Company: BA
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049921
Chunk: 39

Company: BOEING CO
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 39
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 the January 2024 door plug accident. These discussions began before, and in anticipation of, designing the 2024 executive compensation program, and continued after the 2024 annual meeting. Our independent Board Chair participated in most of these engagements, often with the Chair of this Committee, and executive compensation was featured as a key topic for discussion and feedback. In response to shareholder input on the criticality of using our incentive pay structure to drive safety and quality performance and holding leaders accountable for that performance, we modified our 2024 incentive programs to heighten focus on safety and quality metrics. We also reduced the value of long-term incentive awards granted to our named executive officers by 22% from targets, reflecting the decline in our share price between the accident and the award grant date. These actions, described in more detail starting on page 48, demonstrate our unwavering commitment to building and maintaining a production system to the highest standards of safety and quality, and holding our leaders accountable when our performance falls short.   Looking ahead, as we restructure our leadership team, we believe it is positioned and incentivized to deliver long-term and sustainable growth, grounded in our commitment to safety and quality, for our shareholders.   We are confident that our leadership team, under the helm of the Company’s new President and Chief Executive Officer, Kelly Ortberg, is well-positioned to move us forward. Since joining the Company in August 2024, Mr. Ortberg has continuously reinforced the importance of an enterprise-wide culture of excellence, accountability and commitment to safety, quality and our other core values as we work to restore Boeing to the company we know it can be. We are continuing to adjust our leadership structure to best leverage the skills and experience of our executive team and are adding new talent where necessary or appropriate. Our functional and business unit leaders are working collaboratively with the Board, our regulators and other stakeholders to implement strategic changes to enable long-term sustainable growth for our shareholders. Our executive compensation program for 2025, developed following extensive engagement with shareholders throughout 2024 and described starting on page 47, has been designed to incentivize long-term growth for our shareholders, grounded in a production system and a decision-making framework that reflect our commitment to safety and quality.   Thank you for taking the time to read this disclosure. We are confident that our executive compensation program is aligned with the long-term interests of our shareholders by ensuring that pay is contingent upon sustainable performance, and we are committed to bolstering that alignment as we navigate the challenges ahead. We