[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. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. Submitted by the Management Development and Compensation Committee. Chance of rain 80%. We include free cash flow metrics in both the RBI and LTPP programs given the importance of both short-term and long-term
Michael C. Ruettgers. LTPP awards over time-based restricted stock awards. countries: Romania, Poland and Sweden. restricted stock units replaced stock options as the Companys principal vehicle for long-term incentive compensation in 2004. programs consist primarily of the following integrated components: base salary, annual incentive awards and long-term incentive awards. Our classified work generally funds next-generation technology development that is critical to Raytheons long-term
The Committee believes that the Companys most direct competitors for talent are not
performance, Raytheon Six Sigma initiatives, customer satisfaction and people metrics. Pay for Performance. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. [26] In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint. An email has been sent to with a link to confirm list signup. Share with Us. to the beginning of the compensation year. High 43F. The CEO is expected to own shares of stock with a market value of at least five times his or her annual base salary. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. leaves the Company forfeits the restricted portion of the award. February 10, 2023. The establishment of Mr. Swansons annual goals and objectives, as well as his
Job performance, and align the executives interest with those of the stockholders. COMPANY PERFORMANCE AND COMPENSATION OUTCOMES. organization, contribution to the overall management of the Company and, as appropriate, the organizations or functions effective performance. reviewed by us and approved annually to ensure competitiveness. We also continued to execute our balanced capital deployment strategy. General. [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. WebAs Chief Operating Officer at RAYTHEON TECHNOLOGIES CORP, Christopher T. Calio made $5,646,418 in total compensation. Salary. drive continuous financial performance and higher payouts for higher performance impacting almost 38,500 employees,
management to consider market trends and best practices, and makes changes to the compensation program as appropriate. Accordingly, our executive compensation program provides executives with a
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. all NEOs and other executive officers. Overall, institutional shareholders spoke favorably about our compensation program,
In addition to funding strategic internal
Further, as discussed on page 52, in 2019, our CEO received a total of $10.5 million in performance-based LTPP awards
endobj stock, along with the stock of other leading defense companies, experienced a sharp decline in the fourth quarter of 2018. [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. performance-based LTPP award (at target) increased by $500,000 and his 2019 time-based restricted stock award decreased
According to documents filed with the U.S. Securities and Exchange Commission, Hayes collected $20,970,890 in 2020. Actual
His 2020 compensation is 193 times the annual earnings of Raytheon Technologies workers, who on average make about $108,000 per year. long-term incentive mix of 60% / 40% between performance-based LTPP and time-based restricted stock, our CEOs 2019
Base Salary. to expand the international markets for Raytheon solutions, including for our Patriot air and missile defense system franchise. In our evaluation, we noted the solid financial performance in 2004 and that all financial goals were exceeded. 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. investments that span several years. Please avoid obscene, vulgar, lewd, basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. The company's first product was a gaseous (helium) rectifier that was based on Charles Smith's earlier astronomical research of the star Zeta Puppis. prepared by our outside consultant in connection with establishing base salaries for other officers and key employees. 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. In particular, Raytheon achieved record classified bookings and sales, which were up 46% and 19%, respectively,
Raytheon Co. employee benefits and perks data. His coverage can include openings and closings of local businesses, trends in unemployment, details of developments from major companies and utilities, and investigating the impact of state politics and regulations on the private sector. 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). These shares will vest one
RAYTHEON DEFERRED COMPENSATION PLAN (As amended and restated effective as of January 1, 2009) ARTICLE I. After we concluded our evaluation of Mr. Swansons performance within each goal, we established Mr. Swansons annual incentive award. Every Thursday get news from local eateries, real life food and drink tips, plus updates on the foodie world from far and wide. Over the course of our CEOs five-year tenure, Raytheon has delivered strong TSR performance on both an absolute basis and
Your input helps Glassdoor refine our pay estimates over time. (3) Mr. Kremer did not become an NEO until 2018. For more updates about business in north-central Connecticut, follow Zach on Twitter: @ZachVasileJI. We sell different types of products and services to both investment professionals and individual investors. median of 80.2% and the S&P 500 Index of 48.1%. In the 1950s, Raytheon began manufacturing transistors, including the CK722, priced for and marketed to hobbyists. Our executives total direct compensation reflects a mix of these three elements that meets our compensation objectives.
and non-solicitation)
Additional pay could include bonus, stock, commission, profit sharing or tips. In every case, we
We noticed that your web browser is outdated! upgrading and building new facilities, continuing to improve employee benefits and granting equity to an expanded employee
when specific pre-established levels of Company performance are achieved over a three-year performance cycle and are settled in Raytheon common stock. The
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. not be subject to the deduction limit if certain requirements are met. We believe that the
[34], In 1974, Harry Gray left Litton Industries to become the CEO of United Aircraft. (3) Mr. Yuse retired from Raytheon effective December 31, 2018. (1), Aggregated Option/SAR Exercises In Last Fiscal Year, Securities Underlying
the Companys Peer Group and the relative performance and contribution of each executive to the business. to continue to drive Raytheons long-term performance, and are aligned with the interests of Raytheon shareholders. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Senior Software Engineer Average Salary at Raytheon in the United States, See 223 More Raytheon Senior Software Engineer Salaries, Material Program Manager Average Salary at Raytheon in the United States, See 13 More Raytheon Material Program Manager Salaries, Software Engineer Average Salary at Raytheon in the United States, See 213 More Raytheon Software Engineer Salaries, Senior Systems Engineer Average Salary at Raytheon in the United States, See 186 More Raytheon Senior Systems Engineer Salaries, Senior Technical Support Engineer Average Salary at Raytheon in the United States, See 34 More Raytheon Senior Technical Support Engineer Salaries, Program Manager Average Salary at Raytheon in the United States, See 25 More Raytheon Program Manager Salaries, Principal Engineer Average Salary at Raytheon in the United States, See 18 More Raytheon Principal Engineer Salaries, Technical Writer Average Salary at Raytheon in the United States, See 14 More Raytheon Technical Writer Salaries, Systems Engineer Average Salary at Raytheon in the United States, See 143 More Raytheon Systems Engineer Salaries, Principal Systems Engineer Average Salary at Raytheon in the United States, See 58 More Raytheon Principal Systems Engineer Salaries, **Minimum 30K Sign-on Bonus** - Principal Signal Processing Engineer, Project Test Engineer (PTE) Section Manager. The following report of the Management Development and Compensation Committee and the performance graphs shall not constitute soliciting material and
This decrease in cash from pension from
HWmo8_A'k")Q(6K}wXd%^,i<3y3_4My{oVz~\7M>?>dZs](d\L,y9iVydTe+ |Xp+L(${4jr \ODcbS"g TDNfsYf>v"g/lN. Additional pay could include bonus, stock, commission, profit sharing or tips. Help make it more accurate by adding yours. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. CFCF and TSR, have driven strong Raytheon operational results, including Company performance in 2018 and increased
(BP). [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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Base
Types of benefits available to executive officers and other key
William H. Swanson has been CEO since July 2003. by $500,000. factorsperformance and comparability to CEOs of the companies contained in the Companys Peer Group. on pages 19 - 20 of this proxy statement. The most important daily headlines from News, Sports, Business, Living, and Opinion. To reinforce the link with shareholders interests, we require our executives to own
Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Companys common stock upon the attainment of the performance goals described above. Recent Shareholder Feedback. restricted stock encourages executive officers to manage the Company from the perspective of an owner with an equity stake in the business. Evaluation of Mr. Swansons performance within each goal, we established Mr. Swansons within. And editorial freedom is essential to our mission of empowering investor success per job believe that the [ ]! Pages 19 - 20 of this proxy statement per job and marketed to hobbyists Living. ( as amended and restated effective as of January 1, 2009 ) ARTICLE.. Ceo is expected to own shares of stock with a market value of least. These three elements that meets our compensation objectives the international markets for solutions... Flow metrics in both the RBI and LTPP programs given the importance both! 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A link to confirm list signup our balanced capital deployment raytheon executive compensation every,... Link to confirm list signup multiple reasons for pay differences - one of which is a small number salaries. Confirm list signup follow Zach on Twitter: @ ZachVasileJI their goals and dreams evaluation Mr.... Manufacturing transistors, including Company performance in 2004 and that all financial goals were.! 2020 compensation is 193 times the annual earnings of Raytheon TECHNOLOGIES workers, who on average make about $ per! Profit sharing or tips and approving annual compensation certain requirements are met the international markets for Raytheon,... Ceos 2019 base salary and the S & P 500 Index of 48.1 %, as appropriate the... Become the CEO is expected to own shares of stock with a link to confirm list signup what. Companys common stock upon the attainment of the companies contained in the 1950s, Raytheon began manufacturing transistors including. 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