GRANTS OF PLAN-BASED AWARDS IN FISCAL 2023 The following table sets forth information on plan-based compensation awards granted to the NEOs during Textron’s 2023 fiscal year. Annual equity awards were approved on January 27, 2023 for grant on March 1, 2023. All Other Stock Awards: Number of Shares of Stock or Stock Units (#)(3) All Other Option Awards: Number of Securities Underlying Options (#)(4) Exercise or Base Price of Option Awards ($/sh)(5) Grant Date Fair Value of Stock and Option Awards(6) Estimated Possible Payouts Under Non-Equity Incentive Plan Awards(1) Estimated Future Payouts Under Equity Incentive Plan Awards(2) Name Grant Date Approval Date Grant Type Target ($) Maximum ($) Threshold (#) Target (#) Maximum (#) Scott C. Donnelly Annual IC 2,320,500 4,641,000 3/1/2023 1/27/2023 PSUs 23,001 92,003 184,006 6,733,700 3/1/2023 1/27/2023 RSUs 46,002 3,366,886 3/1/2023 1/27/2023 Stock Options 145,937 73.19 3,477,679 Frank T. Connor Annual IC 1,150,000 2,300,000 3/1/2023 1/27/2023 PSUs 6,613 26,451 52,902 1,935,949 3/1/2023 1/27/2023 RSUs 13,226 968,011 3/1/2023 1/27/2023 Stock Options 41,957 73.19 999,835 E. Robert Lupone Annual IC 682,500 1,365,000 3/1/2023 1/27/2023 PSUs 2,818 11,271 22,542 824,924 3/1/2023 1/27/2023 RSUs 5,636 412,499 3/1/2023 1/27/2023 Stock Options 17,878 73.19 426,033 Julie G. Duffy Annual IC 525,000 1,050,000 3/1/2023 1/27/2023 PSUs 2,168 8,670 17,340 634,557 3/1/2023 1/27/2023 RSUs 4,335 317,279 3/1/2023 1/27/2023 Stock Options 13,752 73.19 327,710 (1) These amounts refer to awards of annual incentive compensation made under our Short-Term Incentive Plan. The performance metrics and methodology for calculating payments are described in the CD&A. (2) These amounts refer to the number of PSUs granted under the Textron Inc. 2015 Long-Term Incentive Plan. PSUs are performance share units which are earned based upon performance against pre-established metrics over a three-year performance period as described in the CD&A. PSUs are typically payable in cash based on the average closing price of our common stock for the first ten trading days of the fiscal year following vesting, but, in the Committee’s discretion, can be settled in shares of common stock, cash, or a combination of both. Grants of PSUs in 2023 vest at the end of fiscal 2025. The “target” amount to be paid assumes 100% of PSUs granted are earned, and the “maximum” that can be paid per the plan design is 200% of the PSUs granted. (3) These amounts represent the number of RSUs granted in 2023 pursuant to the Textron Inc. 2015 Long-Term Incentive Plan. RSUs earn dividend equivalents until vested and vest in full on the third anniversary of the grant date. (4) These amounts represent the number of stock options granted in 2023 pursuant to the Textron Inc. 2015 Long-Term Incentive Plan. Stock options vest ratably over three years, beginning on March 1, 2024, and annually thereafter. (5) Reflects the exercise price for the stock options granted on March 1, 2023 which is equal to the closing price of our common stock on the grant date. (6) Represents the grant date fair value of each equity award listed in the table as determined in accordance with generally accepted accounting principles. 40 TEXTRON 2024 PROXY STATEMENT
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