Form 4: Boeing Director Lynn Good Acquires Phantom Stock Units as Compensation

Boeing Director Lynn Good acquired 423.998 phantom stock units on July 1, 2025, as part of her compensation, increasing her beneficial ownership to 15,731.509 units.

Summary

• Lynn J. Good, a Director of The Boeing Company, was the reporting person for this transaction.
• On July 1, 2025, 423.998 phantom stock units were acquired.
• These phantom stock units were awarded in lieu of director cash compensation.
• Phantom stock units are convertible into common stock on a 1-for-1 basis.
• Following this transaction, Lynn J. Good beneficially owns a total of 15,731.509 phantom stock units.
• The units are distributed as shares of common stock after the reporting person's termination of services as a director, pursuant to The Deferred Compensation Plan for Directors of The Boeing Company.

Sentiment

Score: 7

Explanation: The filing indicates a routine compensation event where a director received equity-based compensation, which is generally viewed as a positive for aligning management and shareholder interests.

Positives

• The acquisition of phantom stock units aligns the director's financial interests with the long-term performance of The Boeing Company's common stock.
• Equity-based compensation for directors is a common practice that promotes shareholder value creation.

Future Outlook

Phantom stock units will be distributed as shares of common stock to Lynn J. Good after her termination of services as a director, as per The Deferred Compensation Plan for Directors of The Boeing Company.

Industry Context

This filing represents a routine insider transaction related to director compensation. The practice of compensating directors with equity, such as phantom stock units, is a standard corporate governance mechanism across various industries, including aerospace and defense, to align director incentives with shareholder interests.

Comparison to Industry Standards

• The use of phantom stock units as a form of director compensation, convertible to common stock upon service termination, is a common practice among large publicly traded companies, including peers in the aerospace and defense sector, as it aligns director incentives with long-term shareholder value.

Corporate Governance

Related Party Transactions

• The acquisition of phantom stock units by Director Lynn J. Good from The Boeing Company constitutes a related party transaction, specifically a compensation award under an established plan.

Stakeholder Impact

• Shareholders: The transaction aligns the director's interests with shareholders by providing equity-based compensation.
• Director: Lynn J. Good receives compensation in the form of equity, which vests upon termination of service.

Next Steps

• Distribution of phantom stock units as shares of common stock to Lynn J. Good upon her termination of services as a director.

Key Dates

Keywords

Boeing, BA, Lynn Good, Director, Phantom Stock Units, Compensation, SEC Form 4, Insider Transaction, Equity Compensation