L3Harris CFO Michelle Turner to depart; severance package totals ~$3.07M

L3HARRIS TECHNOLOGIES, INC. /DE/

Separation date December 29, 2023; agreement entered December 22, 2023.
Cash payments: $1.6M (salary + bonus), $951,200 in lieu of 2023 annual incentive, $500K for transitional assistance, $18K outplacement.
Equity awards treated as involuntary separation; COBRA coverage for 12 months at active rates.
Agreement includes one-year non-compete, non-solicit, and confidentiality covenants.

item 5.02 item 9.01

Executive movements

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Departed

Michelle L. Turner

Chief Financial Officer

LHX · L3HARRIS TECHNOLOGIES, INC. /DE/

Effective: 2023-12-29
Filed: December 29, 2023, 6:59 PM ET

On December 22, 2023, L3Harris Technologies, Inc. ("L3Harris") entered into a Release of All Claims Agreement (the "Agreement") with Michelle L. Turner, which was approved by the Compensation Committee of L3Harris' Board of Directors.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.9

Michelle L. Turner departed as Chief Financial Officer at L3HARRIS TECHNOLOGIES, INC. /DE/.

Action: separated
Role: Chief Financial Officer

Exact text from the filing

On December 22, 2023, L3Harris Technologies, Inc. ("L3Harris") entered into a Release of All Claims Agreement (the "Agreement") with Michelle L. Turner, which was approved by the Compensation Committee of L3Harris' Board of Directors.

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L3HARRIS TECHNOLOGIES, INC. /DE/ filing history →

Source: SEC EDGAR

accession 0000202058-23-000071

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