Form 4: Boeing Controller Michael J. Cleary Reports Stock Transaction

Boeing's Controller, Michael J. Cleary, reported a transaction involving the withholding of shares for tax purposes and holdings in company savings plans.

Summary

• Michael J. Cleary, a Controller at Boeing, filed a Form 4 detailing changes in his beneficial ownership of company stock.
• The filing indicates that 129.13 shares were withheld for FICA tax purposes related to a retirement-eligible executive, at a price of $158.025 per share.
• Cleary also has indirect ownership of 519.74 shares through the company's 401(k) plan and 3,474.216 shares through the Executive Supplemental Savings Plan.
• These holdings are represented by units in the respective common stock funds, not as direct shares.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to executive stock transactions and is common for publicly traded companies like Boeing.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, such as Boeing, and are required by the SEC to ensure transparency in insider trading.
• Similar filings are made by executives at other aerospace and defense companies like Lockheed Martin (LMT) and General Dynamics (GD) when they have transactions involving company stock.
• The withholding of shares for tax purposes is a common practice for executives receiving stock-based compensation.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding and does not represent a significant change in ownership.

Key Dates

Keywords

Boeing, stock transaction, Form 4, beneficial ownership, FICA tax, 401(k), Executive Supplemental Savings Plan, Michael J. Cleary, Controller