EXECUTIVE COMPENSATION The following Summary Compensation Table sets forth information concerning compensation of our principal executive officer, principal financial officer and each other individual who was serving as an executive officer at the end of Textron’s 2023 fiscal year (each, an “NEO” and collectively, the “NEOs”). SUMMARY COMPENSATION TABLE Name and Principal Position Year Salary ($)(1) Stock Awards ($)(2) Option Awards ($)(3) Non-Equity Incentive Plan Compensation ($)(4) Change in Pension Value and Nonqualified Deferred Compensation Earnings ($)(5) All Other Compensation ($)(6) Total ($) Scott C. Donnelly 2023 1,352,500 10,100,586 3,477,679 2,621,000 2,682,449 157,548 20,391,762 Chairman, President and 2022 1,282,769 8,314,479 2,905,358 2,704,000 0 160,672 15,367,279 Chief Executive Officer 2021 1,236,000 10,500,442 3,011,625 3,639,000 95,972 92,975 18,576,014 Frank T. Connor 2023 1,140,385 2,903,960 999,835 1,299,000 1,190,453 86,572 7,620,205 Executive Vice President and 2022 1,080,769 2,477,074 865,551 1,430,000 0 94,807 5,948,201 Chief Financial Officer 2021 1,000,000 3,096,153 888,025 1,963,000 250,381 74,912 7,272,471 E. Robert Lupone 2023 902,308 1,237,423 426,033 771,000 0 115,128 3,451,892 Executive Vice President, 2022 861,346 1,054,963 368,616 848,000 0 126,121 3,259,047 General Counsel and Secretary 2021 820,192 1,368,645 394,476 1,215,000 0 89,457 3,887,770 Julie G. Duffy 2023 692,308 951,836 327,710 593,000 1,087,406 41,215 3,693,475 Executive Vice President and 2022 653,269 800,319 279,639 644,000 0 61,284 2,438,511 Chief Human Resources Officer 2021 620,192 1,021,663 298,848 920,000 400,571 36,810 3,298,084 (1)Base salary increases, if any, are implemented in the first pay period in March of each year; therefore, amounts shown in this column may not exactly match the base salaries disclosed in the CD&A. (2)The numbers shown in this column represent the grant date fair values of equity awards granted during the fiscal year, whether settled in stock or cash, including PSUs and RSUs, which are described in the CD&A. The grant date fair values are determined based on the closing price of our common stock on the date of grant, and the PSU values assume performance at target on the metrics. Assuming maximum performance is achieved, the grant date fair value of the PSUs granted in 2023 for the three-year performance period would be: Mr. Donnelly, $13,467,399, Mr. Connor, $3,871,897, Mr. Lupone,$1,649,849 and Ms. Duffy, $1,269,115. (3)The amounts that appear in this column represent the grant date fair value of stock options granted during the fiscal year. The grant date fair values have been determined based on the assumptions and methodologies set forth in Note 14 Share-Based Compensation in Textron’s Annual Report on Form 10-K for the fiscal year ended December 30, 2023. The number of shares underlying the stock options granted to each NEO during 2023 is detailed in the Grants of Plan- Based Awards in Fiscal 2023 table on page 40. (4)The amounts in this column reflect annual incentive compensation earned under Textron’s annual incentive compensation program. (5)The amounts in this column reflect the year-over-year change in actuarial present value of accumulated pension benefits under all defined benefit plans in which the NEOs participate. Mr. Lupone does not participate in any of our defined benefit pension plans as he joined the Company after the plans were closed to new employees. For Ms. Duffy, this column also includes $119 in above-market non-qualified deferred compensation earnings that were posted to her interest-bearing account under the Deferred Income Plan for Textron Executives. Earnings are considered “above-market” if they were higher than 120% of the long-term applicable federal rate with compounding. 38 TEXTRON 2024 PROXY STATEMENT
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