Company: BA
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049921
Chunk: 42

Company: BOEING CO
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 42
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 independent Board Chair and the Compensation Committee Chair participated in many engagements with shareholders leading up to and following our 2024 annual meeting, to provide the Board’s perspective and to hear directly from shareholders. Engagement Following the January 2024 Door Plug Accident We conducted outreach following the door plug accident to our top shareholders to discuss the Board’s immediate response to the accident and seek feedback on our executive compensation program design and proposed changes for 2024. Larry Kellner, our then-serving independent Board Chair, and David Joyce, Aerospace Safety Committee Chair, participated in all such meetings. We heard from several shareholders regarding the importance of using our incentive pay structure to drive safety and quality performance and hold leaders accountable for that performance. In response to this specific feedback received in early 2024, we made significant changes focused on safety and quality to our annual incentive plan and long-term incentive program for the year, as outlined below.

| Responsive Changes to our 2024 Annual Incentive Plan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| •   Operational component exclusively focused on safety and quality performance. In 2024, our annual incentive plan continued to feature a weighted operational performance component. However, in a change from prior years, we focused this component entirely on safety and quality metrics, including reduction of rework and traveled work, completion of 787 join verification rework, reduction in employee injury rates and delivery of 737 MAX inventory built prior to 2023. Outcomes under our annual incentive plan metrics are described on page 59.   •   Increased weighting of safety and quality performance to 60% of overall score for our Commercial Airplanes business. For 2024, the incentive score for our Commercial Airplanes business was based 60% on performance in safety and quality metrics and 40% on financial performance, as compared to 75% and 25% weightings, respectively, in 2023. |

| 2025 Proxy Statement |     | 47 |

COMPENSATION DISCUSSION AND ANALYSIS

| Responsive Changes to our 2024-2026 Long-Term Incentive Program                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| •   Incorporated critical 2024 product safety milestones into design of performance restricted stock units for executive officers. Our long-term incentive awards to executive officers for the 2024-2026 performance period were granted 55% in the form of performance