NORTHROP GRUMMAN CORPORATION (NYSE:NOC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
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Item 9.01 Financial Statements and Exhibits
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Index to Exhibits
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of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers>
Company) announced that Thomas E. Vice, Corporate Vice
President, and President, Aerospace Systems of the Company,
will retire from the Company effective August 18, 2017. He will
move from his current role as Corporate Vice President and
President, Aerospace Systems to the position of Corporate Vice
President on April 1, 2017, to support an effective transition
and other Company initiatives until his retirement from the
Company. The Board of Directors has elected Janis Pamiljans,
currently Vice President and General Manager, Strategic
Systems, to serve as the Corporate Vice President and
President, Aerospace Systems effective April 1, 2017.
Retirement Agreement dated February 27, 2017 (the Agreement).
Mr. Vice will be eligible for retirement pro rata treatment of
his unvested long-term incentive grants under the Companys
long-term incentive plan, pension benefits under the Companys
retirement program, and a pro rata bonus under the Companys
2002 incentive compensation plan, subject to the terms of the
Agreement, including non-compete and non-solicitation
provisions. The foregoing discussion of terms and conditions of
the Agreement is qualified by reference to the full text of the
Agreement, which is attached as Exhibit 10.1.
since 1987, has most recently held the position of Vice
President and General Manager, Strategic Systems. Prior to this
position, Mr. Pamiljans held various other positions with the
Company, including Vice President and General Manager, Unmanned
Systems.
Exhibit 99.1 and is incorporated herein by reference.
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Exhibit No.
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Description
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Exhibit 99.1
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Press Release (Northrop Grumman Board Elects Janis G.
Pamiljans Corporate Vice President and President, Aerospace Systems; Thomas E. Vice to Retire), dated February 27, 2017 |
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Exhibit 10.1
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Transition and Retirement Agreement, dated February
27, 2017 |
About NORTHROP GRUMMAN CORPORATION (NYSE:NOC)
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world. The Company operates through four segments: Aerospace Systems, Electronic Systems, Information Systems and Technical Services. It offers a portfolio of capabilities and technologies that enable it to deliver systems and solutions for applications. The Company participates in defense and government programs in the United States and abroad. The Company conducts business with the United States Government, the Department of Defense (DoD) and intelligence community. The Company also conducts business with local, state and foreign Governments, and domestic and international commercial customers. NORTHROP GRUMMAN CORPORATION (NYSE:NOC) Recent Trading Information
NORTHROP GRUMMAN CORPORATION (NYSE:NOC) closed its last trading session up +3.55 at 248.60 with 1,042,146 shares trading hands.