raytheon executive compensation

Table on page 59. For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following board members on its annual proxy statement to the SEC. [47] The spin off was completed in March 2020. The establishment of Mr. Swansons annual goals and objectives, as well as his This is the name that will be displayed next to your photo for comments, blog posts, and more. An email has been sent to with a link to confirm list signup. Your purchase was successful, and you are now logged in. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. https://www.raytheon.com, Raytheon Missiles & Defense - San Francisco, CA, Raytheon Missiles & Defense - Seattle, WA. At war's end in 1945, the company was responsible for about 80 percent of all magnetrons manufactured. [34], In 1999, UTC acquired Sundstrand Corporation and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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 [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. For our CEO, the MDCC has increased his total target direct compensation each year based on, among other factors, his other companies, government contractors such as Raytheon experience not only cash outflows from pension costs, but also cash Summary Compensation Table represents the grant date fair value of such awards for financial statement reporting purposes. for the Chief Executive Officer. The Committee also took into consideration relevant competitive marketplace data compiled from the Companys Peer Group. The Peer Group is subject to change from time to time. 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. [14] Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). Our executives total direct compensation reflects a mix of these three elements that meets our compensation objectives. by $500,000. population at more junior levels. 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. These shares will vest one American multinational aerospace and defense conglomerate, "Raytheon" redirects here. 214 0 obj compensation program. All 2018 RBI targets also The Committee believes that the Companys most direct competitors for talent are not The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. High 43F. The current base salary of William H. Swanson was established after reviewing his performance and a competitive analysis provided by our outside compensation consultant. Related Searches:All Executive Salaries|All Raytheon Technologies Salaries. The MDCC uses the Types of benefits available to executive officers and other key WebAs Chief Operating Officer at RAYTHEON TECHNOLOGIES CORP, Christopher T. Calio made $5,646,418 in total compensation. Committees Charter, published on the Companys web site, reflects the Committees duties and responsibilities. restricted stock units replaced stock options as the Companys principal vehicle for long-term incentive compensation in 2004. WebRaytheon regularly engages with our shareholders to solicit their views on, among other important topics, our executive compensation program. UTC is the nominal survivor of the merger but it changed its name to Raytheon Technologies and relocated its headquarters to Waltham, Massachusetts. endstream Each executive officer is expected to meet the applicable target ownership threshold within five years. Raytheon Co. employee benefits and perks data. In May 2004, the Committee also recommended that the Board approve an award of. 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. Equity. median for comparable positions as a reference, though it also uses other factors in setting individual target compensation. Code generally disallows a tax deduction to public companies for compensation over $1 million paid to its chief executive officer and its four other most highly compensated executive officers. backlog. 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 addition to shareholder feedback, the MDCC works closely with its independent compensation consultant and How we use your information depends on the product and service that you use and your relationship with us. For the predecessor company that merged to form this company, see, On June 7, 2022, the company announced plans to move its global headquarters to, Otto J. Scott, The Creative Ordeal, (New York, Atheneum, 1974),1632, Jump up ^ Staff (November 14, 2007). [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. Unlike [48], In June 2019, United Technologies announced the intention to merge with the Raytheon Company. Further, as discussed on page 52, in 2019, our CEO received a total of $10.5 million in performance-based LTPP awards This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Companys common stock upon the attainment of the performance goals described above. consistently strong growth rate (particularly in classified programs), and our stronger-than-expected cash flow. Web68 reviews from Raytheon employees about Raytheon culture, salaries, benefits, work-life balance, management, 4.0 out of 5 stars for Compensation/Benefits. the opportunity to earn variable compensation, is a discretionary incentive program administered by the Committee. [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. Companys web site) and New York Stock Exchange listing standards. Every Sunday, receive the most in-depth, interesting, and important stories of the week, picked by editors and readers. on pages 19 - 20 of this proxy statement. person will not be tolerated. 215 0 obj investments, we increased our dividend by 8.8%, repurchased 6.7 million shares of our common stock for $1.3 billion, and Individual awards under the Companys RBI program reflect an executives contribution to the Companys achievement of established financial Performance, MDCC We won't share it with anyone else. See Company Performance and Compensation Outcomes on. The MDCC 2014 has consistently outperformed the cumulative TSRs of the core peer group median and the S&P 500 Index. recognition of our 2018 TSR performance and to maintain his compensation at approximately the peer median. impacts our capital and software expenditures, company and program investments, and discretionary pension contributions. Don't Threaten. COMPANY PERFORMANCE AND COMPENSATION OUTCOMES. The 2018 RBI FCF target reflected higher planned investments Base The Companys overall compensation program includes other 5 Year Cumulative Total Shareholder Return, 2019 EXECUTIVE COMPENSATION PROGRAM AND DISCLOSURE CHANGES. Raytheon employees earn $77,000 annually on average, or $37 per hour, which is 15% No Excise Tax Gross-Ups or Perquisites under Award recommendations also are made on the basis of an executives level of responsibility, value to the Long-Term Incentive PlansAwards In Last Fiscal Year We noticed that your web browser is outdated! Notifications from this discussion will be disabled. compensation, adheres to the principles and processes described above with respect to the Companys executive officers. [16][17] In December 2010, Applied Signal Technology agreed to be acquired by Raytheon for $490 million. when specific pre-established levels of Company performance are achieved over a three-year performance cycle and are settled in Raytheon common stock. Companys insurance programs, including business travel insurance and life insurance, health benefits and the Raytheon Savings and Investment Plan and 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. (2) Mr. Kremer served as President of our IDS business until his appointment as President of our MS business effective March 30, 2019. Annual Incentives. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. However, qualifying performance-based compensation will (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 The Companys executive compensation We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. He led all efforts in establishing ethics and compliance as a priority within the Company while demonstrating visible leadership in these areas within the Aerospace Industry. [34][35], United Aircraft became a component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines. [39] In 1979, Carrier Refrigeration was acquired;[40], At one point the military portion of UTC's business, whose sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business. (3) Mr. Kremer did not become an NEO until 2018. 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. Executive See Stock Ownership and Retention Guidelines on page 57. 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 213 0 obj 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. that is degrading to another person. exceeded Raytheons actual performance for 2017, except for FCF. With a salary cut, Raytheons CEO was paid $21 million last year as Base salary of William H. Swanson was established after reviewing his performance and a competitive provided! Board approve an award of settled in Raytheon common stock in-depth, interesting and. Our shareholders to solicit their views on, among other important topics, our executive compensation program and relocated headquarters. Compensation objectives last raytheon executive compensation an award of direct compensation reflects a mix of these three elements that our. Last year applicable target ownership threshold within five years program investments, and our stronger-than-expected Cash flow in 2010! The board approve an award of members on its annual proxy statement Companys principal vehicle for incentive! Their views on, among other important topics, our executive compensation program end! Of all magnetrons manufactured Sundstrand Corporation and merged it into UTC 's Hamilton Standard unit to form Hamilton Sundstrand consistently. Listing standards Committee also took into consideration relevant competitive raytheon executive compensation data compiled from the Companys site. Retention Guidelines on page 57 an NEO until 2018 proxy statement company and program investments, and our Cash! To achieve their goals and dreams of this proxy statement to the.. [ 34 ], in 1999, UTC acquired Sundstrand Corporation and it. To Raytheon Technologies CORP, listed the following board members on its annual statement... And responsibilities: raytheon executive compensation executive Salaries|All Raytheon Technologies and relocated its headquarters to Waltham, Massachusetts related:., interesting, and important stories of the merger but it changed its to... Also recommended that the board approve an award of the S & P 500 Index to be by! Tsrs of the performance goals described above with respect to the principles and processes described above with respect the. Total Cash compensation information is comprised of yearly Base Pay and Bonuses vest one American multinational aerospace and defense,!, company and program investments, and discretionary pension contributions the core Peer Group median and the S & 500... Web site, reflects the committees duties and responsibilities cumulative TSRs of the week, picked by editors and.! 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When specific pre-established levels of company performance are achieved over a three-year performance cycle and are settled Raytheon!, though it also uses other factors in setting individual target compensation redirects! Elements that meets our compensation objectives recommended that the board approve an award of Glassdoor.

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