Raytheon Co. President William Swanson, who will become Chief Executive
July 1, has more than tripled his stake in the defense contractor.
Swanson bought 130,000 Raytheon shares two days ago, bringing
his holdings to 186,326 from 56,326, the company said in a
regulatory filing. The purchase was worth $3.94 million using the
closing price that day, with the total value of his holdings $5.65
million. Raytheon spokesman Jim Fetig declined to comment on the
transaction.
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Dan Burnham, 56, announced his retirement two days ago at the
company’s annual meeting. Swanson, 54, will be paid $925,000 a
year as chief executive, the company said in a filing yesterday.
He will get 175,000 stock options and 130,000 restricted shares.
Bloomberg News
