JASPER PHILIP J 4

What Happened

• Philip J. Jasper, President of Raytheon (RTX Corp), was granted stock appreciation rights (SARs) covering 30,200 shares on Feb 11, 2026. The grant price reported is $196.51 per share, giving an aggregate grant value of $5,934,602. This transaction is reported as an award/grant (code A) and is a derivative award, not an open-market purchase of shares.
• The filing also notes (footnote) that, separate from these SARs, Jasper was awarded 14,505 performance share units (PSUs) under the RTX Long-Term Incentive Plan; each PSU equals one share and vests only if pre-set performance goals are met over a three-year period.

Key Details

• Transaction date: 2026-02-11; Filing date (Form 4): 2026-02-13.
• Award type: Stock appreciation rights (SARs) — derivative grant (code A).
• SARs granted: 30,200 units at $196.51 per share; total reported grant value $5,934,602.
• Additional award: 14,505 PSUs (performance-based, vest on achieving ROIC, EPS growth, and relative total shareholder return goals over three years).
• Shares owned after transaction: Not disclosed in this filing.
• Timeliness: Filed within the standard Form 4 reporting window (no late filing indicated).

Context

• SARs are a form of equity compensation that pay out the increase in share price above the grant price upon vesting/exercise; they do not represent immediate ownership of common stock. PSUs convert to shares only if performance targets are met over the performance period, so these awards are contingent on future results.
• This is an award/grant (compensation), not an insider purchase or sale; such grants are routine executive compensation and reflect company compensation policy rather than an immediate buy/sell signal.