RAYTHEON COMPANY (NYSE:RTN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) Election of Director
On August 14, 2017, the Board of Directors of Raytheon Company elected Robert O. Work as an independent director effective immediately, with a term expiring at the annual meeting of stockholders in 2018. The Board also appointed Mr. Work to the Board’s Audit Committee, Public Affairs Committee and Special Activities Committee. A copy of the Company’s press release issued on August 14, 2017, regarding Mr. Work’s election is filed as Exhibit 99.1 to this Form 8-K and is hereby incorporated herein by reference.
The election of Mr. Work was not to any arrangement or understanding between Mr. Work and any third party. As of the date of this report, neither Mr. Work, nor any of his immediate family members, is a party, either directly or indirectly, to any transaction that would be required to be reported to Item 404(a) of Regulation S-K.
Mr. Work will be compensated consistent with the compensation programs for non-employee directors. Upon his election to the Board, he was awarded $105,000 of deferred restricted stock units to the 2010 Stock Plan, which stock units are due to vest on the date of the 2018 annual meeting of stockholders, with the delivery of shares subject to the terms of the award agreement.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release issued by Raytheon Company dated August 14, 2017.
RAYTHEON CO/ ExhibitEX-99.1 2 rtn-081417xexhibit991x8k.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Raytheon CompanyGlobal Headquarters Waltham,…To view the full exhibit click here
About RAYTHEON COMPANY (NYSE:RTN)
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity. It operates in five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS), and Forcepoint. Its IDS’s product lines include Mission Systems and Sensors (MSS), and Integrated Air and Missile Defense (IAMD). Its IIS’s product lines include Cybersecurity and Special Missions (CSM), and Global Training Solutions (GTS). Its MS’s product lines include Air Warfare Systems (AWS), and Air and Missile Defense Systems (AMDS). Its SAS’s product lines include Intelligence, Surveillance and Reconnaissance Systems (ISRS), and Secure Sensor Solutions (SSS).
