Form 8-K





Washington, DC 20549







Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (date of earliest event reported)

May 17, 2011




(Exact name of registrant as specified in its charter)




Delaware   1-16411   80-0640469

(State or other jurisdiction

of incorporation)



File Number)


(IRS Employer

Identification No.)


1840 Century Park East, Los Angeles, CA   90067
(Address of principal executive offices)   (Zip Code)

(310) 553-6262

Registrant’s telephone number, including area code

(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Compensatory Arrangements of Certain Officers

On May 18, 2011, Northrop Grumman Corporation (the Company) held its annual meeting of shareholders at which the shareholders approved the Company’s 2011 Long Term Incentive Stock Plan (“2011 LTISP”), which was effective upon shareholder approval. The 2011 LTISP is described under Proposal 3 and filed as Exhibit A in the Company’s Definitive Proxy Statement on Schedule 14A for the 2011 Annual Meeting of Shareholders, which was filed with the Securities and Exchange Commission on April 8, 2011. The description of the 2011 LTISP is incorporated into this Item 5.02 by reference.

On May 17, 2011, the Compensation Committee of the Board of Directors of the Company took the following actions:



Approved an amendment to the terms and conditions of future stock option awards to provide that if an optionee reaches the Company’s mandatory retirement age of 65, the unvested portions of any outstanding stock option grants will continue to vest.



Approved bonuses for certain employees, including elected officers, for their significant contributions to the successful spin-off of the Company’s shipbuilding business. James F. Palmer, Corporate Vice President and Chief Financial Officer, and Sheila C. Cheston, Corporate Vice President and General Counsel, each received $250,000 for their contributions.


Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On May 18, 2011, the Board of Directors of the Company approved an amendment to its Restated Bylaws to replace the name “New P, Inc.” with the name “Northrop Grumman Corporation” in the title and in Article 1, Section 1.01, of the Restated Bylaws, effective March 30, 2011. A copy of the Restated Bylaws, as amended, is filed as Exhibit 3.1 to this Report.


Items 5.07. Submission of Matters to a Vote of Security Holders.

At the Company’s Annual Meeting of Shareholders held on May 18, 2011, shareholders considered and approved Management’s five proposals, each of which is described in more detail in the Proxy Statement.

The results detailed below represent the final voting results as certified by the Inspector of Election:

Management’s Proposals

Proposal 1

The shareholders elected the following eleven directors to hold office until the 2012 Annual Meeting of Shareholders: Wesley G. Bush, Lewis W. Coleman, Victor H. Fazio, Donald E. Felsinger, Stephen E. Frank, Bruce S. Gordon, Madeleine A. Kleiner, Karl J. Krapek, Richard B. Myers, Aulana L. Peters and Kevin W. Sharer.


   For      Against      Abstain      Broker Non-Vote  

Wesley G. Bush

     233,839,887         2,091,542         693,978         21,297,979   

Lewis W. Coleman

     206,289,053         29,228,599         1,107,756         21,297,979   

Victor H. Fazio

     213,147,242         22,328,323         1,149,842         21,297,979   

Donald E. Felsinger

     203,827,778         31,672,759         1,124,870         21,297,979   

Stephen E. Frank

     192,009,856         43,556,653         1,058,899         21,297,979   

Bruce S. Gordon

     206,361,866         29,087,507         1,176,033         21,297,979   

Madeleine A. Kleiner

     232,005,062         3,585,502         1,034,844         21,297,979   

Karl J. Krapek

     206,359,237         29,120,739         1,145,432         21,297,979   

Richard B. Myers

     206,248,960         29,284,338         1,091,842         21,297,979   

Aulana L. Peters

     209,474,142         25,970,535         1,178,247         21,297,979   

Kevin W. Sharer

     229,495,193         5,919,559         1,210,388         21,297,979   

Proposal 2

The appointment of Deloitte & Touche LLP as the Company’s independent auditor for fiscal year ending December 31, 2011 was ratified with a vote of 253,220,877 shares for, 4,041,087 shares against, and 661,424 abstentions.

Proposal 3

Approval of the Company’s 2011 Long Term Incentive Plan:








Broker Non-Vote


   54,977,767    1,168,117    21,298,129

Proposal 4

Advisory vote on the Compensation of the Company’s named executive officers:








Broker Non-Vote


   52,071,255    16,043,596    21,297,979

Proposal 5

Advisory vote on the preferred frequency of future advisory votes on compensation of the Company’s named executive officers:


1 Yr


2 Yrs


3 Yrs




Broker Non-Vote


   1,758,958    45,436,295    1,451,894    21,297,979

In addition, the Company has decided, consistent with the Board’s recommendation and the vote of shareholders, to submit a separate resolution on the compensation of executives to shareholders for an advisory vote annually in its proxy materials until the next required vote on the frequency of shareholder votes on the compensation of executives (which would be at the 2017 Annual Meeting of Shareholders unless presented earlier).

Shareholder Proposals

Proposal 6

Shareholder proposal regarding cumulative voting:








Broker Non-Vote


   150,865,604    2,785,211    21,297,979

Proposal 7

Stockholder proposal regarding additional disclosure of political contributions:








Broker Non-Vote


   130,508,722    25,880,413    21,299,263

Proposal 8

Shareholder proposal regarding shareholder action by written consent:








Broker Non-Vote


   107,267,107    2,178,924    21,297,979

The Chairman of the Board of Directors noted that the Board of Directors will carefully consider the inputs of the shareholders.

(d) Exhibits

Exhibit 3.1    Restated Bylaws of Northrop Grumman Corporation, as amended March 30, 2011


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.





May 23, 2011



/s/ Jennifer C. McGarey


Jennifer C. McGarey

Corporate Vice President and Secretary