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

Boeing director David Leon Joyce acquired phantom stock units convertible to common stock in lieu of director cash compensation on January 2, 2025.

Summary

• On January 2, 2025, David Leon Joyce, a director of Boeing Co, acquired 551.56 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 Joyce's termination of services as a director, according to The Deferred Compensation Plan for Directors of The Boeing Company.
• Following the transaction, Joyce directly owns 7,223.37 shares of Boeing common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns director and shareholder interests.

Positives

• The acquisition of phantom stock units by a director can be seen as a positive sign, aligning the director's interests with those of the shareholders.

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

Directors often receive stock-based compensation to align their interests with shareholders, a common practice in publicly traded companies like Boeing.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice among large publicly traded companies.
• Companies like Lockheed Martin (LMT) and General Dynamics (GD) also utilize stock options and restricted stock units as part of their director compensation packages.
• The specific amount and type of equity compensation can vary based on company size, performance, and industry benchmarks.

Stakeholder Impact

• The acquisition of phantom stock units by a director aligns their interests with shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates