42 TEXTRON 2022 PROXY STATEMENT OUTSTANDING EQUITY AWARDS AT 2021 FISCAL YEAR-END The following table sets forth information with respect to the NEOs concerning unexercised options, stock awards that have not yet vested, and other equity incentive plan awards that have not yet vested as of the end of our 2021 fiscal year. Outstanding Equity Awards at 2021 Fiscal Year-End Option Awards Stock Awards Name Grant Date(1) Number of Securities Underlying Unexercised Options(#) Exercisable Number of Securities Underlying Unexercised Options(#) Unexercisable Option Exercise Price ($)(2) Option Expiration Date Type of Stock Award(3) Grant Year Number of Shares or Units of Stock That Have Not Vested (#) Market Value of Shares or Units of Stock That Have Not Vested ($)(4) Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested (#) Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested ($)(5) Scott C. Donnelly 3/1/2021 0 200,108 51.56 3/1/2031 PSU 2021 113,722 8,779,338 3/1/2020 77,971 155,942 40.60 3/1/2030 RSU 2021 56,861 4,389,669 3/1/2019 161,613 80,806 54.43 3/1/2029 PSU 2020 122,195 9,433,454 3/1/2018 193,820 0 58.24 3/1/2028 RSU 2020 61,097 4,716,688 3/1/2017 219,619 0 49.58 3/1/2027 RSU 2019 70,488 5,441,674 3/1/2016 238,578 0 34.50 3/1/2026 RSU 2018 35,432 2,735,350 3/1/2015 194,546 0 44.31 3/1/2025 RSU 2017 20,116 1,552,955 3/1/2014 222,319 0 39.70 3/1/2024 3/1/2013 243,157 0 28.47 3/1/2023 Frank T. Connor 3/1/2021 0 59,005 51.56 3/1/2031 PSU 2021 33,532 2,588,670 3/1/2020 22,991 45,981 40.60 3/1/2030 RSU 2021 16,766 1,294,335 3/1/2019 47,654 23,826 54.43 3/1/2029 PSU 2020 36,031 2,781,593 3/1/2018 56,179 0 58.24 3/1/2028 RSU 2020 18,015 1,390,758 3/1/2017 62,591 0 49.58 3/1/2027 RSU 2019 20,784 1,604,525 3/1/2016 68,718 0 34.50 3/1/2026 RSU 2018 10,270 792,844 3/1/2015 56,705 0 44.31 3/1/2025 RSU 2017 5,733 442,588 3/1/2014 63,361 0 39.70 3/1/2024 3/1/2013 72,000 0 28.47 3/1/2023 E. Robert Lupone 3/1/2021 0 26,211 51.56 3/1/2031 PSU 2021 14,896 1,149,971 3/1/2020 9,904 19,807 40.60 3/1/2030 RSU 2021 7,448 574,986 3/1/2019 20,528 10,263 54.43 3/1/2029 PSU 2020 15,521 1,198,221 3/1/2018 24,906 0 58.24 3/1/2028 RSU 2020 7,760 599,072 3/1/2017 28,056 0 49.58 3/1/2027 RSU 2019 8,953 691,172 3/1/2016 31,091 0 34.50 3/1/2026 RSU 2018 4,552 351,414 3/1/2015 26,114 0 44.31 3/1/2025 RSU 2017 2,569 198,327 3/1/2014 29,752 0 39.70 3/1/2024 Julie G. Duffy 3/1/2021 0 19,857 51.56 3/1/2031 PSU 2021 11,285 871,202 3/1/2020 7,428 14,855 40.60 3/1/2030 RSU 2021 5,642 435,562 3/1/2019 14,113 7,056 54.43 3/1/2029 PSU 2020 11,640 898,608 3/1/2018 14,044 0 58.24 3/1/2028 RSU 2020 5,820 449,304 3/1/2017 6,260 0 49.58 3/1/2027 RSU 2019 6,155 475,166 3/1/2016 7,009 0 34.50 3/1/2026 RSU 2018 2,567 198,172 3/1/2015 5,727 0 44.31 2/1/2025 RSU 2017 573 44,236 (1) Stock option awards associated with each annual grant vest ratably over three years on each anniversary of the grant date. (2) The exercise price of stock options is equal to the closing price of our common stock on the date of grant. (3) The following types of stock awards are shown in this table: (a) “PSU” refers to performance share units. These units reward achievement of long-term goals over a three-year performance period, vesting at the end of the third fiscal year. They are settled in cash and valued based on the average closing price of Textron common stock for the first ten trading days of the fiscal year following vesting. Further information about these awards can be found in the CD&A. (b) “RSU” refers to restricted stock units. RSUs granted prior to 2020 vest over five years, in three equal annual installments, beginning on the third anniversary of the grant date. Beginning with 2020 grants, RSUs vest in full on the third anniversary of the grant date. Upon vesting, common stock will be issued to the executive. RSUs are granted with the right to receive dividend equivalents. (4) The market value of RSUs that have not vested as of January 2, 2022 was calculated using the fiscal year-end closing share price of $77.20 multiplied by the number of unvested units as of that date. (5) PSUs granted in 2020 and 2021 vest, to the extent earned, on December 31, 2022 and 2023, respectively. The market value of PSUs that have not vested as of year-end 2021 was calculated using the fiscal year-end closing share price of $77.20 multiplied by the number of unvested units assuming that 100% of the units are earned.
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