2020–2022 Performance Share Unit Payouts 2020–2022 Units 2020–2022 Value Name Position Units Granted Units Paid Grant Date Value Payout Value Scott C. Donnelly CEO 122,195 174,128 $ 4,961,117 $12,302,143 Frank T. Connor CFO 36,031 51,344 $ 1,462,859 $ 3,627,454 E. Robert Lupone General Counsel 15,521 22,117 $ 630,153 $ 1,562,566 Julie G. Duffy EVP, CHRO 11,640 16,587 $ 472,584 $ 1,171,872 As shown in the table above and illustrated in the graph below, the payout values of the 2020–2022 awards were well above the grant date values of the awards due to the actual performance achieved on the metrics and a 74% increase in Textron’s stock price over the three-year period (3/1/2020 price of $40.60 and 2023 ten-day average of $70.65). As a result, the value of the PSUs at settlement was 248% of their grant date target value. CEO’s 2020–2022 PSU Award Value Restricted Stock Units and Stock Options In addition to PSUs, the Company’s long-term incentive compensation program consists of RSUs and stock options. Our RSUs vest in full on the third anniversary of the grant date, and, upon vesting, the holder is entitled to one share of our common stock for each RSU. Our stock options vest ratably over three years on each anniversary of the grant date. The ultimate value of these awards to the executives, upon the vesting of RSUs or the exercise of stock options, is directly based upon Textron’s stock price at the time of vesting or exercise. For the value realized by the executives upon the vesting or exercise of these awards, see Option Exercises and Stock Vested in Fiscal 2022 on page 42. 34 TEXTRON 2023 PROXY STATEMENT
RkJQdWJsaXNoZXIy MjQ2MDYz