Initial Statement of Beneficial Ownership (3)
April 13 2020 - 4:34PM
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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OMB APPROVAL
OMB Number:
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
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Balsbough Douglas |
2. Date of Event Requiring Statement (MM/DD/YYYY)
4/3/2020
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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)
EVP & Chief HR Officer / |
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(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 | 5577.0000 | D | |
| Common Stock | 10253.0000 | 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 | 6570.0000 (2) | (1) | D | |
| Restricted Stock Units RSU | 1/2/2021 | (3) | Common Stock | 1098.0000 (2) | (3) | D | |
| Restricted Stock Units RSU | 2/4/2023 | (3) | Common Stock | 4125.0000 (2) | (3) | D | |
| Restricted Stock Units RSU | 2/5/2022 | (3) | Common Stock | 1285.0000 (2) | (3) | D | |
| Restricted Stock Units RSU | 5/1/2021 | (3) | Common Stock | 6595.0000 (2) | (3) | D | |
| SRP Stock Unit | (4) | (4) | Common Stock | 711.3420 (2) | (4) | D | |
| Stock Appreciation Right | 1/2/2016 | 1/1/2023 | Common Stock | 9800.0000 (2) | $84.0000 (2) | D | |
| Stock Appreciation Right | 1/4/2019 | 1/3/2026 | Common Stock | 10600.0000 (2) | $95.5700 (2) | D | |
| Stock Appreciation Right | 1/3/2020 | 1/2/2027 | Common Stock | 12600.0000 (2) | $110.8300 (2) | D | |
| Stock Appreciation Right | 1/2/2017 | 1/1/2024 | Common Stock | 7000.0000 (2) | $112.4900 (2) | D | |
| Stock Appreciation Right | 1/2/2018 | 1/1/2025 | Common Stock | 7500.0000 (2) | $115.0400 (2) | D | |
| Stock Appreciation Right | 2/5/2022 | 2/4/2029 | Common Stock | 17300.0000 (5) | $120.7700 (2) | D | |
| Stock Appreciation Right | 1/2/2021 | 1/1/2028 | Common Stock | 14500.0000 (6) | $128.1600 (2) | D | |
| Stock Appreciation Right | 2/4/2023 | 2/3/2030 | Common Stock | 23000.0000 (2) | $153.0000 (2) | D | |
| Explanation of Responses: |
| (1) | These Restricted Stock Units (RSU) were awarded in connection with the reporting person's membership in legacy United Technologies Corporation's (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 Raytheon Technologies Corporation (RTC) Common Stock upon a Qualifying Separation from RTC (as defined in Exhibit 10.6 of UTC's 2019 Form 10-K). |
| (2) | On April 3, 2020, United Technologies Corporation completed its separation into three independent, publicly-traded companies (the Separation) United Technologies Corporation, Carrier Global Corporation, and Otis Worldwide Corporation and, immediately following the Separation, United Technologies Corporation completed its merger of equals with Raytheon Company. In connection with the Separation, all equity awards held by the reporting person with respect to United Technologies Corporation common stock as of the Separation are being equitably adjusted. The amount of securities, and the applicable exercise price (if any), reported on this Form 3 do not reflect such adjustment and this Form 3 will be amended in a subsequent filing to reflect such adjustment. |
| (3) | Each RSU, including dividend equivalents that accrue during the vesting period, represents a contingent right to receive one share of RTC Common Stock. |
| (4) | Each Savings Restoration Plan (SRP) stock unit is the economic equivalent of one share of RTC common stock. The reported SRP stock units were acquired under legacy UTC's Savings Restoration Plan, an excess benefit plan, and are to be settled upon the reporting person's retirement or other termination of service. |
| (5) | In February 2019, the reporting person was also awarded 1,880 performance share units (PSUs) under the legacy UTC Long-Term Incentive Plan. Each PSU has a value equal to one share of RTC Common Stock. These PSUs vest solely upon achievement of pre-established performance targets for RTC's return on invested capital, earnings per share growth and total shareholder return relative to the S&P 500 index over a three-year time period.
The amount of securities reported on this Form 3 do not reflect the Separation-related equitable adjustment to equity awards held by the reporting person and this Form 3 will be amended in a subsequent filing to reflect such adjustment. |
| (6) | In January 2018, the reporting person was also awarded 1,580 performance share units (PSUs) under the legacy UTC Long-Term Incentive Plan. Each PSU has a value equal to one share of RTC Common Stock. These PSUs vest solely upon achievement of pre-established performance targets for RTC's return on invested capital, earnings per share growth and total shareholder return relative to the S&P 500 index over a three-year time period.
The amount of securities reported on this Form 3 do not reflect the Separation-related equitable adjustment to equity awards held by the reporting person and this Form 3 will be amended in a subsequent filing to reflect such adjustment. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Balsbough Douglas
870 WINTER STREET
WALTHAM, MA 02451 |
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| EVP & Chief HR Officer |
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Signatures
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| /s/ Dana Ng as Attorney-In-Fact | | 4/13/2020 |
| **Signature of Reporting Person | Date |
United Technologies (NYSE:UTX)
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