2018 Proxy Statement

TEXTRON 2018 PROXY STATEMENT 5 20 20 22 23 26 27 31 31 31 31 32 32 32 33 34 34 36 37 38 39 41 42 46 47 47 48 49 50 50 51 53 55 55 56 Compensation Discussion and Analysis Executive Summary Overview and Objectives of Executive Compensation Program Target Pay Incentive Compensation Performance Analysis Risks Related to Compensation Other Compensation Programs Role of Independent Compensation Consultant Stock Ownership Requirements $QWL +HGJLQJ DQG 3OHGJLQJ 3ROLF\ Clawback Policy Compensation Arrangements Relating to Termination of Employment Tax Considerations Executive Compensation Summary Compensation Table *UDQWV RI 3ODQ %DVHG $ZDUGV LQ )LVFDO 2XWVWDQGLQJ (TXLW\ $ZDUGV DW )LVFDO <HDU (QG Option Exercises and Stock Vested in Fiscal 2017 3HQVLRQ %HQH¿WV LQ )LVFDO 1RQTXDOL¿HG 'HIHUUHG &RPSHQVDWLRQ Potential Payments Upon Termination or Change in Control Pay Ratio Equity Compensation Plan Information Evaluation of Risk in Compensation Plans Transactions with Related Persons Advisory Vote to Approve Textron’s Executive Compensation 5DWLÀFDWLRQ RI $SSRLQWPHQW RI ,QGHSHQGHQW 5HJLVWHUHG 3XEOLF $FFRXQWLQJ )LUP Fees to Independent Auditors Shareholder Proposal Regarding Shareholder Action by Written Consent Shareholder Proposal Regarding Director Tenure Limit Other Matters to Come Before the Meeting Shareholder Proposals and Other Matters for 2019 Annual Meeting Delivery of Documents to Shareholders Sharing an Address