SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 25, 2021
RAYTHEON TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)
|(State of Incorporation)||(Commission|
|870 Winter Street,||Waltham,||Massachusetts||02451|
(Address of principal executive offices, including zip code)
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Stock ($1 par value)||RTX||New York Stock Exchange|
|(CUSIP 75513E 101)|
|2.150% Notes due 2030||RTX 30||New York Stock Exchange|
|(CUSIP 75513E AB7)|
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 25, 2021, the Human Capital & Compensation Committee (the “Committee”) of the Board of Directors of Raytheon Technologies Corporation (the “Company”) approved the following compensation adjustments for Neil Mitchill, Executive Vice President & Chief Financial Officer of the Company, in connection with his appointment as Chief Financial Officer on April 7, 2021: (i) annual base salary increase from $675,000 to $800,000, (ii) annual incentive target increase from 70% to 110% of annual base salary, and (iii) grant of an incremental 2021 long-term incentive award with a grant date value of $1,500,000, comprised of 60% performance share units, 20% restricted stock units, and 20% stock appreciation rights.
The annual base salary and annual target bonus adjustments are effective retroactive to Mr. Mitchill’s April 7, 2021 appointment date, and the incremental 2021 long-term incentive award was granted effective April 26, 2021.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|RAYTHEON TECHNOLOGIES CORPORATION|
Date: April 29, 2021
/S/ FRANK R. JIMENEZ
Frank R. Jimenez
Executive Vice President & General Counsel