Initial Statement of Beneficial Ownership (3)
April 16 2021 - 01:02PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Mitchill Neil G. JR |
2. Date of Event Requiring Statement (MM/DD/YYYY)
4/7/2021
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3. Issuer Name and Ticker or Trading Symbol
RAYTHEON TECHNOLOGIES CORP [RTX]
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(Last)
(First)
(Middle)
870 WINTER STREET |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner ___X___ Officer (give title below) _____ Other (specify below) Chief Financial Officer / |
(Street)
WALTHAM, MA 02451
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 14613.0000 | D | |
Common Stock | 890.0000 | I | By Savings Plan Trustee |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (1) | (1) | Common Stock | 16854.0000 | (1) | D | |
Restricted Stock Units | 2/4/2023 | (2) | Common Stock | 9769.0000 | (2) | D | |
Restricted Stock Units | 2/5/2022 | (2) | Common Stock | 14777.0000 | (2) | D | |
Restricted Stock Units | 2/8/2024 | (2) | Common Stock | 8330.0000 | (2) | D | |
SRP Stock Unit | (3) | (3) | Common Stock | 2291.0069 | (3) | D | |
Stock Appreciation Right | 1/4/2019 | 1/3/2026 | Common Stock | 11236.0000 | $71.0100 | D | |
Stock Appreciation Right | 2/5/2022 | 2/4/2029 | Common Stock | 46377.0000 (4) | $71.6200 | D | |
Stock Appreciation Right | 2/8/2024 | 2/7/2031 | Common Stock | 18900.0000 (5) | $72.4900 | D | |
Stock Appreciation Right | 1/2/2021 | 1/1/2028 | Common Stock | 19394.0000 | $76.0000 | D | |
Stock Appreciation Right | 9/2/2017 | 9/1/2024 | Common Stock | 9023.0000 | $81.0200 | D | |
Stock Appreciation Right | 1/3/2020 | 1/2/2027 | Common Stock | 8938.0000 | $82.3500 | D | |
Stock Appreciation Right | 1/2/2018 | 1/1/2025 | Common Stock | 5873.0000 | $85.4700 | D | |
Stock Appreciation Right | 2/4/2023 | 2/3/2030 | Common Stock | 52280.0000 | $90.7300 | D | |
Explanation of Responses: |
(1) | These Restricted Stock Units ("RSUs") were awarded on February 13, 2017 in connection with the reporting person's membership in the Raytheon Technologies Corporation ("RTX") (formerly United Technologies Corporation ("UTC")) Executive Leadership Group ("ELG"). Following three years of ELG service, each RSU, including accumulated dividend equivalents, represents a right to receive one share of RTX Common Stock upon a Qualifying Separation from RTX (as defined in Exhibit 10.6 of UTC's 2018 Form 10-K). |
(2) | Each RSU, including dividend equivalents that accrue during the vesting period, represents a contingent right to receive one share of RTX Common Stock. |
(3) | Each Savings Restoration Plan ("SRP") stock unit is the economic equivalent of one share of RTX common stock. The reported SRP stock units were acquired under legacy United Technologies Corporation's Savings Restoration Plan, an excess benefit plan, and are to be settled upon the reporting person's retirement or other termination of service. |
(4) | In February 2019, in addition to the stock appreciation rights ("SARs") and not included in this number, the reporting person was also awarded performance share units ("PSUs") under the legacy United Technologies Corporation Long-Term Incentive Plan. Following the separation of Otis Worldwide Corporation and Carrier Global Corporation from United Technologies Corporation ("UTC") on April 3, 2020 (after which UTC completed its merger of equals with Raytheon Company to form RTX), these PSUs were converted to RSUs and relate to 10,287 shares of RTX Common Stock. Each RSU represents the right to receive one share of RTX Common Stock. |
(5) | In February 2021, in addition to the SARs and not included in this number, the reporting person was also awarded 8,280 PSUs under the RTX Long-Term Incentive Plan. Each PSU has a value equal to one share of RTX Common Stock. These PSUs vest solely upon achievement of pre-established performance goals for RTX's return on invested capital ("ROIC"), earnings per share ("EPS") growth and total shareholder return ("TSR") relative to the S&P 500 and aerospace & defense peer companies. The performance period for EPS growth and ROIC is one-year, followed by a two-year holding period. Both TSR goals have a three-year performance period. |
Remarks: mitchill-poa_04142021.txt |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Mitchill Neil G. JR 870 WINTER STREET WALTHAM, MA 02451 |
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| Chief Financial Officer |
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Signatures
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/s/ Dana Ng as Attorney-In-Fact | | 4/16/2021 |
**Signature of Reporting Person | Date |
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