Why has the Board of Directors increased its size?

The Board of Directors increased its size from twelve to thirteen members to accommodate the appointment of a new director, Ms. Sallie B. Bailey, reflecting a strategic decision to expand the Board's capacity and expertise.

What relevant experience does the new director, Ms. Sallie B. Bailey, bring to L3HARRIS TECHNOLOGIES?

Ms. Bailey possesses significant financial leadership experience. She has served as Executive Vice President and Chief Financial Officer of Louisiana-Pacific Corporation, and previously as Vice President and Chief Financial Officer of Ferro Corporation. She also held various senior management positions in finance at The Timken Company.

Will Ms. Bailey immediately join any Board committees?

No, Ms. Bailey was not appointed to any standing committees of the Board at the time of her appointment. However, it is expected that she will be appointed to one or more standing committees of the Board following the Company's 2018 Annual Meeting of Shareholders.

How will Ms. Bailey be compensated for her role as a director?

Ms. Bailey will be compensated for her service as a non-employee director in accordance with the compensation plan for non-employee directors, as previously filed by the Company. This information is detailed in Exhibit 10.1 of the Company's Form 8-K filed on November 2, 2017.

LHX 8-K: Leadership Changes

Summary

This 8-K filing from L3HARRIS TECHNOLOGIES, INC. /DE/ (LHX), filed on April 27, 2018, announces a change in the composition of its Board of Directors. The Board has increased its size from twelve to thirteen members and appointed Ms. Sallie B. Bailey as a new director. This appointment is effective April 26, 2018, and Ms. Bailey is expected to be nominated for re-election at the upcoming annual shareholder meeting. Ms. Bailey brings substantial financial and executive leadership experience to the Board, having previously served as CFO for Louisiana-Pacific Corporation and Ferro Corporation, as well as holding senior finance roles at The Timken Company. Her appointment is a strategic move to enhance the Board's expertise. While not immediately assigned to a committee, it is anticipated she will join one or more standing committees after the 2018 Annual Meeting.

Key Highlights

1Board size increased from twelve to thirteen directors.
2Ms. Sallie B. Bailey appointed as a new director.
3Ms. Bailey's appointment is effective April 26, 2018.
4Ms. Bailey has extensive experience as a Chief Financial Officer (CFO) and in senior financial management roles at public companies (Louisiana-Pacific, Ferro Corp., Timken Co.).
5Ms. Bailey is expected to be nominated for re-election at the 2018 Annual Meeting of Shareholders.
6Ms. Bailey is expected to be appointed to one or more Board committees following the 2018 Annual Meeting.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Apr 27, 2018)

Summary

Key Highlights

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