Summary
This 8-K filing from Boeing Co. (BA) on December 19, 2012, primarily reports on a compensatory arrangement for a key executive. The Compensation Committee of the Board of Directors approved a grant of 60,000 restricted stock units (RSUs) to Dennis A. Muilenburg, Executive Vice President, President and Chief Executive Officer of Boeing Defense, Space & Security. This award, granted on December 17, 2012, is intended to recognize Mr. Muilenburg's performance and serve as a retention incentive. The RSUs will fully vest and settle in shares of Boeing common stock on December 17, 2016, four years from the grant date. The grant was made under the company's 2003 Incentive Stock Plan. Investors should note this action as it relates to executive compensation and potential future share dilution upon vesting.
Key Highlights
- 1Boeing granted 60,000 restricted stock units (RSUs) to Dennis A. Muilenburg.
- 2The RSU grant was approved by the Compensation Committee of the Board of Directors.
- 3The award is intended as recognition for Mr. Muilenburg's performance.
- 4The RSUs also serve as a retention incentive for the executive.
- 5The grant date was December 17, 2012.
- 6Vesting and settlement of the RSUs will occur on December 17, 2016 (four-year vesting period).
- 7The RSUs were granted under the company's 2003 Incentive Stock Plan.