Form 4: Boeing Director Bradway Acquires Phantom Stock Units in Lieu of Cash Compensation

Director Robert A. Bradway acquired phantom stock units of Boeing Co. in lieu of cash compensation on April 1, 2024.

Summary

• Robert A. Bradway, a director of Boeing Co., acquired 464.785 phantom stock units on April 1, 2024.
• The acquisition was made in lieu of director cash compensation.
• These phantom stock units are convertible into common stock on a 1-for-1 basis and will be distributed as shares of common stock after Bradway's termination of services as a director, according to The Deferred Compensation Plan for Directors of The Boeing Company.
• Following the transaction, Bradway directly owns 12,113.458 shares of Boeing common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction of stock-based compensation, which is generally viewed as a positive alignment of interests between management and shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.

Future Outlook

The phantom stock units will be distributed as shares of common stock after the reporting person's termination of services as a director.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Directors often receive stock-based compensation to align their interests with shareholders.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice among publicly traded companies, including Boeing's peers in the aerospace and defense industry such as Lockheed Martin (LMT) and General Dynamics (GD).
• The amount and type of equity compensation can vary based on company size, performance, and individual director roles.
• Companies like Boeing use deferred compensation plans to provide long-term incentives for their directors.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates