What was the main purpose of this 8-K filing?

This 8-K filing reports on the significant events and voting results from Harris Corporation's 2010 Annual Meeting of Shareholders, which took place on October 22, 2010. It covers director elections, executive compensation plans, and auditor ratification.

What is the significance of the approved Annual Incentive Plan?

The approval of the Harris Corporation Annual Incentive Plan by shareholders allows the company to implement a new incentive program for its officers, aligning executive compensation with company performance. This plan became effective on July 3, 2010.

Were there any notable shareholder proposals that were passed or rejected?

Yes, a shareholder proposal requesting an amendment to the company's By-Laws to require an independent chairman of the board was presented and ultimately rejected by the shareholders. All other management-sponsored proposals, including director elections and plan approvals, were approved.

What changes were made to director compensation?

Effective January 1, 2011, outside directors will receive a $10,000 increase in the annual value of Harris Stock Equivalent Units, bringing the total to $116,000. Additionally, the annual cash retainer for the Chairperson of the Audit Committee increased by $10,000 to $20,000, and the annual cash retainer for the Chairperson of other standing committees also increased by $10,000 to $15,000.

LHX 8-K: Leadership Changes & Shareholder Matters

Summary

This L3Harris Technologies (then Harris Corporation) 8-K filing from October 2010 primarily details the outcomes of the company's 2010 Annual Meeting of Shareholders. Key information for investors includes the shareholder approval of the Annual Incentive Plan, which became effective in July 2010, and the election of all seven director nominees for a one-year term. The meeting also saw the ratification of Ernst & Young LLP as the independent registered public accounting firm for the upcoming fiscal year and the re-approval of performance measures for the 2005 Equity Incentive Plan.

Key Highlights

1Shareholders approved the Harris Corporation Annual Incentive Plan, effective July 3, 2010.
2All seven nominated directors were elected to the Board of Directors for a one-year term.
3The appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year ending July 1, 2011, was ratified.
4Shareholders re-approved the performance measures for the Harris Corporation 2005 Equity Incentive Plan.
5A shareholder proposal requesting an independent chairman of the board was rejected.
6Changes to outside director compensation were approved, effective January 1, 2011, including increased stock equivalents and committee chairperson retainers.
7Lewis Hay III was designated as the Lead Independent Director for a term expiring after the 2011 Annual Meeting.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Oct 27, 2010)

Summary

Key Highlights

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