8-KLeadership ChangesExhibits & Filings

RTX Corp 8-K Report, Executive Changes (Dec 10, 2014)

Filed December 10, 2014For Securities:RTX

Summary

United Technologies Corporation (UTC) announced a significant leadership change with the appointment of Akhil Johri as Senior Vice President and Chief Financial Officer (CFO), effective January 1, 2015. Mr. Johri, who previously served as CFO of Pall Corporation, brings extensive experience, including a 26-year tenure with UTC in various executive finance roles. His appointment signals a strategic reinforcement of the company's financial leadership team. The compensation package for Mr. Johri includes a base salary of $700,000, an annual bonus target of 100% of his base salary, and significant long-term incentives. These incentives comprise approximately 137,000 stock appreciation rights (SARs) and 49,600 restricted stock units (RSUs), designed to align his interests with shareholders and compensate for forfeited awards from his previous employer. The substantial equity grants, along with a $515,000 signing bonus, underscore the company's commitment to attracting and retaining top financial talent.

Key Highlights

  • 1Akhil Johri appointed as Senior Vice President and Chief Financial Officer (CFO), effective January 1, 2015.
  • 2Mr. Johri has a strong background with 26 years of experience at UTC in various finance leadership roles.
  • 3His previous role was Chief Financial Officer at Pall Corporation.
  • 4Mr. Johri's compensation includes a base salary of $700,000 and an annual bonus target of 100% of base salary.
  • 5He will receive substantial long-term incentives: approximately 137,000 stock appreciation rights (SARs) and 49,600 restricted stock units (RSUs).
  • 6A cash payment of $515,000 will be made to Mr. Johri upon commencement of employment, intended to offset forfeited awards from his prior company.
  • 7Peter F. Longo will resume his role as Vice President, Finance & Chief Financial Officer, UTC Propulsion & Aerospace Systems.

Frequently Asked Questions

Akhil Johri has been appointed as the new Senior Vice President and Chief Financial Officer (CFO) of United Technologies Corporation, effective January 1, 2015.

Mr. Johri's compensation includes a $700,000 base annual salary, an annual bonus target of 100% of his base salary, approximately 137,000 stock appreciation rights (SARs), 49,600 restricted stock units (RSUs), and a $515,000 cash payment upon commencement.

The cash payment and equity awards are designed to compensate Mr. Johri for awards he will forfeit upon leaving his previous employer, Pall Corporation, and to align his financial interests with those of UTC shareholders through long-term incentives.

Upon Mr. Johri's effective date of appointment, Peter F. Longo, the current Acting Chief Financial Officer, will return to his previous position as Vice President, Finance & Chief Financial Officer of UTC Propulsion & Aerospace Systems.