SEC Form 4 · accession 0001225208-15-003591
RTX Corp · RTX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David L. Gitlin
Officer — Pres., UTC Aerospace Systems
Period of report
Feb 9, 2015
Accepted (ET)
Feb 11, 2015 · 5:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000101829
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 9, 2015 | A | 4,239 | $119.32 | A | 6,669 | D | |
| Common Stock | Feb 9, 2015 | F | 1,423 | $119.32 | D | 5,246 | D | |
| Common Stock | holding | — | — | — | 2,346 | I | By Savings Plan Trustee |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightF2 | $74.79 | Feb 9, 2015 | A | 37,467 | A | Feb 9, 2015 | Jul 31, 2022 | Common Stock | 37,467 | 37,467 | D |
Explanation of responses
- F1The acquisition of shares of UTC common stock represents the vesting of performance share units (PSUs) previously awarded on January 3, 2012 to the reporting person under the United Technologies Corporation Long-Term Incentive Plan. Each PSU has a value equal to one share of UTC common stock. The PSUs vested solely upon achievement of pre-established performance targets for UTC's earnings per share and total shareholder return over a three-year performance period.
- F2On August 1, 2012, the reporting person was granted 75,690 performance stock appreciation rights, 50% of which became exercisable on February 9, 2015 and 50% of which may become exercisable December 31, 2016, in each case subject to and following confirmation of achievement of pre-established business unit earnings, sales and other financial targets. The grant of 75,690 performance stock appreciation rights was incorrectly reported on a Form 3 filed on January 26, 2015 (performance-based stock appreciation rights not tied to the market price of the issuer's stock need not be reported until vesting upon achievement of performance conditions). The performance criteria were satisfied at the 99% level for the first 50% of the grant, resulting in the vesting of 37,467 stock appreciation rights and the cancellation of 378 stock appreciation rights, both as of February 9, 2015.