OUTSTANDING EQUITY AWARDS AT 2022 FISCAL YEAR-END The following table sets forth information with respect to the NEOs concerning unexercised options and stock awards and other equity incentive plan awards that have not yet vested as of the end of our 2022 fiscal year. Outstanding Equity Awards at 2022 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 (#)(5) Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested ($)(5) Scott C. Donnelly 3/1/2022 0 145,632 71.07 3/1/2032 PSU 2022 155,986 11,043,809 3/1/2021 66,703 133,405 51.56 3/1/2031 RSU 2022 38,997 2,760,988 3/1/2020 155,942 77,971 40.60 3/1/2030 PSU 2021 227,444 16,103,035 3/1/2019 242,419 0 54.43 3/1/2029 RSU 2021 56,861 4,025,759 3/1/2018 193,820 0 58.24 3/1/2028 RSU 2020 61,097 4,325,668 3/1/2017 219,619 0 49.58 3/1/2027 RSU 2019 46,992 3,327,034 3/1/2016 238,578 0 34.50 3/1/2026 RSU 2018 17,716 1,254,293 3/1/2015 194,546 0 44.31 3/1/2025 3/1/2014 222,319 0 39.70 3/1/2024 Frank T. Connor 3/1/2022 0 43,386 71.07 3/1/2032 PSU 2022 46,472 3,290,218 3/1/2021 19,669 39,336 51.56 3/1/2031 RSU 2022 11,618 822,554 3/1/2020 45,982 22,990 40.60 3/1/2030 PSU 2021 67,064 4,748,131 3/1/2019 71,480 0 54.43 3/1/2029 RSU 2021 16,766 1,187,033 3/1/2018 56,179 0 58.24 3/1/2028 RSU 2020 18,015 1,275,462 3/1/2017 62,591 0 49.58 3/1/2027 RSU 2019 13,856 981,005 3/1/2016 68,718 0 34.50 3/1/2026 RSU 2018 5,135 363,558 3/1/2015 56,705 0 44.31 3/1/2025 3/1/2014 63,361 0 39.70 3/1/2024 E. Robert Lupone 3/1/2022 0 18,477 71.07 3/1/2032 PSU 2022 19,792 1,401,274 3/1/2021 8,737 17,474 51.56 3/1/2031 RSU 2022 4,948 350,318 3/1/2020 19,808 9,903 40.60 3/1/2030 PSU 2021 29,792 2,109,274 3/1/2019 30,791 0 54.43 3/1/2029 RSU 2021 7,448 527,318 3/1/2018 24,906 0 58.24 3/1/2028 RSU 2020 7,760 549,408 3/1/2017 28,056 0 49.58 3/1/2027 RSU 2019 5,968 422,534 3/1/2016 31,091 0 34.50 3/1/2026 RSU 2018 2,276 161,141 3/1/2015 26,114 0 44.31 3/1/2025 Julie G. Duffy 3/1/2022 0 14,017 71.07 3/1/2032 15,014 1,062,991 3/1/2021 6,619 13,238 51.56 3/1/2031 PSU 2022 3/1/2020 14,856 7,427 40.60 3/1/2030 RSU 2022 3,754 265,783 22,570 1,597,956 3/1/2019 21,169 0 54.43 3/1/2029 PSU 2021 3/1/2018 14,044 0 58.24 3/1/2028 RSU 2021 5,642 399,454 3/1/2017 6,260 0 49.58 3/1/2027 RSU 2020 5,820 412,056 3/1/2016 7,009 0 34.50 3/1/2026 RSU 2019 4,103 290,492 3/1/2015 5,727 0 44.31 3/1/2025 RSU 2018 1,283 90,836 (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 at a value based on the average closing price of our 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 December 31, 2022 was calculated using the fiscal year-end closing share price of $70.80 multiplied by the number of unvested units. (5) PSUs granted in 2021 and 2022 vest, to the extent earned, on December 31, 2023 and 2024, respectively. The numbers of PSUs and the related values as of December 31, 2022 represent the units earned and payout value at maximum for both the 2021-2023 and 2022-2024 three-year performance periods, rather than the units earned and payout value at target, in accordance with SEC rules requiring reporting of these amounts in this manner because our performance exceeded target during the previous fiscal year. The payout values shown were determined by multiplying the 2022 fiscal year end closing price of our common stock of $70.80 by the maximum number of unearned and unvested PSUs. TEXTRON 2023 PROXY STATEMENT 41
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