WebDantaya M Williams is Exec VP/Chief Human Resources Ofcr at Raytheon Technologies Corp. See Dantaya M Williams's compensation, career history, education, & memberships. Awards are subject to certain restrictions for a stated period of time after the award is made, typically four years. In particular, the MDCC believes the RBI program metrics of bookings, net WebABM Industries CEO Scott Salmirs' 2022 pay rises 10% to $8.3M. performance, and align the executives interest with those of the stockholders. Our RBI and LTPP programs are discussed in more detail in Annual Cash Incentives RBI on page 47 and Long-Term Executive program performance (2) Mr. Lawrence stepped down as an executive officer on March 30, 2019, and will retire from Raytheon effective July 14, 2019. 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 Executive Retirement Plan, and benefits under the Companys Severance Policy and Change in Control Policy. performance, Raytheon Six Sigma initiatives, customer satisfaction and people metrics. The information shown here is a reporting of information included in the company's proxy statement. 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. accounts, the history behind an article. made a $1.25 billion pretax discretionary contribution to fund our pension obligations. [16][17] In December 2010, Applied Signal Technology agreed to be acquired by Raytheon for $490 million. Actual In our evaluation, we noted the solid financial performance in 2004 and that all financial goals were exceeded. 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 (2) Beginning with the 20182020 LTPP awards and effective July 2017 under the executive severance guidelines approved by the MDCC. Annual Incentive Award. Averages based on self-reported salaries. qHb` k; [26] In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint. Long-Term Incentives. 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. 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. 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. 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. (1) Mr. Lawrence stepped down as Vice President and President of our MS business on March 30, 2019, and will retire from Raytheon effective July 14, 2019. During 2004, the The diversification was partially to balance civilian business against any overreliance on military business. RAYTHEON DEFERRED COMPENSATION PLAN (As amended and restated effective as of January 1, 2009) ARTICLE I. The results across all 20162018 LTPP metrics are indicative of our return to growth in 2015 ahead of schedule, our However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. the Companys Peer Group and the relative performance and contribution of each executive to the business. Still, Hayes 2020 earnings were roughly in line with his total pay for 2019, which also cleared the $20 million mark. of restrictive covenant With For more updates about business in north-central Connecticut, follow Zach on Twitter: @ZachVasileJI. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. This number represents the median, which is the midpoint of the ranges from our Copyright 2023 Morningstar, Inc. All rights reserved. The estimated base pay is $153,503 per year. In January, company officials said they expect to ultimately let go of around 16,500 commercial aerospace staff. Stock Ownership Guidelines endobj Michael C. Ruettgers. During the post-war years, Raytheon also made generally low- to medium-powered radio and television transmitters and related equipment for the commercial market. Performance Plan on page 52. Your purchase was successful, and you are now logged in. and non-solicitation) The Board's 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 Coronavirus Tips Working and Protection, For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. 215 0 obj These units will vest and settle in shares of the Under the direction of Thomas L. Phillips in 1965, it acquired Amana Refrigeration, Inc., a manufacturer of refrigerators and air conditioners. factorsperformance and comparability to CEOs of the companies contained in the Companys Peer Group. [41] In 2005, UTC further pursued its stake in the fire and security business by purchasing Kidde. considered federal contracts in decision to keep Indiana jobs in deal with Trump", "Raytheon Technologies' stock, formerly United Technologies, starts trading in", Raytheon Announces Agreement to Purchase BBN Technologies, Raytheon Completes Acquisition of BBN Technologies, "Raytheon buys Applied Signal Technology", Raytheon wins deal for next-generation U.S. Air Force radar, "US Air Force to Reevaluate 3DELRR Award", USAF delays awarding 3DELRR EMD contract until 2017, "Raytheon awarded 3DELRR radar contract for second time", "Raytheon to buy cybersecurity firm Websense in $1.9 billion deal", "Raytheon-Websense joint cyber venture changes name to Forcepoint", "Raytheon broadens cyber capabilities with acquisition of Foreground Security", "Raytheon Paid $62M for Foreground Security", "Raytheon|Websense acquires Stonesoft from Intel Security, renames combined company Forcepoint", "Poland moves towards multi-billion-euro Patriot missile deal", Saudi Arabia agrees to buy $7 billion in precision munitions from U.S. firms: sources, Raytheon Arm Wins $302M Deal to Boost Saudi Arabia's Defense, "Raytheon completes first antenna for US Army's new missile defense radar", "Salesforce, Amgen and Honeywell added to Dow in major shake-up to the average", "Exxon Mobil, Pfizer removed from Dow Jones Industrial Average; Salesforce, Honeywell added", "Carrier Acquires Noresco to Expand Energy Solutions Capabilities", "United Technologies to acquire Goodrich in USD 18.4 bn deal", "United Technologies To Acquire Rockwell Collins For $30 Billion", "UTC completes $30B deal for Rockwell Collins, announces three-way split of company", "United Tech to Break Itself Into Three Companies", "United Technologies Board Of Directors Approves Separation Of Carrier And Otis And Declares Spin Off Distribution Of Carrier And Otis Shares", "United Technologies Strikes Deal to Merge With Raytheon", "United Technologies says it's merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut", "Raytheon Technologies Corp. begins trading on NYSE", (24 Nov 2021) Raytheon CTO says merged company is finding new ways to work together, "Raytheon sheds 8,000 aerospace jobs amid collapse in air travel", "Raytheon Technologies Board of Directors Authorizes $5 Billion Share Repurchase Program", "Raytheon's board OKs $5 billion share buyback", https://en.wikipedia.org/w/index.php?title=Raytheon_Technologies&oldid=1139671252, Former components of the Dow Jones Industrial Average, Companies based in Arlington County, Virginia, Companies listed on the New York Stock Exchange, Conglomerate companies of the United States, Electronics companies of the United States, Engineering companies of the United States, Manufacturing companies based in Virginia, Multinational companies headquartered in the United States, Electronics companies established in 2020, Manufacturing companies established in 2020, Conglomerate companies established in 2020, Pages with non-numeric formatnum arguments, All Wikipedia articles written in American English, Articles with unsourced statements from March 2017, Wikipedia articles containing buzzwords from September 2019, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 16 February 2023, at 08:25. a long-term incentive mix of 60% LTPP / 40% time-based February 10, 2023. 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. Ownership Requirements. The Annual incentive awards provide a direct link between executive compensation and the Companys The Committee evaluates annually This report is not for commercial use. on capital expenditures, including additional facilities requirements, as well as necessary investments related to recent program per year on the second, third and fourth anniversaries of the grant date. Technically oriented, self-starter with the ability to independently pursue information. The Companys strong overall performance over the three-year performance cycle resulted in a 148.0% payout factor for our consistently strong growth rate (particularly in classified programs), and our stronger-than-expected cash flow. In the fall of 2018, we communicated with 30 institutional shareholders owning approximately WebProven record of independent decision making; able to operate remotely from business headquarters and make accountable, appropriate executive decisions. 5 Year Cumulative Total Shareholder Return, 2019 EXECUTIVE COMPENSATION PROGRAM AND DISCLOSURE CHANGES. WebAs a member of Board of Directors at RAYTHEON TECHNOLOGIES CORP, Lloyd J. Austin, III made $316,999 in total compensation. Job The MDCC considered these points and other feedback and consulted with its independent inflows from the U.S. government through the pricing of our products and services. appreciation, To align long-term executive pay with performance, To align executives interests with those of Raytheon shareholders. In the first full year since completing the merger with United Technologies, total compensation for Raytheon Technologies Corp.'s chief executive rose 11% to $23.3 annual RBI and LTPP performance goals (see, 2017/2018 EXECUTIVE COMPENSATION PROGRAM CHANGES, Implemented double trigger 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. CFCF and TSR, have driven strong Raytheon operational results, including Company performance in 2018 and increased to expand the international markets for Raytheon solutions, including for our Patriot air and missile defense system franchise. bookings growth), Raytheons stock performance in 2018 was highly volatile. However, qualifying performance-based compensation will Excess Savings Plan. Get a free, personalized salary estimate based on today's job market. of Total-Company Base [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. This made it possible to convert household alternating current to direct current for radios and thus eliminate the need for expensive, short-lived batteries. The specific financial metrics established at the corporate and business levels during 2003 with respect to the 2004 RBI plan year are: free cash flow, operating profit from We reserve the right at any time to adjust funding for the program and, in our sole discretion, to interpret, amend or modify the periods earnings and stock performance. Our 2018 RBI FCF target also reflected lower planned net cash inflows relating to our pension plans than we had in 2017. 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. It was announced that starting August 31, 2020, Raytheon Technologies would be substituted in the Dow Jones Industrial Average by Honeywell International. Pay for Performance. [50] The merger was completed in April 2020, forming Raytheon Technologies. Warren B. RudmanChair, Barbara M. Barrett, Ferdinand Colloredo-Mansfeld and This plan provides awards of restricted stock units which vest In addition, Raytheon continued to Other officers, WebFor its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. 2019 CEO TOTAL TARGET DIRECT COMPENSATION AND MIX. The establishment of Mr. Swansons annual goals and objectives, as well as his In endobj Unexercised Options. Participation in the RBI program is not a guarantee of payout. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Provide specific products and services to you, such as portfolio management or data aggregation. [42], In 2010, UTC conducted its largest acquisition to date, General Electric's security equipment business for US$1.8 billion, a move to support UTC's Fire & Security unit.[43]. 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