Summary
This 8-K filing from Boeing Company (BA) on October 29, 2009, primarily addresses a modification to a restricted stock unit (RSU) grant for James A. Bell, Executive Vice President, Corporate President and Chief Financial Officer. The Compensation Committee of the Board of Directors approved an amendment to his June 22, 2009 RSU award. This amendment reduces the number of RSUs to 42,000 and alters the vesting schedule. The Amended Award, effective October 26, 2009, will vest 100% and settle in common stock on December 31, 2011. This adjustment is made under the company's 2003 Incentive Stock Plan. Investors should note that while the RSUs are a form of compensation, the reduction and revised vesting schedule are specific to this officer's award and do not appear to indicate broader company financial issues in this particular filing.
Key Highlights
- 1Amendment to restricted stock unit (RSU) grant for CFO James A. Bell approved by the Compensation Committee.
- 2The original RSU grant was made effective June 22, 2009.
- 3The Amended Award reduces the total number of RSUs to 42,000.
- 4The vesting date for the original award has been changed.
- 5The Amended Award is effective October 26, 2009.
- 6The Amended Award vests 100% on December 31, 2011, settling in common stock on a one-for-one basis.
- 7The RSU award is made under Boeing's 2003 Incentive Stock Plan.