Form 4: Boeing Director John M. Richardson Reports Acquisition of Phantom Stock Units

Director John M. Richardson reports acquiring phantom stock units convertible to Boeing common stock in lieu of director cash compensation.

Summary

• On April 1, 2025, Boeing director John M. Richardson acquired 298.335 phantom stock units.
• These units are convertible into Boeing common stock on a 1-for-1 basis.
• The acquisition was made in lieu of director cash compensation under The Deferred Compensation Plan for Directors of The Boeing Company.
• The phantom stock units will be distributed as shares of common stock after Richardson's termination of services as a director.
• Following the transaction, Richardson directly owns 5,961.827 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral event with a slightly positive implication for corporate governance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of Boeing.
• The Deferred Compensation Plan for Directors allows for tax-efficient compensation.

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 among publicly traded companies to align management's interests with shareholder value.

Comparison to Industry Standards

• Many companies, such as Lockheed Martin (LMT) and General Dynamics (GD), use similar deferred compensation plans for their directors.
• These plans often involve granting stock options or restricted stock units that vest over time or upon retirement.
• The specific terms of these plans, such as the vesting schedule and the form of payment, can vary depending on the company's compensation philosophy and tax considerations.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning management's interests with the company's long-term success.

Key Dates

Keywords

Boeing, Director, Phantom Stock Units, Compensation, Form 4, Richardson, Deferred Compensation Plan