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

ME Staff 8-k

8 years ago

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


Item 9.01 Financial Statements and Exhibits

EXHIBIT INDEX

EXHIBIT 99.1

Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.>

>(d) Election of New Director>

On December 7, 2016, the Board of Directors of Northrop Grumman
Corporation (the Company) elected Mark A. Welsh III to the
Board of Directors effective December 8, 2016. General Welsh is
the Dean of the Bush School of Government and Public Service at
Texas AM University, a position he has held since August 2016.
Prior to his current position, General Welsh most recently
served as the Chief of Staff, U.S. Air Force from August 2012
until his retirement in July 2016, and Commander, U.S. Air
Forces in Europe; Commander, Air Component Command, Ramstein
Air Base, Germany; and Director, Joint Air Power Competency
Center, Ramstein Air Base, Germany from December 2010 to July
2012. He served on active duty in the U.S. Air Force for almost
40 years in various positions.

The Board of Directors appointed General Welsh to the Audit
Committee and the Policy Committee.

General Welsh is entitled to receive an annual cash retainer of
$122,500 per year as well as an additional $10,000 retainer for
serving on the Audit Committee. In addition, General Welsh will
receive an annual equity grant of $145,000 in deferred stock
units to be paid out at the conclusion of his board service, or
earlier, as specified by General Welsh. General Welshs retainer
fees and equity grant will be prorated for 2016.

On December 7, 2016, the Board of Directors also approved an
increase in the size of the Board from 13 members to 14
members.

A copy of the Companys press release announcing the election of
General Welsh is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits




Exhibit No.		Description
Exhibit 99.1		Press Release (Northrop Grumman Elects Mark A. Welsh III to Its Board of Directors), dated December 8, 2016.

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 +0.71 at 238.43 with 1,680,928 shares trading hands.