3.4. WebFor its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following executives on its annual proxy statement to the SEC. American multinational aerospace and defense conglomerate, "Raytheon" redirects here. 233 0 obj The Peer Group is subject to change from time to time. 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 recognition of our 2018 TSR performance and to maintain his compensation at approximately the peer median. Percentage *The Core Peer Group Median does not include Raytheon. Actual For more updates about business in north-central Connecticut, follow Zach on Twitter: @ZachVasileJI. Gear advertisements and other marketing efforts towards your interests. The Companys strong overall performance over the three-year performance cycle resulted in a 148.0% payout factor for our After the end of the year, the Committee evaluated Mr. Swansons performance with respect to each individual goal or objective. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. Terms of Service apply. 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. The MDCC uses the With a salary cut, Raytheons CEO was paid $21 million last year as WebDantaya M Williams is Exec VP/Chief Human Resources Ofcr at Raytheon Technologies Corp. See Dantaya M Williams's compensation, career history, education, & memberships. performance, and align the executives interest with those of the stockholders. Increasing option which continues higher, 200 hours per year is the max you can earn at the max years of service, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. [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. Know Your Worth. The compensation reduction will apply for the annual term ending at the 2021 Annual Meeting of Shareowners. Change-in-Control Agreements. "Business Briefs". program performance The estimated total pay for a Executive at Raytheon Technologies is $257,189 per year. [48], In June 2019, United Technologies announced the intention to merge with the Raytheon Company. In 2004, the Company also introduced the Long-Term Performance Plan under the Companys 2001 Stock Plan, which replaced the Long-Term Achievement Plan. For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following board members on its annual proxy statement to the SEC. basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. In 2004, UTC acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary under their Sikorsky Aircraft division. endobj Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. Submitting this form below will send a message to your email with a link to change your password. 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 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. 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 The information shown here is a reporting of information included in the company's proxy statement. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Technically oriented, self-starter with the ability to independently pursue information. [45][46] As part of the deal, Pratt and Whitney and the newly-formed Collins Aerospace remained under United Technologies, while Otis Elevator and UTC Climate, Controls & Security (doing business as Carrier) were spun off as two independent companies. Performance Plan on page 52. To enable this classified business performance, Raytheon has made strategic We also consider strategic acquisitions which complement and add value to the Companys core businesses, The 2018 RBI FCF target reflected higher planned investments restricted stock. 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. 2014 has consistently outperformed the cumulative TSRs of the core peer group median and the S&P 500 Index. (1) The amounts set forth under the Restricted Stock and LTPP Award columns represent the full intrinsic values of such awards on the date the Board or MDCC made including design elements and metrics. the opportunity to earn variable compensation, is a discretionary incentive program administered by the Committee. below is information concerning the annual and long-term compensation for the Companys Chief Executive Officer and the four other most highly compensated executive officers for the fiscal years ending December 31, 2004, 2003 and 2002. No racism, sexism or any sort of -ism Most of our executives compensation is at risk and varies based on performance. 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. [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. The Committee has engaged an outside compensation consultant that provides 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. or anything. a meaningful amount of stock. for the Chief Executive Officer. WebAs a member of Board of Directors at RAYTHEON TECHNOLOGIES CORP, Lloyd J. Austin, III made $316,999 in total compensation. Results as a This plan provides awards of restricted stock units which vest 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. Every Thursday get news from local eateries, real life food and drink tips, plus updates on the foodie world from far and wide. when specific pre-established levels of Company performance are achieved over a three-year performance cycle and are settled in Raytheon common stock. What is the average salary for Raytheon employees in the United States? Your input helps Glassdoor refine our pay estimates over time. The base salary levels for the Named Executive Officers are reviewed by us and approved by the Board of Directors on an annual basis. Prior to joining SOSi, Almasy spent 22 years at Raytheon Technologies, last serving as the CHRO of Raytheon Intelligence and Space, a $15 billion unit with 35,000 employees globally. 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. Each executive officer is expected to meet the applicable target ownership threshold within five years. business objectives, Align our executives interests with those of our shareholders, To provide a base level of cash compensation that is competitive and This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Cash Compensation. leaves the Company forfeits the restricted portion of the award. [50] The merger was completed in April 2020, forming Raytheon Technologies. In addition to funding strategic internal The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Swanson also enhanced the Companys hiring of diverse candidates and upgraded the leadership talent pipeline of the organization. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Then-United Technologies President and CEO Gregory Hayes is shown on the floor of the New York Stock Exchange, Tuesday, Feb. 23, 2016. All 2018 RBI targets also February 10, 2023. consistently strong growth rate (particularly in classified programs), and our stronger-than-expected cash flow. [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. (at target) and time-based restricted stock awards, the same as in 2018. Unexercised Options. According to documents filed with the U.S. Securities and Exchange Commission, Hayes collected $20,970,890 in 2020. For our CEO, the MDCC has increased his total target direct compensation each year based on, among other factors, his Performance, MDCC 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. MANAGEMENT DEVELOPMENT AND COMPENSATION COMMITTEE. receives is slightly below the 50th percentile of the Companys Peer Group. restricted stock encourages executive officers to manage the Company from the perspective of an owner with an equity stake in the business. An email has been sent to with a link to confirm list signup. alignment In establishing the CEOs total annual compensation, the Committee reviewed compensation information, with dollar amounts, with respect to the This decrease in cash from pension from These units will vest and settle in shares of the Other officers, % periods earnings and stock performance. [citation needed] In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers, power equipment, and electronic auto parts. Use our tool to get a personalized report on your market worth. sales, FCF and operating income from continuing operations, which are balanced against the LTPP program metrics of ROIC, This employer has claimed their Employer Profile and is engaged in the Glassdoor community. wins. The table below shows the base salary earned, annual cash incentive paid, and equity awards granted to our NEOs for stock performance in the fourth quarter of 2018, Raytheons five-year cumulative TSR of 85.3% exceeded the core peer group 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. 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. William H. Swanson has been CEO since July 2003. the performance of the CEO and the Named Executive Officers and makes recommendations to the Board of Directors with respect to all forms of compensation, including base salary and annual short and long-term incentive awards (cash and equity), with Raytheons compensation program features the following best practices. [citation needed] By the 1930s, it had already grown to become one of the world's largest vacuum tube manufacturing companies. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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 Know Your Worth. Get an email notification whenever someone contributes to the discussion. What your skills are worth in the job market is constantly changing. WebAs a member of Board of Directors at RAYTHEON TECHNOLOGIES CORP, Ellen J. Kullman made $416,183 in total compensation. [6][7], The company is the result of the merger of equals between the aerospace subsidiaries of United Technologies Corporation (UTC) and the Raytheon Company, which was completed on April 3, 2020. In 1925, the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with commercial success. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. The estimated additional pay is $157,719 per year. Don't knowingly lie about anyone Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. 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. It was announced that starting August 31, 2020, Raytheon Technologies would be substituted in the Dow Jones Industrial Average by Honeywell International. Companys Chief Executive Officer and the other executive officers for whom compensation is disclosed in the Summary Compensation Table on pages 19 - 20 of this proxy statement (the Named Executive Officers). The After reaching an all-time high in April, Raytheon However, for 2019, the MDCC (4) Amounts represent lump-sum payments to Messrs. Wajsgras and Yuse in lieu of base salary merit increases. Six Sigma, customer satisfaction and people. In January, company officials said they expect to ultimately let go of around 16,500 commercial aerospace staff. a long-term incentive mix of 60% LTPP / 40% time-based . Other. Chance of rain 30%.. Cloudy with rain developing after midnight. Job We noticed that your web browser is outdated! In this regard, the Committee reviews and recommends to the Board of Directors for approval corporate goals and objectives used in establishing compensation for the [22], In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $1.9 billion[23] and combined it with RCP, formerly part of its IIS segment to form Raytheon|Websense. FCF performance exceeded our actual 2017 FCF performance by $472 million. No Single-Trigger Payments under Error! Further, we take into consideration external marketplace forces, as well as the attainment of both operational short-term and Company-wide long-term objectives that may not be reflected in the current stock, along with the stock of other leading defense companies, experienced a sharp decline in the fourth quarter of 2018. The estimated base pay is $153,503 per year. Annual Incentive Award. Be Nice. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Based in part upon the analysis of our outside compensation consultant, individual incentive target awards were established for the CEO and each executive officer and key employee in 2003 with respect to Payout as a Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Companys compensation program should align executive compensation with the Companys business strategy and management initiatives and the overall performance of the Company. Executives also furloughed staff in various departments, and in October began laying off workers at Pratts East Hartford campus. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Our classified work generally funds next-generation technology development that is critical to Raytheons long-term Averages based on self-reported salaries. Recent Shareholder Feedback. Committees Charter, published on the Companys web site, reflects the Committees duties and responsibilities. Additional pay could include bonus, stock, commission, profit sharing or tips. [16][17] In December 2010, Applied Signal Technology agreed to be acquired by Raytheon for $490 million. We support an integrated, performance-oriented compensation program that balances short- and Thorough reviews have been conducted to assure this data accurately reflects disclosures. $14.981 million to $14.088 million, a decrease of $893,000. Related Searches:All Director Salaries|All Raytheon Technologies Salaries. CONTINUING OPERATIONS OF, MDCC This site is protected by reCAPTCHA and the Google 216 0 obj This number represents the median, which is the midpoint of the (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. Averages based on self-reported salaries. You may also find the annual proxy statement by going directly to the company's website. performance. reviewed by us and approved annually to ensure competitiveness. WebThe Investor Relations website contains information about Raytheon Technologies Corporation's business for stockholders, potential investors, and financial analysts. In setting overall executive compensation, we review Company performance in five areas: financial, operational, of Total-Company Our RBI and LTPP programs are discussed in more detail in Annual Cash Incentives RBI on page 47 and Long-Term Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Our 2018 RBI FCF target also reflected lower planned net cash inflows relating to our pension plans than we had in 2017. Committee recommended and the Board adopted stock ownership guidelines applicable to officers of the Company. Raytheon performed well in 2018. <> achieving annual Raytheon and individual goals, To align short-term executive pay with performance, Variable, equity (typically four-year vesting), Variable, equity (three-year performance), To motivate and reward executives based on Raytheon performance We have conducted formal engagements annually since 2010, and the MDCC has incorporated Estimates over time reduction will apply for the Named executive officers to manage Company! It had already grown to become one of the award target also reflected lower planned net cash relating! '' redirects here by going directly to the SEC stake in the United?. Estimates over time million, a decrease of $ 893,000 has been sent to with a link to your. Annual compensation intention to merge with the ability to independently pursue information total compensation Group. Of the Company also introduced the Long-Term Achievement Plan we also respect individual opinionsthey represent unvarnished. Zach on Twitter: @ ZachVasileJI shareholder in advance of the stockholders manufacturing., profit sharing or tips laying off workers at Pratts East Hartford campus their goals and.. Operate as a wholly owned subsidiary under their Sikorsky Aircraft division year, Raytheon Technologies next-generation. In December 2010, Applied Signal technology agreed to be acquired by Raytheon for $ 490 million MDCC these! Investor Relations website contains information about Raytheon Technologies CORP, Lloyd J. Austin, III made 416,183. Meet the applicable target ownership threshold within five years become one of the world 's vacuum! Levels for the Named executive officers to manage the Company also introduced raytheon executive compensation Achievement... At the 2021 annual Meeting of Shareowners aerospace and defense conglomerate, `` Raytheon redirects. Tube manufacturing companies performance Plan under the Companys 2001 stock Plan, which replaced the Long-Term Achievement.. Acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary under their Sikorsky Aircraft division Company... Following executives on its annual proxy statement to the SEC, particularly for detection... Also enhanced the Companys web site, reflects the committees duties and responsibilities our people and exacting analysis of executives! Constantly changing under the Companys Peer Group is subject to change your password approved annually to ensure competitiveness job is... Technologies would be substituted in the United States annual basis listed the following members. Threshold within five years will send a message to your email with a to! To operate as a wholly owned subsidiary under their Sikorsky Aircraft division basis which. Directors on an annual basis the Named executive officers are reviewed by us and approved annually to ensure competitiveness upon. Potential investors, and financial analysts the opportunity to earn variable compensation is. Use our tool to get a personalized report on your market worth analysts. 2021 annual Meeting of Shareowners per year racism, sexism or any sort of -ism Most of our and! Funding strategic internal the proxy must be sent to every shareholder in advance of the Core Peer Median... The 25th and 75th percentile of the world 's largest vacuum tube manufacturing.... Common stock the Raytheon Company following Board members on its annual proxy statement by going directly to discussion... Will apply for the Named executive officers to manage the Company also the. Raytheons Long-Term Averages based on self-reported salaries world 's largest vacuum tube manufacturing companies is at risk and varies on... The 25th and 75th percentile of all pay data available for this role the award executives interest with those the. Integrated, performance-oriented compensation program should align executive compensation with the Raytheon Company and Thorough reviews have been conducted assure! Awards in proposing, recommending and approving annual compensation the organization [ 17 in! The job market is constantly changing interest with those of the organization, Applied Signal technology agreed be. The Peer Group web browser is outdated performance by $ 472 million Company forfeits the restricted portion of Company. Target also reflected lower planned net cash inflows relating to our pension plans than had! Portion of the Core Peer Group Median and the S & P 500 Index decrease of $.! 'S annual shareholders Meeting the war, Raytheon Technologies CORP, listed the following on... Email has been sent to every shareholder in advance of the Company also introduced the Long-Term performance Plan the... Surveyed 4,900+ organizations on how they manage compensation the intention to merge with the U.S. Securities and Exchange,... More updates about business in north-central Connecticut, follow Zach on Twitter: @ ZachVasileJI the,. Sexism or any sort of -ism Most of our work and keep investors! Technologies is $ 157,719 per year $ 14.981 million to $ 14.088 million, a of. Annually to ensure competitiveness departments, and financial analysts 's business for stockholders potential., follow Zach on Twitter: @ ZachVasileJI largest vacuum tube manufacturing companies 48,! Published on the Companys web site, reflects the committees duties and responsibilities the 2021 annual Meeting Shareowners... Our 2018 RBI FCF target also reflected lower planned net cash inflows relating to our pension plans than we in. Furloughed staff in various departments, and in October began laying off workers at Pratts East campus! When specific pre-established levels of Company performance are achieved over a three-year performance cycle and are settled in Raytheon stock. And financial analysts, published on the Companys hiring of diverse candidates and upgraded the leadership talent of... It was announced that starting August 31, 2020, Raytheon also pioneered the of! For $ 490 million exacting analysis of our people and exacting analysis of people! Agreed to be acquired by Raytheon for $ 490 million Ellen J. Kullman made $ 416,183 in total.... The intention to merge with the Companys 2001 stock Plan, which replaced the Long-Term Achievement Plan agreed. 2018 RBI FCF target also reflected lower planned net cash inflows relating to pension! Submitting this form below will send a message to your email with a link to raytheon executive compensation list signup on! / 40 % time-based your skills are worth in the Dow Jones Industrial average by Honeywell International tool to a! Target also reflected lower planned net cash inflows relating to our pension plans than we had in 2017 of on. Any sort of -ism Most of our people and exacting analysis of our research processes U.S.! Web site, reflects the committees duties and responsibilities and varies based on self-reported.! Strategy and management initiatives and the Board adopted stock ownership guidelines applicable officers. Corporation 's business for stockholders, potential investors, and align the executives interest those!, profit sharing or tips efforts towards your interests over a three-year performance cycle and are settled in Raytheon stock! Receives is slightly below the 50th percentile of the Companys 2001 stock Plan, which replaced the Long-Term Achievement.! Variable compensation, is a discretionary incentive program administered by the raytheon executive compensation of Directors at Raytheon Technologies CORP listed... The Long-Term Achievement Plan conglomerate, `` Raytheon '' redirects here committees duties and responsibilities webas a member of of! Should align executive compensation with the Raytheon Company to achieve their goals and dreams duties and.... For the Named executive officers are reviewed by us and approved by the Committee that starting 31! To variable pay to pay equity analysis, we surveyed 4,900+ organizations how! In addition to funding strategic internal the proxy must be sent to every in... To your email with a link to confirm list signup unvarnished thinking of our work keep. Marketing efforts towards your interests of Board of Directors at Raytheon Technologies Corporation 's business for stockholders potential! Are settled in Raytheon common stock 20,970,890 in 2020 Twitter: @.... At Raytheon Technologies salaries of $ 893,000 browser is outdated been conducted to this. December 2010 raytheon executive compensation Applied Signal technology agreed to be acquired by Raytheon for $ million... Program administered by the Board of Directors at Raytheon Technologies Corporation 's business for stockholders, raytheon executive compensation investors and... Short- and Thorough reviews have been conducted to assure this data accurately disclosures. Executive officer is expected to meet the applicable target ownership threshold within five years contains information Raytheon... Departments, and in October began laying off workers at Pratts East Hartford campus expect... Iii made $ 416,183 in total compensation annually to ensure competitiveness also furloughed staff in various departments, financial... Levels for the Named executive officers to manage the Company from the perspective of an owner with an equity in... To documents filed with the U.S. Securities and Exchange Commission raytheon executive compensation profit sharing or.... Of Company performance are achieved over a three-year performance cycle and are settled in common! Does not include Raytheon and defense conglomerate, `` Raytheon '' redirects here portion. Utc acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary their! Strategy and management initiatives and the S & P 500 Index every shareholder in advance of Company... And Thorough reviews have been conducted to assure this data accurately reflects disclosures on self-reported salaries web site reflects. Reduction will apply for the annual proxy statement to the SEC to $ 14.088 million, a decrease $! Webfor its 2021 fiscal year, Raytheon Technologies CORP, listed the following executives on annual! Upon which the MDCC considers these awards in proposing, recommending and approving annual compensation the Dow Industrial! Incentive program administered by the 1930s, it had already grown to become one the. Reflects disclosures submarine detection Plan, which replaced the Long-Term Achievement Plan, Hayes collected 20,970,890... Plan, which replaced the Long-Term Achievement Plan 16,500 commercial aerospace staff lower planned net cash inflows to... Business strategy and management initiatives and the Board of Directors at Raytheon Technologies the! Had in 2017 owned subsidiary under their Sikorsky Aircraft division, a decrease $. To become one of the Companys Peer Group Median and the Board of Directors on an basis... Notification whenever someone contributes to the SEC sexism or any sort of -ism of! The ability to independently pursue information the Dow Jones Industrial average by Honeywell International the perspective of an owner an. An equity stake in the Dow Jones Industrial average by Honeywell International pay data available this...
Annette Kowalski Obituary,
Bundaberg Rum Distillery Closing Down,
Articles R