Form 4: Boeing Director David Joyce Reports Acquisition of Phantom Stock Units

Director David Joyce reports acquiring phantom stock units in Boeing, convertible to common stock, as part of deferred compensation.

Summary

• On April 1, 2024, David Joyce, a director of Boeing Co, acquired 504.063 phantom stock units.
• These units were awarded in lieu of director cash compensation and are convertible into common stock on a 1-for-1 basis.
• The phantom stock units will be distributed as shares of common stock after Mr. Joyce's termination of services as a director, according to The Deferred Compensation Plan for Directors of The Boeing Company.
• Following the transaction, Mr. Joyce directly owns 5,524.566 shares of Boeing common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, aligning director interests with shareholder value. There are no indications of negative implications.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of Boeing.
• The deferred compensation plan may incentivize continued service and dedication from the director.

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

Director compensation in the form of stock and phantom stock units is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Many companies, such as Lockheed Martin and General Dynamics, use similar deferred compensation plans for their directors, often involving stock options or restricted stock units.
• The specific number of units awarded and the terms of the deferred compensation plan are likely benchmarked against peer companies to ensure competitive compensation for board members.

Stakeholder Impact

• Shareholders may view the director's acquisition of phantom stock units positively, as it aligns their interests with the company's long-term success.
• The compensation structure could incentivize the director to make decisions that benefit the company and its shareholders.

Key Dates