Company: NOC
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001133421-25-000016
Chunk: 43

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 43
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0% - 200%          |     | 148 | %                  | $                | 1,147,000 |
| David F. Keffer     |     | 105 | %                      |     | 0% - 200%          |     | 148 | %                  | $                | 1,094,016 |

(1) Actual bonus payouts for 2024 performance are disclosed in this table and in the Summary Compensation Table.

(2) Mr. Crews was elected Corporate Vice President and Chief Financial Officer effective October 1, 2024. His target and actual payout under the AIP are prorated to reflect time served as an elected and appointed officer at the Corporate Office and as an appointed officer at the Space Systems Sector. The AIP metrics are enterprise-wide and measured at both the Company and Sector level.

Long-Term Incentive Compensation

In 2024, the Compensation and Human Capital Committee granted awards in the form of Restricted Performance Stock Rights (RPSRs) and Restricted Stock Rights (RSRs). The awards were comprised of 70% RPSRs and 30% RSRs. The Compensation and Human Capital Committee determined this long-term incentive mix would appropriately motivate and reward the NEOs to achieve our long-term objectives and further reinforce the link between their interests and the interests of our shareholders.

| Restricted Performance Stock Rights (RPSRs)                                                                                                                                                                                                                    
 The RPSRs ensure sustainability and achievement of business goals over time. The RPSRs will vest and be distributed following the completion of the three-year performance period (commencing January 1, 2024, and ending December 31, 2026) if goals are met. |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Restricted Stock Rights (RSRs)                                                                                                                                                                                                                                 
 The RSRs provide retentive value and generally vest 100% after three years.                                                                                                                                                                                    |

Earned RPSRs and RSRs may be paid in shares, cash or a combination of shares and cash at the Compensation and Human Capital Committee’s discretion. An executive generally must remain employed through the vesting period to earn an award. Vesting for termination due to death, disability, retirement or change in control is discussed in the “Termination Payments and Benefits” section on page 79. Dividend equivalents accrue on both RPSR and RSR awards earned and will be paid upon distribution of the RPSRs and RSRs. Following the distribution, 50% of all net