2018 Proxy Statement

TEXTRON 2018 PROXY STATEMENT 2 CHANGING OR REVOKING A PROXY Whether voting by mail, via the Internet or by telephone, if you are a shareholder of record, you may change or revoke your proxy at any time before it is voted by submitting a new proxy with a later date, voting via the Internet or by telephone at a later time, delivering a written notice of revocation to Textron’s Secretary, or voting in person at the meeting. If your shares are held in the name of your broker or bank, you may change or revoke your voting instructions by contacting the bank or EURNHUDJH ¿UP RU RWKHU QRPLQHH KROGLQJ WKH VKDUHV RU E\ REWDLQLQJ D OHJDO SUR[\ IURP VXFK LQVWLWXWLRQ DQG YRWLQJ LQ SHUVRQ at the annual meeting. REQUIRED VOTE A quorum is required to conduct business at the meeting. A quorum requires the presence, in person or by proxy, of the KROGHUV RI D PDMRULW\ RI WKH LVVXHG DQG RXWVWDQGLQJ VKDUHV HQWLWOHG WR YRWH DW WKH PHHWLQJ $EVWHQWLRQV DQG EURNHU ³QRQ YRWHV´ DUH FRXQWHG DV SUHVHQW DQG HQWLWOHG WR YRWH IRU SXUSRVHV RI GHWHUPLQLQJ D TXRUXP $ EURNHU QRQ YRWH RFFXUV ZKHQ \RX IDLO WR provide voting instructions to your broker for shares owned by you but held in the name of your broker and your broker does not have authority to vote without instructions from you. Under those circumstances, your broker may be authorized to vote for \RX ZLWKRXW \RXU LQVWUXFWLRQV RQ URXWLQH PDWWHUV EXW LV SURKLELWHG IURP YRWLQJ ZLWKRXW \RXU LQVWUXFWLRQV RQ QRQ URXWLQH PDWWHUV 7KH UDWL¿FDWLRQ RI LQGHSHQGHQW SXEOLF DFFRXQWDQWV LV D URXWLQH PDWWHU RQ ZKLFK \RXU EURNHU PD\ YRWH \RXU VKDUHV ZLWKRXW \RXU LQVWUXFWLRQV 1RQ URXWLQH PDWWHUV LQFOXGH WKH HOHFWLRQ RI GLUHFWRUV WKH DGYLVRU\ YRWH WR DSSURYH 7H[WURQ¶V H[HFXWLYH FRPSHQVDWLRQ DQG WKH VKDUHKROGHU SURSRVDOV 7KRVH LWHPV IRU ZKLFK \RXU EURNHU FDQQRW YRWH UHVXOW LQ EURNHU QRQ YRWHV Election of each of the nominees for director requires a vote of the majority of the votes cast at the meeting, which means that the number of shares voted “for” a nominee for director must exceed the number of shares voted “against” that nominee. $EVWHQWLRQV DQG EURNHU QRQ YRWHV DUH QRW FRXQWHG IRU WKLV SXUSRVH DQG ZLOO KDYH QR HIIHFW RQ WKH RXWFRPH RI WKH HOHFWLRQ $SSURYDO RI DOO RWKHU PDWWHUV WR EH YRWHG RQ DW WKH PHHWLQJ UHTXLUHV WKH DI¿UPDWLYH YRWH RI D PDMRULW\ RI WKH VKDUHV SUHVHQW LQ person or represented by proxy and entitled to vote on the matter. Abstentions will have the same effect as votes “against” the SURSRVDO DQG EURNHU QRQ YRWHV ZKHQ DSSOLFDEOH ZLOO KDYH QR HIIHFW RQ WKH RXWFRPH RI WKH YRWH COSTS OF PROXY SOLICITATION Textron pays the cost of this solicitation of proxies. Textron will request that persons who hold shares for others, such as EDQNV DQG EURNHUV VROLFLW WKH RZQHUV RI WKRVH VKDUHV DQG ZLOO UHLPEXUVH WKHP IRU WKHLU UHDVRQDEOH RXW RI SRFNHW H[SHQVHV IRU those solicitations. In addition to solicitation by mail, Textron employees may solicit proxies by telephone, by electronic means DQG LQ SHUVRQ ZLWKRXW DGGLWLRQDO FRPSHQVDWLRQ IRU WKHVH VHUYLFHV 7H[WURQ KDV KLUHG $OOLDQFH $GYLVRUV //& RI %ORRP¿HOG New Jersey, a proxy solicitation organization, to assist in this solicitation process for a fee of $15,500, plus reasonable RXW RI SRFNHW H[SHQVHV CONFIDENTIAL VOTING POLICY 8QGHU 7H[WURQ¶V SROLF\ RQ FRQ¿GHQWLDO YRWLQJ LQGLYLGXDO YRWHV RI VKDUHKROGHUV DUH NHSW FRQ¿GHQWLDO IURP 7H[WURQ¶V GLUHFWRUV RI¿FHUV DQG HPSOR\HHV H[FHSW IRU FHUWDLQ VSHFL¿F DQG OLPLWHG H[FHSWLRQV &RPPHQWV RI VKDUHKROGHUV ZULWWHQ RQ SUR[LHV RU ballots are transcribed and provided to Textron’s Secretary. Votes are counted by Broadridge Financial Solutions, Inc. and FHUWL¿HG E\ DQ LQGHSHQGHQW ,QVSHFWRU RI (OHFWLRQ ATTENDING THE MEETING If your shares are held in the name of your bank or broker and you plan to attend the meeting, please bring proof of ownership with you to the meeting. A bank or brokerage account statement showing that you owned voting stock of Textron on February 26, 2018 is acceptable proof to obtain admittance to the meeting. If you are a shareholder of record, no proof of RZQHUVKLS LV UHTXLUHG $OO VKDUHKROGHUV RU WKHLU SUR[LHV VKRXOG EH SUHSDUHG WR SUHVHQW JRYHUQPHQW LVVXHG SKRWR LGHQWL¿FDWLRQ upon request for admission to the meeting.