L3harris Technologies (LHX) Proxy filing summary

Executive summary

• Achieved record financial performance in 2025, including record backlog, book-to-bill of 1.3x, expanded margins, and strong adjusted free cash flow, despite a prolonged government shutdown.

• Surpassed cost savings targets a year ahead of schedule and continued to invest in capacity and innovation.

• Board refreshment continued, with two directors retiring and six new directors added since 2022.

• Ongoing, year-round shareholder engagement, with over 300 engagements and 70% of active institutional shares represented.

Voting matters and shareholder proposals

• Four proposals: election of eleven directors, advisory vote on executive compensation, ratification of Ernst & Young LLP as auditor, and a shareholder proposal to lower the threshold for calling special meetings.

• Board recommends voting for all directors, for executive compensation, for auditor ratification, and against the shareholder proposal.

• Shareholder proposal seeks to lower the threshold to 10% for calling special meetings; Board opposes, citing current 25% threshold as market standard and protective against minority abuse.

Board of directors and corporate governance

• Eleven nominees, ten of whom are independent, bring diverse experience in aerospace, defense, finance, technology, and global operations.

• Board is 91% independent, with all committees fully independent.

• Lead Independent Director role is robust, with defined responsibilities and annual review.

• Annual board and committee self-evaluations, director retirement at age 75, and meaningful stock ownership guidelines.