EXECUTIVE COMPENSATION The following Summary Compensation Table sets forth information concerning compensation of our principal executive officer, principal financial officer and each other individual who was serving as an executive officer at the end of Textron’s 2022 fiscal year (each, an “NEO” and collectively, the “NEOs”). SUMMARY COMPENSATION TABLE Name and Principal Position Year Salary ($)(1) Stock Awards ($)(2) Option Awards ($)(3) Non-Equity Incentive Plan Compensation ($)(4) Change in Pension Value and Nonqualified Deferred Compensation Earnings ($)(5) All Other Compensation ($)(6) Total ($) Scott C. Donnelly 2022 1,282,769 8,314,479 2,905,358 2,704,000 0 160,672 15,367,279 Chairman, President and 2021 1,236,000 10,500,442 3,011,625 3,639,000 95,972 92,975 18,576,014 Chief Executive Officer 2020 1,093,385 10,522,576 2,493,513 744,000 2,838,193 79,114 17,770,781 Frank T. Connor 2022 1,080,769 2,477,074 865,551 1,430,000 0 94,807 5,948,201 Executive Vice President and 2021 1,000,000 3,096,153 888,025 1,963,000 250,381 74,912 7,272,471 Chief Financial Officer 2020 942,308 3,095,821 735,242 652,000 1,020,675 70,671 6,516,717 E. Robert Lupone 2022 861,346 1,054,963 368,616 848,000 0 126,121 3,259,047 Executive Vice President, 2021 820,192 1,368,645 394,476 1,215,000 0 89,457 3,887,770 General Counsel and Secretary 2020 769,231 1,338,582 316,719 391,000 0 91,711 2,907,243 Julie G. Duffy 2022 653,269 800,319 279,639 644,000 0 61,284 2,438,511 Executive Vice President and 2021 620,192 1,021,663 298,848 920,000 400,571 36,810 3,298,084 Chief Human Resources Officer 2020 567,308 957,473 237,537 293,000 1,104,983 34,065 3,194,366 (1) Base salary increases, if any, are implemented in the first pay period in March of each year; therefore, amounts shown in this column may not exactly match the base salaries disclosed in the CD&A. (2) The numbers shown in this column represent the grant date fair values of equity awards granted during the fiscal year, whether settled in stock or cash, including PSUs and RSUs, which are described in the CD&A. The grant date fair values are determined based on the closing price of our common stock on the date of grant, and the PSU values assume performance at target on the metrics. Assuming maximum performance is achieved, the grant date fair value of the PSUs granted in 2022 for the three-year performance period would be: Mr. Donnelly, $11,085,925, Mr. Connor, $3,302,765, Mr. Lupone, $1,406,617 and Ms. Duffy, $1,067,045. (3) The amounts that appear in this column represent the grant date fair value of stock options granted during the fiscal year. The grant date fair values have been determined based on the assumptions and methodologies set forth in Note 14 Share-Based Compensation in Textron’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The number of shares underlying the stock options granted to each NEO during 2022 is detailed in the Grants of Plan- Based Awards in Fiscal 2022 table on page 40. (4) The amounts in this column reflect annual incentive compensation earned under Textron’s annual incentive compensation program. (5) The amounts in this column reflect the year-over-year change in actuarial present value of accumulated pension benefits under all defined benefit plans in which the NEOs participate. Mr. Lupone does not participate in any of our defined benefit pension plans as he joined the Company after the plans were closed to new employees. Due to an increase in the discount rate used to value pension plan liabilities, the actuarial present value of these benefits declined in 2022 compared to 2021. The aggregate decline in the present value of the accumulated pension benefit for the participating NEOs during fiscal year 2022 was: Mr. Donnelly, $2,774,854, Mr. Connor, $353,657, and Ms. Duffy, $502,008. Per SEC rules, we have shown zeroes in this column of the Summary Compensation Table for fiscal year 2022 rather than negative amounts. 38 TEXTRON 2023 PROXY STATEMENT
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