Frank Calvelli
Assistant Secretary of the Air Force for Space Acquisition and Integration
Estimated Net Worth
  • estimated net worth
    $129 K - $511 K
Salary
  • salary
    Unknown
Employment
  • Started 04/28/2022

Financial Disclosure Details - OGE Form 278e (10/20/2021)

Positions Held Outside United States Government

#
Organization
City
Position
To
1
Dulles, Virginia
Director of Operations Analysis, Modeling and Simulation
7/2021
2
Chantilly, Virginia
Senior Vice President
Present

Employment Assets & Income and Retirement Accounts

#
Description
Value
Income Type
Income Amount
1
Raytheon Technologies (salary)
Salary
$189,000
2
Booz Allen Hamilton, stock options (value not readily ascertainable): 3307 shares/options granted 7/30/21; Expire 7/30/31. Strike Price=$85.81. Vesting Schedule: 661 vest 7/31/22; 661 vest 7/31/23; 661 vest 7/31/24: 661 vest 7/31/25; and 663 vest 7/31/26.
None (or less than $201)
3
Booz Allen Hamilton, restricted stock units (value not readily ascertainable) (2 grants 640 and 1166). Both granted on 7/30/21. 640 Vesting Schedule: 213 vest 3/31/22; 213 vest 3/31/23; and 214 vest 3/31/24. 1166 Vesting Schedule: 388 vest 7/31/22; 388 vest 7/31/23; and 390 vest 7/31/24.
None (or less than $201)
4
Booz Allen Hamilton (salary/sign on bonus)
Salary and Sign on bonus
$310,707
5
Raytheon Technologies 401K (plan adminstered by Fidelity Investments. Investments managed and selected by Edelman Financial Engines based upon selected risk profile)
5.1
Northern Trust Collective Aggregate Bond Index Fund - Non-Lending (Tier R)
$1,001 - $15,000
None (or less than $201)
5.2
Northern Trust Collective All Country World Index (ACWI) ex-US Fund - DC - Non-Lending - Tier R
$1,001 - $15,000
None (or less than $201)
5.3
Growth Oriented Allocation Index Fund (managed by Northern Trust)
$1,001 - $15,000
None (or less than $201)
5.4
Northern Trust Collective S&P 500 Index Fund - DC-Non Lending Tier R
$1,001 - $15,000
None (or less than $201)
5.5
Income Oriented Allocation Index Fund (managed by Northern Trust)
$1,001 - $15,000
None (or less than $201)

Employment Agreements and Arrangements

#
Employer Or Party
City
Status And Terms
Date
1
Chantilly, Virginia
I will forfeit my unvested stock options upon my separation. In the event that any of my stock options should vest prior to confirmation, then I will divest my stock options and any stock in Booz Allen within 90 days after my confirmation.
7/2021
2
Chantilly, Virginia
I will forfeit my unvested restricted stock units upon my separation. In the event that any of my restricted stock units should vest prior to confirmation, then I will divest any stock in Booz Allen within 90 days after my confirmation. Pursuant to company policy, when the restricted stock units vest they pay out in either cash or common stock.
7/2021
3
Chantilly, Virginia
I will forfeit my unvested performance stock units upon my separation.
7/2021
4
Dulles, Virginia
I will no longer participate in this defined contribution plan. On 11/9/21 I rolled over the entire contents of this account into IRAs, which hold only cash and diversified mutual funds.
1/2021
5
Chantilly, Virginia
I have an unfunded deferred compensation plan account established to hold any future bonuses I might receive. I am not currently entitled to and will not be eligible for such bonuses until Summer 2022. I will close the account upon my separation.
8/2021
6
Chantilly, Virginia
If I depart from the company before July 26, 2022 I will be required to re-pay my sign-on bonus. Income amount includes sign-on bonus plus salary for 2021.
7/2021

Sources of Compensation Exceeding $5,000 in a Year

#
Source
City
Duties
1
Dulles, Virginia
4 Jan 21 - 9 Jul 21 - Director Operations Analysis/Modeling Simulation - responsible for overseeing small team matrixed out to other parts of the organization doing operations analysis and modeling and simulation support for non-space related programs. Resigned from Raytheon 7/9/21.
2
Chantilly, Virginia
26 Jul 21 - Present - Senior Vice President within National Securities Group. Currently no direct reports or clients. Providing advice and support across a variety of efforts supporting the Intelligence Community.

Spouse's Employment Assets & Income and Retirement Accounts

#
Description
Value
Type
Amount
1
SAIC (left company June 2021 to rejoin Federal Government)
salary
2
SAIC Restricted Stock Unit Award
None (or less than $1,001)
Other
$1,679
3
SAIC 401K administered by Vanguard
3.1
Vanguard Target Retirement 2025 Trust Plus
$1,001 - $15,000
None (or less than $201)
3.2
Vanguard FTSE All-World ex US Index Fund (VFWPX)
$1,001 - $15,000
None (or less than $201)
3.3
Vanguard Institutional 500 Index Trust
$1,001 - $15,000
None (or less than $201)
3.4
Vanguard Institutional Extended Market Index Trust
$1,001 - $15,000
None (or less than $201)
3.5
Vanguard Institutional Total Bond Market Index Trust
$1,001 - $15,000
None (or less than $201)
4
Northrop Grumman Pension Plan, defined benefit plan
$15,001 - $50,000
None (or less than $201)

Other Assets and Income

#
Description
Value
Type
Amount
1
IBM Stock
$1,001 - $15,000
None (or less than $201)
2
U.S. Credit Union (cash)
$100,001 - $250,000
Interest
$201 - $1,000
3
U.S. bank (cash)
$1,001 - $15,000
None (or less than $201)

Transactions

#
Description
Type
Date
Amount
Nothing reported in this section

Liabilities

#
Creditor
Amount
Incurred
Term
1
Northwest Federal Credit Union
$250,001 - $500,000
2016
30 years

Gifts and Travel Reimbursements

#
Source Name
City
Description
Value
Nothing reported in this section

Endnotes

Section
#
Description
1
1
I worked at Raytheon from 1/4/21 to 7/9/21. I did receive a hiring bonus which I paid back in full upon my resignation. Any stock that was granted to me was not vested and forfeited upon my resignation. Only thing I received from Raytheon was salary for those six months of work.
2
4
Sign on bonus of $148,588 repaid to company in December 2021.
2
5
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments.
2
5.1
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Northern Trust Collective Aggregate Bond Index Fund.
2
5.2
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Northern Trust Collective All Country World Index.
2
5.3
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Northern Trust Growth Oriented Allocation Index Fund.
2
5.4
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Northern Trust Collective S&P 500 Index Fund.
2
5.5
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Northern Trust Income Oriented Allocation Index Fund.
2
5.6
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Raytheon Fixed Income Fund.
2
5.7
I no longer have any funds in a Raytheon sponsored 401K account. On 11/9/21 I rolled over the entire contents of this Raytheon 401K account into my own newly opened Individual Retirement Accounts (IRAs) at Fidelity Investments. I no longer have any funds in Vanguard Real Estate Index Fund Institutional Shares.

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