TEXTRON 2025 PROXY STATEMENT 51 PEO Non-PEO NEOs (average) 2024 2023 2022 2021 2020 2024 2023 2022 2021 2020 Summary Compensation Table (“SCT”) Total $19,643,978 $ 20,391,762 $ 15,367,279 $ 18,576,014 $17,770,781 $4,526,389 $ 4,921,857 $ 3,881,920 $ 4,819,441 $4,206,109 Adjustments: Deduction for Change in Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column of the SCT (894,425) (2,682,449) — (95,972) (2,838,193) (329,030) (759,286) — (216,984) (708,553) Increase for “Service Cost” for pension plans 260,276 413,267 576,449 580,054 512,139 147,433 129,420 162,591 165,031 188,354 Deduction for the grant date fair value of stock awards (PSUs and RSUs) awarded during the year, reported under the “Stock Awards” column in the SCT (11,586,840) (10,100,586) (8,314,479) (10,500,442) (10,522,576) (1,938,279) (1,697,740) (1,444,119) (1,828,820) (1,797,292) Deduction for the grant date fair value of options awarded during the year, reported under the “Option Awards” column in the SCT (3,946,683) (3,477,679) (2,905,358) (3,011,625) (2,493,513) (660,194) (584,526) (504,602) (527,116) (429,833) Increase for year-end fair value of awards granted during year that remain outstanding and unvested as of year-end(1) 12,206,192 14,676,737 12,650,262 22,165,513 13,307,527 2,041,877 2,466,901 2,190,502 3,879,540 2,293,943 Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end(1) 300,473 4,093,826 1,079,909 14,602,311 1,043,862 48,108 711,301 194,183 2,484,003 170,048 Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during the year (223,541) 4,665,399 264,240 3,486,240 (977,153) (39,921) 814,467 50,307 588,100 (155,581) Increase for value of dividend equivalents 11,020 14,355 18,180 19,617 19,985 1,876 2,469 3,112 3,286 3,237 Total Adjustments (3,873,528) 7,602,871 3,369,203 27,245,696 (1,947,922) (728,130) 1,083,006 651,974 4,547,040 (435,677) “Compensation Actually Paid” $15,770,450 $27,994,633 $18,736,482 $45,821,710 $15,822,859 $3,798,259 $6,004,863 $4,533,894 $9,366,481 $3,770,432 (1) We calculate the fair value of our PSUs in accordance with GAAP, based on the closing price of our common stock and the number of units, as adjusted based on estimates with respect to performance on the relevant metrics. On the grant date, we assume performance at target on the metrics. Following the grant date, we apply the actual relative TSR as of the valuation date, and, for the remaining performance periods, we utilize estimates of performance against the target for each operating metric.
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