(6) The amounts in this column include the value of other benefits and the incremental cost to Textron in 2022 of providing various perquisites in 2022, as detailed below: Benefit Type Mr. Donnelly Mr. Connor Mr. Lupone Ms. Duffy Spillover Savings Plan Contribution(a) 48,888 38,788 98,671 17,414 Contributions to Textron Savings Plan 15,250 15,250 27,450 15,250 Contributions to Retirement Plans 6,100 6,100 0 6,100 Perquisites(b) 90,434 34,669 0 22,520 Total 160,672 94,807 126,121 61,284 (a) These amounts represent the value of cash-settled Textron stock units credited to the NEO’s Spillover Savings Plan(“SSP”) account during the year. For Mr. Lupone, who is not eligible for a defined benefit pension plan, the Company credits an interest-bearing Moody’s account within the SSP with an amount equal to 4% of eligible compensation, reduced by the contribution that was made by the Company under the Textron Savings Plan. (b) This amount includes the following: (i) $2,800 for parking for each of Mr. Donnelly, Mr. Connor and Ms. Duffy, (ii) $9,937 and $5,847 for an annual physical exam for Mr. Donnelly and Ms. Duffy, respectively, (iii) $77,697 for Mr. Donnelly’s personal travel on corporate aircraft, which includes $65,397 for Mr. Donnelly’s usage of corporate aircraft to attend a meeting of an outside board of directors on which he serves at the request of the Company’s board, deemed to be personal travel under SEC rules, (iv) $18,398 for the incremental cost to the Company of corporate aircraft dropping off or picking up Mr. Connor at an alternative airport for his personal convenience, (v) 13,873 for Ms. Duffy’s usage of corporate aircraft to represent Textron at a business event not integrally and directly related to the performance of her duties, deemed to be personal travel under SEC rules, and (vi) $13,471 for Mr. Connor, representing the Company paid portion of the costs for hangar space utilized by his personal aircraft. In addition, family members and invited guests of Mr. Donnelly occasionally fly as additional passengers on business flights. In those cases, the aggregate incremental cost to the Company is a de minimis amount and, as a result, no amount is reflected in the Summary Compensation Table. Textron values the personal use of corporate aircraft by using an incremental cost method that multiplies the hours flown on a personal flight by an hourly direct operating cost rate for the aircraft flown. The rate per flight hour is derived from the aircraft’s variable operating costs which include landing fees, fuel, hangar fees, maintenance, catering, security fees, crew expenses, de-icing costs and other direct operating expenses. The incremental cost of locating aircraft to the origin of a trip or returning aircraft from the completion of a trip are also included in the amount reported. TEXTRON 2023 PROXY STATEMENT 39
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