Business Context and Reporting Period
This Form 8-K filing by The Boeing Company (Boeing) was submitted on October 7, 2009. The report details corporate governance changes, specifically the election of a new director and an amendment to the company's By-Laws.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance and administrative updates.
Material Changes
- Board Election: The Board of Directors elected retired Admiral Edmund P. Giambastiani, Jr. to the Board of Directors.
- Committee Assignments: Admiral Giambastiani was appointed to the Audit Committee and the Finance Committee.
- By-Law Amendment: The Board approved an amendment to Article II, Section 1 of the By-Laws to increase the number of directors from ten to eleven.
Guidance, Outlook, and Compensation
Admiral Giambastiani will participate in the Company's nonemployee director compensation program. This includes:
- An annual cash retainer fee of $100,000.
- An annual grant of retainer stock units valued at $130,000.
The filing does not provide management commentary on business outlook, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the effective date of the By-Law amendment increasing the Board size to eleven members.
- Confirm Admiral Giambastiani's specific qualifications and potential conflicts of interest given his service on other boards (Monster Worldwide, SRA International, QinetiQ Group).
- Review the attached press release (Exhibit 99.1) for additional context on the director election.