Performance Share Units and Value Awarded and Earned for Period
Name
Position
2013-2015 Units Original Award
Units Paid1
2013-2015 Value
Original Award
Final Payout2
Scott C. Donnelly
CEO
147,623
115,937
$4,202,827
$4,559,802
Frank T. Connor
CFO
43,711
34,329
1,244,452 1,350,160
E. Robert Lupone
General Counsel
21,146
16,607
602,027 653,153
Cheryl H. Johnson
EVP, HR
8,626
6,774
245,582 266,421
(1)The Committee applied its negative discretion based upon the TSR modifier to reduce the units paid by 18.7%.
(2) The value of the final payouts was higher than the value of the original award due to the increase in Textron’s stock price from 2013 through 2015.
The chart below shows our CEO’s 2013-2015 cycle PSU award from grant date value, as adjusted by the Company’s
performance against the goals set by the Committee and as adjusted for the TSR modifier, to final payout value, reflecting
the increase in Textron’s stock price during the performance period.
2013-2015 PSU Award Value:
Scott C. Donnelly
Reflects performance adjustment,
TSR modifier and stock price
increase of 38.1%
$5,000,000
$4,000,000
100%
$3,000,000
108.5%
96.6%
78.6%
$2,000,000
$1,000,000
$0
Grant Date
Award Value
Value After
Performance
Adjustment
Value After
TSR Modifier
Final Payout
Value
Restricted Stock Units and Stock Options
In addition to PSUs, the Company’s long-term incentive compensation program consists of RSUs and stock options. The
ultimate value of these awards to the executives, upon the vesting of RSUs or the exercise of stock options, is directly based
upon Textron’s stock price. For the value realized by the executives upon the vesting or exercise of these awards, see
“Option Exercises and Stock Vested in Fiscal 2015” on page 38.
TEXTRON 2016 PROXY STATEMENT
30