TEXTRON INC. (NYSE:TXT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

TEXTRON INC. (NYSE:TXT) 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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(d) On December 22, 2016, the Board of Directors of Textron Inc. (“Textron”) elected Ralph D. Heath as a member of the Board effective January 1, 2017. Heath is the retired Executive Vice President—Aeronautics of Lockheed Martin Corporation, a global security and aerospace company. Mr. Heath will serve on the Board’s Audit Committee and Organization and Compensation Committee.

Heath joined Lockheed Martin in 1975 and became Executive Vice President & Chief Operating Officer, Aeronautics in 1999 until his appointment in 2002 as Executive Vice President & General Manager, F-22 Raptor Program. In 2005 he became Executive Vice President—Aeronautics, a role he held until his retirement in 2012.

Mr. Heath will participate in Textron’s Director Compensation Program as described in Exhibit 10.15 to Textron’s Annual Report on Form 10-K for the fiscal year ended January 2, 2016, which is incorporated by reference herein. to such program, Mr. Heath will be issued 2,000 restricted shares of Textron Common Stock. Textron and Mr. Heath also will enter into Textron’s standard Directors Indemnity Agreement, to which Textron will, subject to certain limitations, indemnify Mr. Heath in connection with any claim arising in connection with his service as a Textron Director and will advance and pay his expenses incurred in connection with such claims.


About TEXTRON INC. (NYSE:TXT)

Textron Inc. is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets. Bell Helicopter is a supplier of military and commercial helicopters, tiltrotor aircraft, and related spare parts and services in the world. Textron Systems segment’s product lines consist of unmanned aircraft systems, marine and land systems, weapons and sensors, and simulation, training and other defense and aviation mission support products and services. The Industrial segment designs and manufactures a range of products under three principal product lines. The Finance segment provides financing to purchasers of Textron Aviation aircraft and Bell helicopters.

TEXTRON INC. (NYSE:TXT) Recent Trading Information

TEXTRON INC. (NYSE:TXT) closed its last trading session up +0.35 at 48.94 with 742,266 shares trading hands.

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