01—Abstract
Summary
Summary of the 8-K filed December 13, 2021. Cited figures are marked; the original filing is the authoritative source.
L3Harris Technologies, Inc. (LHX) announced on December 9, 2021, that it has elected Admiral Harry B.
Harris, Jr., U.S. Navy (Ret.), as a new director to its Board of Directors. This appointment increases the Board's size from twelve to thirteen members. Admiral Harris brings extensive experience from his distinguished military career, including command of U.S. Pacific Command, and recent service as the U.S. Ambassador to the Republic of Korea.
His appointment is expected to enhance the Board's strategic oversight and governance capabilities. Admiral Harris's directorship commenced on December 9, 2021, and he is expected to be nominated for re-election at the 2022 Annual Meeting of Shareholders. While not initially assigned to any board committees, his future committee assignments are anticipated following the 2022 shareholder meeting.
As a non-employee director, his compensation will align with the company's standard non-employee director compensation policy, effective January 1, 2022. There are no disclosed related-party transactions or arrangements concerning his appointment.
02—Key points
Key Highlights
- L3Harris Technologies appointed Admiral Harry B. Harris, Jr. (Ret.) as a new director to its Board.
- The Board's size has been increased from twelve to thirteen directors.
- Admiral Harris brings significant experience from his military service and diplomatic roles, including commanding U.S. Pacific Command and serving as Ambassador to South Korea.
- His initial term as director began on December 9, 2021, and is expected to extend through the 2022 Annual Meeting of Shareholders.
- Admiral Harris was not immediately assigned to any board committees but is expected to be appointed to one or more committees in the future.
- Compensation for Admiral Harris as a non-employee director will follow the company's established policy.
- No material related-party transactions or arrangements were disclosed in connection with his appointment.
03—Questions
Frequently Asked Questions
Who is Admiral Harry B. Harris, Jr. and what is his background?
Admiral Harry B. Harris, Jr. is a retired U.S. Navy Admiral with a distinguished 40-year military career. His command experience includes U.S. Pacific Command, U.S. Pacific Fleet, and NATO Striking and Support Forces. He also served as the U.S. Ambassador to the Republic of Korea from 2018 to 2021. This extensive background in national security and international relations is now being brought to the L3Harris Board of Directors.
Why did L3Harris expand its Board of Directors?
The company increased the authorized number of directors from twelve to thirteen to accommodate the appointment of Admiral Harry B. Harris, Jr. This expansion was made upon the recommendation of the Nominating and Governance Committee, suggesting a strategic decision to add new expertise and perspectives to the Board's oversight.
Will Admiral Harris be involved in board committees?
While Admiral Harris was not appointed to any specific committees at the time of this filing, the company expects him to be appointed to one or more committees following the 2022 Annual Meeting of Shareholders. The specific committees have not yet been determined.
How will Admiral Harris be compensated for his role as a director?
As a non-employee director, Admiral Harris will receive compensation in accordance with L3Harris's standard Non-Employee Director compensation policy, which is set to be effective January 1, 2022. Details of this compensation policy are available in prior SEC filings.
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