UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 25, 2021
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(Exact name of registrant as specified in its charter)
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Securities registered pursuant to Section 12(b) of the Act:
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 25, 2021, the Human Capital & Compensation Committee (the “Committee”) of the Board of Directors of Raytheon Technologies Corporation (the “Company”) approved the following compensation adjustments for Neil Mitchill, Executive Vice President & Chief Financial Officer of the Company, in connection with his appointment as Chief Financial Officer on April 7, 2021: (i) annual base salary increase from $675,000 to $800,000, (ii) annual incentive target increase from 70% to 110% of annual base salary, and (iii) grant of an incremental 2021 long-term incentive award with a grant date value of $1,500,000, comprised of 60% performance share units, 20% restricted stock units, and 20% stock appreciation rights.
The annual base salary and annual target bonus adjustments are effective retroactive to Mr. Mitchill’s April 7, 2021 appointment date, and the incremental 2021 long-term incentive award was granted effective April 26, 2021.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RAYTHEON TECHNOLOGIES CORPORATION | ||||||||
| (Registrant) | ||||||||
Date: April 29, 2021 | By: | /S/ FRANK R. JIMENEZ | ||||||
Frank R. Jimenez | ||||||||
Executive Vice President & General Counsel | ||||||||