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NORTHROP GRUMMAN CORP /DE/ 8-K/A Report, Executive Changes (Sep 19, 2024)

Reports
Leadership Changes
Filing Date
Filed September 19, 2024
Period End
May 14, 2024
Security
NOC
In the record · 2016–202610-K1110-Q328-K121

NOC filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 121 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jun ’18Jun ’18
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · Nov ’22Nov ’22
  4. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K/A filed September 19, 2024. Cited figures are marked; the original filing is the authoritative source.

This 8-K/A filing from Northrop Grumman Corporation (NOC) provides an amendment regarding the compensation details for Kenneth Crews, who is set to become Corporate Vice President and Chief Financial Officer effective October 1, 2024.

The filing confirms his annualized base salary will be $850,000a and he will have an annual incentive target bonus of 100% of his base salary. This bonus will be prorated for the remainder of fiscal year 2024 and will be tied to the company's pre-established performance goals.

02—Key points

Key Highlights

  1. Kenneth Crews' official start date as CFO is October 1, 2024.
  2. His annual base salary is set at $850,000.
  3. He is eligible for an annual incentive target bonus of 100% of his base salary.
  4. The annual incentive bonus for 2024 will be prorated based on his start date.
  5. Mr. Crews will continue to participate in the company's long-term incentive compensation program.
  6. Future long-term incentive compensation awards for Mr. Crews are expected in 2025.

03—Questions

Frequently Asked Questions

  1. What is the purpose of this 8-K/A filing?

    This filing amends a previous 8-K by providing specific compensation details for Kenneth Crews, who is transitioning into the role of Corporate Vice President and Chief Financial Officer.

  2. When does Kenneth Crews officially become CFO and what is his salary?

    Kenneth Crews officially becomes CFO on October 1, 2024, with an annualized base salary of $850,000.

  3. How is the annual incentive bonus structured for Mr. Crews?

    Mr. Crews is eligible for an annual incentive target bonus of 100% of his base salary. For fiscal year 2024, this bonus will be prorated, and its actual payout will depend on the company achieving pre-established performance goals.

  4. Will Mr. Crews receive long-term incentives?

    Yes, Mr. Crews will continue to be eligible for the company's long-term incentive compensation program, with awards anticipated in 2025.

04—Continue

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