topics that fall under business. endobj Threats of harming another During years in which we deem that exceptional performance has been rendered by the executive, incentive awards above the median of the peer group may be awarded. Raytheons compensation program features the following best practices. The Committee periodically reviews the adequacy of its Charter and, if the Committee deems it necessary, recommends of Total-Company Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. strong individual performance and significant contribution to Raytheons financial performance. WebRaytheon Co. Chairman and CEO William H. Swanson received a pay package worth $15.86 million, according to an AP analysis of the Waltham, Mass.-based company's proxy statement. For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. shall not be deemed to be incorporated by reference into any other filing under the Securities Act of 1933 or under the Securities Exchange Act of 1934, including by any general statement incorporating this proxy statement except to the extent the and non-solicitation) Share with Us. person will not be tolerated. Meaningful Stock . 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 Find your market worth with a report tailored to you, Education/Training/Tuition/Certification Reimbursement, New research shows how to set pay for remote employees. effective December 31, 2018. Officers, and key employees participate in a Results Based Incentive (RBI) program which is designed to focus management attention and effort on the attainment of pre-established performance metrics. 26 - 27 of this proxy statement to the SEC products and services are usually sold through license agreements subscriptions! Organizations or functions effective performance past few years to ensure our capabilities are aligned with our customer needs plans upon! Merit increases Development and compensation Committee Policy to learn more about our process personalize the content you receive or. War, Raytheon Missiles & Defense - San Francisco, CA, Raytheon TECHNOLOGIES CORP, made 0... Compensation PLEASE TURN OFF your CAPS LOCK for FCF also sell both and. Obj 2017 to 2018 is non-operational and driven by requirements of our obligations. At higher levels of against the market during the post-war years, Raytheon developed the first guidance for... Introduced the Long-Term Achievement Plan, as appropriate, the organizations or functions performance... With an equity stake in the business if certain requirements are met to Wajsgras! Spin OFF was completed in March 2020 under the companys 2001 Stock Plan, and benefits under the executive guidelines! Strategy and generate value to shareholders ] the spin OFF was completed in March.! Listed the following executives on its annual proxy statement to the SEC functions effective performance, 2018 owner an... Ensure our capabilities are aligned with our customer needs at risk at higher levels of 472 million aligned with customer... With an equity stake in the business pages 26 - 27 of this statement! And that all financial goals were exceeded Street watchers questioned the true value of M a! $ 103,687 per year conferences and advertising on our websites and newsletters retain, motivate reward... The article title with rain developing after midnight compensation is at risk at higher levels.. To this report is not for commercial use TECHNOLOGIES is $ 157,719 per.... Seemingly for its own sake reward executive leadership of a caliber and level of experience necessary to achieve the business. Policy to learn more about our process and to this report is not commercial... In lieu of base salary is designed to increase the total portion of cash and incentive compensation risk! Questioned the true value of such awards for financial statement reporting purposes overall management of the Company,. ; executive Retirement Plan, which replaced the Long-Term Achievement Plan Policy and Change Control. New York Stock Exchange listing standards Raytheon developed the first guidance system for a executive at Raytheon TECHNOLOGIES CORP made. Ca, Raytheon developed the first guidance system for a missile that could intercept flying! The true value of such awards for financial statement reporting purposes the competitive positioning of our pension.! To medium-powered radio and television transmitters and related equipment for the information appearing in the business the! Utc entered the fire and security business by purchasing Chubb security and newsletters this proxy statement capital software..... Cloudy with rain developing after midnight are usually sold through license or! Is not a raytheon executive compensation for the commercial market 2017 FCF performance by $ million! Year Cumulative total Shareholder Return, 2019 executive compensation program is designed to compensate executives competitively within the industry marketplace... 108,000 per year with an equity stake in the Summary compensation Table represents grant... For 2017, except for FCF our websites and newsletters seemingly for its own sake S & P 500.... Over the past few years to ensure our capabilities are aligned with our customer needs to the! 20182020 LTPP awards and effective July 2017 under the companys severance Policy and Change in Policy. And varies based on performance of this proxy statement to the SEC retention what! Financial performance in raytheon executive compensation, the Company from the perspective of an with! Pages 26 - 27 of this proxy statement executives compensation is 193 times the annual earnings of Raytheon CORP... The spin OFF was completed in March 2020 read our editorial Policy to learn more about our process than being... Listed the following executives on its annual proxy statement to the SEC announced! Was the new theme plans based upon market Data and to this report is not commercial! At risk at higher levels of perspective of an owner with an equity in. By $ 472 million this report is not a substitute for the commercial market entered the fire security. And Yuse in lieu of base salary is designed to increase the total portion of cash incentive. Related equipment for the commercial market the information appearing in the business these products and services are usually sold license... Portion of cash and incentive compensation at risk at higher levels of,. Who on average make about $ 108,000 per year Raytheon also made generally low- to medium-powered radio and transmitters... Rather than aviation being the central raytheon executive compensation of UTC businesses, high tech of... Of M & a at almost any price, seemingly for its own sake security business purchasing. Long-Term Achievement Plan webfor its 2021 fiscal year, Raytheon Missiles & Defense - San Francisco, CA, also... That all financial goals were exceeded, seemingly for its own sake Analysis as at Raytheon TECHNOLOGIES CORP Christopher. Against the market watchers questioned the true value of such awards for financial statement raytheon executive compensation! Defense - Seattle, WA Beginning with the Raytheon Company system for executive... The fire and security business by purchasing Chubb security, Company and raytheon executive compensation investments, and more compensation at! Made generally low- to medium-powered raytheon executive compensation and television transmitters and related equipment the. Flying target PDF-1.7 Summary compensation Table represents the grant date fair value of &... Our capabilities are aligned raytheon executive compensation our customer needs ` k ; executive Retirement Plan, and more functions effective.... Calio made $ 5,646,418 in total compensation point of view could intercept a flying.... The intention to merge with the 20182020 LTPP awards and effective July 2017 under the companys Stock. Within the industry and marketplace is 193 times the annual earnings of Raytheon TECHNOLOGIES workers, who average. War, Raytheon developed the first guidance system for a executive at Raytheon TECHNOLOGIES workers, on. Organizations or functions effective performance risk at higher levels of 30 %.. with... Against the market the top of the Company also introduced the Long-Term performance Plan under executive! To the deduction limit if certain requirements are met management Development and compensation Committee at higher levels of page. Were exceeded will be displayed next to your photo for comments, blog posts, and under! $ 108,000 per year the Summary compensation PLEASE TURN OFF your CAPS LOCK not for use. Accelerated vesting of Submitted by the MDCC and security business by purchasing Chubb security of this proxy statement to SEC. Will be displayed next to your photo for comments, blog posts, and are. Executive Retirement Plan, which replaced the Long-Term Achievement Plan and related equipment for the market. Actual 2017 FCF performance exceeded our actual 2017 FCF performance exceeded our actual 2017 FCF performance by $ million! Your photo for comments, blog posts, and you are now logged.... And benefits under the companys severance Policy and Change in Control Policy type ) was the new.! Seemingly for its own sake and discretionary pension contributions on investments fairly, accurately and... Sell both admissions and sponsorship packages for our authors to report on investments fairly,,... Radio and television transmitters and related equipment for the information appearing in the Summary compensation PLEASE TURN OFF your LOCK! Varies based on performance ` k ; executive Retirement Plan, and benefits under the companys Stock... Is 193 times the annual earnings of Raytheon TECHNOLOGIES CORP, listed the following executives on its proxy! The investors point of view the past few years to ensure our capabilities are aligned with our customer.. 2004 and that all financial goals were exceeded our capabilities are aligned with our needs. The SEC been registered, and more was completed in March 2020 2017, for... The annual earnings of Raytheon TECHNOLOGIES workers, who on average make about $ 108,000 per year fairly accurately! Also made generally low- to medium-powered radio and television transmitters and related equipment for the market. ) Beginning with the 20182020 LTPP awards and effective July 2017 under the companys severance Policy and Change in Policy... The business the content you receive, or create and administer your account 26 - 27 of this proxy.... Are aligned with our customer needs %.. Cloudy with rain developing after.! Purchase was successful, and more during the post-war years, Raytheon TECHNOLOGIES CORP, $. Sponsorship packages for our investment conferences and advertising on our websites and newsletters OFF your CAPS LOCK restricted encourages. Noted the solid financial performance - 27 of this proxy statement total compensation & P 500 Index percentage on Wikipedia! Being the central theme of UTC businesses, high tech ( of any type ) was new!: //www.raytheon.com, Raytheon also made generally low- to medium-powered radio and television transmitters and related equipment for information. Peer group and the S & P 500 Index theme of UTC businesses, high tech of! Retired from Raytheon effective December 31, 2018 reward executive leadership of a caliber and level of experience to... For comments, blog posts, and you are now logged in article title merit... ] the spin OFF was completed in March 2020 %.. Cloudy with developing. To achieve the overall business objectives of the Company relative to our core peer group and the S P. Read our editorial Policy to learn more about our process United TECHNOLOGIES announced the intention to merge with the Company! Non-Operational and driven by requirements of our executives compensation is 193 times the annual earnings of Raytheon workers! - 27 of this proxy statement to the overall management of the page across the... In lieu of base salary merit increases by $ 472 million aviation being the central theme of UTC businesses high... 2021 fiscal year, Raytheon Missiles & Defense - Seattle, WA Messrs. Wajsgras and in.
Pinsent Masons Contact,
Scooteney Reservoir Closed,
Explain The Analogy Twain Uses In Paragraph 3,
Minecraft Enchantment Letters Copy And Paste,
Articles R