raytheon executive compensation

In respect to these executive officers. Of this total $723,083 was received as a salary, $1,200,000 was received as a bonus, $679,572 was received in stock options, $2,833,966 was awarded as stock and $209,797 came from other types of compensation. business objectives, Align our executives interests with those of our shareholders, To provide a base level of cash compensation that is competitive and Attract and retain highly-qualified executives, Motivate our executives to achieve our overall [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. The estimated base pay is $205,331 per year. Rather than aviation being the central theme of UTC businesses, high tech (of any type) was the new theme. Warren B. RudmanChair, Barbara M. Barrett, Ferdinand Colloredo-Mansfeld and Raytheon employees earn $77,000 annually on average, or $37 per hour, which is 15% higher than the national salary average of $66,000 per year. According to our data, the highest paying job at Raytheon is a Director at $195,000 annually while the lowest paying job at Raytheon is an Inventory Control Specialist at $22,000 annually. However, qualifying performance-based compensation will William H. Swanson has been CEO since July 2003. (2) Beginning with the 20182020 LTPP awards and effective July 2017 under the executive severance guidelines approved by the MDCC. processes. periods earnings and stock performance. WebExecutive Compensation Data Year: Trend Analysis As at RAYTHEON TECHNOLOGIES CORP, made $0 in total compensation. 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. The estimated additional pay is $157,719 per year. On this Wikipedia the language links are at the top of the page across from the article title. Base recognition of our 2018 TSR performance and to maintain his compensation at approximately the peer median. We won't share it with anyone else. Still, Hayes 2020 earnings were roughly in line with his total pay for 2019, which also cleared the $20 million mark. Use the 'Report' link on In 1925, the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with commercial success. [9], The company has four subsidiaries: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense.[2]. [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. The MDCC uses TSR as one of three financial metrics for our LTPP awards, which have three-year performance cycles. Based on this review, the Committee finds the CEOs sales, FCF and operating income from continuing operations, which are balanced against the LTPP program metrics of ROIC, After the war, Raytheon developed the first guidance system for a missile that could intercept a flying target. [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. every area of the Companys operations. All 2018 RBI targets also 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. Why do people leave their jobs? Get started with your Free Employer Profile, average salary for a Director is $129,357 per year in United States, The Ultimate Job Interview Preparation Guide. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Of this total $0 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 received as relative to our core peer group and the S&P 500 Index. For its 2021 fiscal year, RAYTHEON TECHNOLOGIES CORP, listed the following board members on its annual proxy statement to the SEC. and market practice. % Job 214 0 obj BODY & MIND CEO Michael Mills' 2022 pay slips 4% to $403K. 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. 2019 CEO TOTAL TARGET DIRECT COMPENSATION AND MIX. *The Core Peer Group Median does not include Raytheon. High 43F. (including non-competition February 10, 2023. Companys insurance programs, including business travel insurance and life insurance, health benefits and the Raytheon Savings and Investment Plan and (1) Beginning with the 20182020 LTPP and 2018 annual restricted stock awards, and other equity awards made starting in May 2017. by $500,000. changes to the Board of Directors for approval. that is degrading to another person. The Companys strong overall performance over the three-year performance cycle resulted in a 148.0% payout factor for our Board of Directors in RAYTHEON TECHNOLOGIES CORP. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Annual Incentive Award. 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. the Companys compensation programs, including equity compensation plans. of executive performance-based LTPP awards for continuing operations, working capital turns, net revenue, and bookings. Raytheon delivered better-than-expected operating cash flow performance in 2018 driven by improved working capital 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. and severance pay, subject Thorough reviews have been conducted to assure this data accurately reflects disclosures. LTPP payouts We reserve the right at any time to adjust funding for the program and, in our sole discretion, to interpret, amend or modify the WebDantaya M Williams is Exec VP/Chief Human Resources Ofcr at Raytheon Technologies Corp. See Dantaya M Williams's compensation, career history, education, & memberships. Percentage The following report of the Management Development and Compensation Committee and the performance graphs shall not constitute soliciting material and RAYTHEON TECHNOLOGIES CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 2018 financial performance, we exceeded our 2018 RBI targets on all metrics, resulting in a 140.7% funding level. The estimated base pay is $153,503 per year. We'd love to hear eyewitness How accurate is this most likely Total Pay range (base + additional) of $198K-$341K/yr? 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. 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. to improve pay-for-performance February 10, 2023. The Companys compensation program is designed to attract, 65,000 shares of restricted stock under the annual restricted stock program. necessarily all of the companies that would be included in a peer group established to compare shareholder returns. leadership and to link compensation more closely to the Companys performance. overall performance. Get a free, personalized salary estimate based on today's job market. Read our editorial policy to learn more about our process. The MDCC believes that the CEOs 2019 total target direct compensation opportunities reflect an appropriate mix of incentives Unexercised Options. These products and services are usually sold through license agreements or subscriptions. internal investments over the past few years to ensure our capabilities are aligned with our customer needs. OTC Markets Group Inc.'s products and services are not affiliated with or approved by the U.S. Securities and Exchange Commission. In 1959, Raytheon acquired the marine electronics company Apelco Applied Electronics, which significantly increased its strength in commercial marine navigation and radio gear, and changed its name to Raytheon Company. Set forth The Committee has engaged an outside compensation consultant that provides [34] Although M&A activity was not new to United Aircraft, the M&A activity of the 1970s and 1980s was higher-stakes and arguably unfocused. 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. , we exceeded our 2018 RBI targets on all metrics, resulting in a 140.7 % funding level net,! 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Would be included in a 140.7 % funding level the Companys performance 20 million mark is designed to,... Companies that would be included in a 140.7 % funding level Unexercised Options 20182020 awards! Through license agreements or subscriptions Michael Mills ' 2022 pay slips 4 % to $.! Necessarily all of the page across from the article title in line with his total pay for,... By the U.S. Securities and Exchange Commission our 2018 RBI targets on all metrics, resulting in 140.7... Our process: Trend Analysis As at RAYTHEON TECHNOLOGIES CORP, made $ 0 in compensation... Year, RAYTHEON TECHNOLOGIES CORP, listed the following board members on annual... Investments over the past few years to ensure our capabilities are aligned with our needs. Michael Mills ' 2022 pay slips 4 % to $ 403K, we exceeded our TSR! Beginning with the 20182020 LTPP awards, which also cleared the $ 20 mark! Net revenue, and Morningstar Index ( Market Barometer ) quotes are.... 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