Textron 2020 Proxy Statement

TEXTRON 2020 PROXY STATEMENT 41 OUTSTANDING EQUITY AWARDS AT 2019 FISCAL YEAR-END The following table sets forth information with respect to the NEOs concerning unexercised options, stock awards that have not yet vested, and equity incentive plan awards as of the end of our 2019 fiscal year. Grant Date (1) Number of Securities Underlying Unexercised Options (#) Exercisable Number of Securities Underlying Unexercised Options (#) Unexercisable Option Exercise Price ($) (2) Option Expiration Date Type of Stock Award (3) Grant Year Number of Shares or Units of Stock That Have Not Vested (#) Market Value of Shares or Units of Stock That Have Not Vested ($) (4) Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested (#) Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested ($) (5) Name Scott C. Donnelly Frank T. Connor E. Robert Lupone Julie G. Duffy 3/1/2019 0 242,419 54.43 3/1/2029 PSU 2019 117,480 4,204,844 3/1/2018 64,607 129,213 58.24 3/1/2028 RSU 2019 70,488 3,153,633 3/1/2017 146,413 73,206 49.58 3/1/2027 PSU 2018 88,582 3,170,527 3/1/2016 238,578 0 34.50 3/1/2026 RSU 2018 53,149 2,377,886 3/1/2015 194,546 0 44.31 3/1/2025 RSU 2017 60,350 2,700,059 3/1/2014 222,319 0 39.70 3/1/2024 RSU 2016 47,800 2,138,572 3/1/2013 243,157 0 28.47 3/1/2023 RSU 2015 20,858 933,187 3/1/2012 300,000 0 27.76 3/1/2022 3/1/2011 227,766 0 26.25 3/1/2021  3/1/2019 0 71,480 54.43 3/1/2029 PSU 2019 34,640 1,239,835 3/1/2018 18,727 37,452 58.24 3/1/2028 RSU 2019 20,784 929,876 3/1/2017 41,728 20,863 49.58 3/1/2027 PSU 2018 25,676 918,995 3/1/2016 68,718 0 34.50 3/1/2026 RSU 2018 15,405 689,220 3/1/2015 56,705 0 44.31 3/1/2025 RSU 2017 17,199 769,483 3/1/2014 63,361 0 39.70 3/1/2024 RSU 2016 13,768 615,980 3/1/2013 72,000 0 28.47 3/1/2023 RSU 2015 6,079 271,974 3/1/2012 91,607 0 27.76 3/1/2022  3/1/2011 69,566 0 26.25 3/1/2021 3/1/2019 0 30,791 54.43 3/1/2029 PSU 2019 14,922 534,088 3/1/2018 8,302 16,604 58.24 3/1/2028 RSU 2019 8,953 400,557 3/1/2017 18,704 9,352 49.58 3/1/2027 PSU 2018 11,383 407,420 3/1/2016 31,091 0 34.50 3/1/2026 RSU 2018 6,829 305,529 3/1/2015 26,114 0 44.31 3/1/2025 RSU 2017 7,709 344,901 3/1/2014 29,752 0 39.70 3/1/2024 RSU 2016 6,229 278,685 3/1/2013 34,831 0 28.47 3/1/2023 RSU 2015 2,799 125,227 3/1/2019 0 21,169 54.43 3/1/2029 PSU 2019 10,259 367,190 3/1/2018 4,682 9,362 58.24 3/1/2028 RSU 2019 6,155 275,375 3/1/2017 4,174 2,086 49.58 3/1/2027 PSU 2018 6,419 229,749 3/1/2016 7,009 0 34.50 3/1/2026 RSU 2018 3,851 172,294 3/1/2015 5,727 0 44.31 3/1/2025 RSU 2017 1,720 76,953 RSU 2016 1,404 62,815 RSU 2015 614 27,470 Outstanding Equity Awards at 2019 Fiscal Year-End Option Awards Stock Awards (1) Stock option awards associated with each annual grant vest ratably over three years on each anniversary of the grant date. (2) The exercise price of stock options is equal to the closing price of our common stock on the date of grant. (3) The following types of stock awards are shown in this table: (a) “ PSU ” refers to performance share units. These units reward achievement of long-term goals over a three-year performance period, vesting at the end of the third fiscal year. They are settled in cash and valued based on the average closing price of Textron common stock for the first ten trading days of the fiscal year following vesting. Further information about these awards can be found in the CD&A. (b) “ RSU ” refers to restricted stock units. RSUs vest over five years, in three equal annual installments, beginning on the third anniversary of the grant date. Upon vesting, common stock will be issued to the executive. RSUs are granted with the right to receive dividend equivalents. (4) The market value of RSUs that have not vested as of January 4, 2020 was calculated using the fiscal year-end closing share price of $44.74 multiplied by the number of unvested units as of that date. (5) PSUs granted in 2018 and 2019 vest, to the extent earned, on January 2, 2021 and January 1, 2022, respectively. The market value of PSUs that have not vested as of year-end 2019 was calculated using the fiscal year-end closing share price of $44.74 multiplied by the number of unvested units assuming that 100% of the units are earned and assuming a median TSR performance modifier for the three-year performance period (representing the target performance level).