Northrop Grumman's Board of Directors approved a special, one-time grant of performance-based equity to Chair, CEO, and President Kathy J. Warden. The award is intended to recognize her critical leadership and strengthen the alignment of her interests with those of the company's shareholders.
Key Details
- Award: The grant consists of a target of 35,910 Market Stock Units (MSUs).
- Performance Period: The payout is based on the company's absolute stock price performance over a period ending December 31, 2031.
- Payout Structure: The payout can range from 0% (if the stock price depreciates more than 25%) to a maximum of 150% (for appreciation of 50% or more). A target payout requires at least 10% stock price appreciation.
- Vesting Condition: The award is generally subject to Ms. Warden's continued service with the company through the end of the performance period.