X0303 4 2011-01-04 0001047122 RAYTHEON CO/ RTN 0001194790 SWANSON WILLIAM H 870 WINTER STREET WALTHAM MA 02451 1 1 0 0 Chairman and CEO Common Stock 2011-01-04 4 M 0 29568 44.45 A 874818 D Common Stock 2011-01-04 4 S 0 29568 47.00 D 845250 D Common Stock 2011-01-05 4 M 0 58183 44.45 A 914654 D Common Stock 2011-01-05 4 S 0 58183 47.0295 D 845250 D Common Stock 2011-01-05 4 M 0 2249 44.45 A 857680 D Common Stock 2011-01-05 4 S 0 2249 47.0507 D 845250 D Employee Stock Option 44.45 2011-01-04 4 M 0 29568 0 D 2005-05-13 2012-05-13 Common Stock 29568 58183 D Employee Stock Option 44.45 2011-01-05 4 M 0 58183 0 D 2005-05-13 2012-05-13 Common Stock 58183 0 D Employee Stock Option 44.45 2011-01-05 4 M 0 2249 0 D 2005-05-13 2012-05-12 Common Stock 2249 0 D The stock option exercises and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 19, 2010. The reported price is based on a weighted average of multiple same-day transactions with prices ranging from $47.00 to $47.08 per share. Full information regarding the number of shares sold at each separate price is available to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer upon request. The reported price is based on a weighted average of multiple same-day transactions with prices ranging from $47.0373 to $47.07 per share. Full information regarding the number of shares sold at each separate price is available to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer upon request. The options became exercisable in three annual installments beginning on May 13, 2003. Dana Ng, Attorney-in-fact 2011-01-06