X0202 4 2007-03-15 0001047122 RAYTHEON CO/ RTN 0001217585 CULLIGAN THOMAS M 870 WINTER STREET WALTHAM MA 02451 0 1 0 0 Senior Vice President Common Stock 2007-03-15 4 M 0 50000 29.685 A 115334 D Common Stock 2007-03-15 4 M 0 45000 44.45 A 160334 D Common Stock 2007-03-15 4 M 0 30000 31.445 A 190334 D Common Stock 2007-03-15 4 M 0 6500 29.685 A 196834 D Common Stock 2007-03-15 4 M 0 11333 32.315 A 208167 D Common Stock 2007-03-15 4 M 0 12966 29.48 A 221133 D Common Stock 2007-03-15 4 S 0 155799 52.1677 D 65334 D Common Stock 2983 I 401(k) Employee Stock Option 29.685 2007-03-15 4 M 0 10104 0 D 2004-05-23 2011-05-22 Common Stock 10104 0 D Employee Stock Option 29.685 2007-03-15 4 M 0 39896 0 D 2004-05-23 2011-05-23 Common Stock 39896 0 D Employee Stock Option 44.45 2007-03-15 4 M 0 42751 0 D 2005-05-13 2012-05-13 Common Stock 42751 0 D Employee Stock Option 44.45 2007-03-15 4 M 0 2249 0 D 2005-05-13 2012-05-12 Common Stock 2249 0 D Employee Stock Option 31.445 2007-03-15 4 M 0 26820 0 D 2006-05-14 2013-05-14 Common Stock 26820 0 D Employee Stock Option 31.445 2007-03-15 4 M 0 3180 0 D 2006-05-14 2013-05-13 Common Stock 3180 0 D Performance Stock Option 29.685 2007-03-15 4 M 0 6500 0 D 2002-02-22 2011-05-23 Common Stock 6500 13000 D Performance Stock Option 32.315 2007-03-15 4 M 0 11333 0 D 2002-05-16 2012-01-23 Common Stock 11333 22667 D Performance Stock Option 29.48 2007-03-15 4 M 0 12966 0 D 2004-12-02 2013-01-22 Common Stock 12966 25934 D The Reporting Person indirectly beneficially owns 2,983 shares of the Issuer's Common Stock based on funds in the Reporting Person's Savings and Investment Plan/Excess Savings Plan Account divided by $52.64, the closing price of the Issuer's Common Stock on March 15, 2007. The options became exercisable in three annual installments beginning on May 23, 2002. The options became exercisable in three annual installments beginning on May 13, 2003. The options became exercisable in three annual installments beginning on May 14, 2004. The options become exercisable in three equal installments. The first installment became exercisable on February 22, 2002, upon the Issuer's Common Stock sustaining (for a period of twenty (20) consecutive trading days) a market price of at least $34.14 per share; the second installment became exercisable on May 16, 2002, upon the Issuer's Common Stock sustaining a market price of at least $39.26 per share; and the third installment became exercisable on September 11, 2006, upon the Issuer's Common Stock sustaining a market price of at least $45.15 per share. The options become exercisable in three equal installments. The first installment became exercisable on May 16, 2002, upon the Issuer's Common Stock sustaining (for a period of twenty (20) consecutive trading days) a market price of at least $39.10 per share; the second installment became exercisable on May 17, 2006, upon the Issuer's Common Stock sustaining a market price of at least $44.965 per share; and the third installment became exercisable on January 3, 2007, upon the Issuer's Common Stock sustaining a market price of at least $51.71 per share. The options become exercisable in three equal installments. The first installment became exercisable on December 2, 2004, upon the Issuer's Common Stock sustaining (for a period of twenty (20) trading days) a market price of at least $36.85 per share; the second installment became exercisable on September 13, 2006, upon the Issuer's Common Stock sustaining a market price of at least $46.063 per share; and the third installment becomes exercisable upon the date that the Issuer's Common Stock sustains a market price of at least $57.578 per share. Notwithstanding the foregoing vesting schedule, all shares under option shall become exercisable upon the sixth anniversary of the grant date. Jay B. Stephens, Attorney-in-fact 2007-03-19