Textron said on October 22, 2025 its Board of Directors appointed Lisa M. Atherton, President and Chief Executive Officer of the Company's Bell segment, as the next President and Chief Executive Officer and as a member of the Board, effective January 4, 2026.

1. 01

   Textron said on October 22, 2025 its Board of Directors appointed Lisa M. Atherton, President and Chief Executive Officer of the Company's Bell segment, as the next President and Chief Executive Officer and as a member of the Board, effective January 4, 2026.

2. 02

   The company said Scott C. Donnelly will continue to serve as Chairman of the Board and, effective January 4, 2026, will become Executive Chairman of the Board. It said he will lead the Board and provide advice and counsel to the CEO on company matters.

3. 03

   Textron said it will provide Atherton an annual base salary of $1.3M and target annual incentive compensation of 150% of her base salary, effective January 4, 2026. She will receive a long-term incentive compensation award for 2026 with a target value on the grant date of $10M. In the event of a not for cause termination, she will receive a lump sum severance payment of 2 times the severance payment provided by the Severance Plan for Textron Key Executives, and in the event of a termination within 2 years following a change in control, a lump sum severance payment of 3 times the severance payment provided by the Plan.

4. 04

   The company said it will provide Donnelly an annual base salary of $1.485M and target annual incentive compensation of 170% of his base salary, effective January 4, 2026. For 2026, he will receive a long-term incentive compensation award with a target value on the grant date of $4.8M. Textron also said on the same day the Board approved an amendment to the Company's amended and restated by-laws to be effective immediately to accommodate the appointment of an Executive Chairman of the Board who shall be an executive officer of the Company, distinct from the Chief Executive Officer.

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Original filing

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