Summary
This 8-K filing from The Boeing Company, filed on February 26, 2010, primarily discloses a restricted stock unit (RSU) grant made to James F. Albaugh, Executive Vice President, President and Chief Executive Officer of Boeing Commercial Airplanes. The grant consists of 50,000 units of Boeing common stock, effective February 22, 2010, and is intended to recognize Mr. Albaugh's performance and serve as a retention incentive. This RSU award is made under the company's 2003 Incentive Stock Plan and is subject to its terms. The award is fully vested and will settle on the third anniversary of the grant date, with shares issued on a one-for-one basis. Investors should note this compensation event as it relates to key executive incentives and potential future dilution, although the number of shares is relatively small in the context of a large public company.
Key Highlights
- 1Boeing awarded 50,000 restricted stock units (RSUs) to James F. Albaugh, EVP and CEO of Boeing Commercial Airplanes.
- 2The RSU grant was effective on February 22, 2010.
- 3The award serves as recognition for Mr. Albaugh's performance.
- 4The grant is also intended as a retention vehicle for Mr. Albaugh.
- 5The RSUs are granted under the company's 2003 Incentive Stock Plan.
- 6The award will vest 100% and settle in common stock on the third anniversary of the grant date (February 22, 2013).
- 7Shares will be settled on a one-for-one basis.