AP

Boeing’s CEO got compensation worth nearly $33M last year but lost a $3M bonus

Apr 5, 2024, 3:44 PM | Updated: Apr 6, 2024, 4:46 pm

The logo for Boeing appears on a screen above a trading post on the floor of the New York Stock Exc...

The logo for Boeing appears on a screen above a trading post on the floor of the New York Stock Exchange, July 13, 2021. It was reported Boeing's CEO will lose a $3 million bonus (File photo: Richard Drew, AP)

(File photo: Richard Drew, AP)

Boeing CEO David Calhoun received compensation valued at $33 million last year, nearly all of it in stock awards, but his stock payout for this year will be cut by nearly one-fourth because of the drop in Boeing’s share price since the January blowout of a panel on one of its planes in midflight.

The company said Friday that after the accident on the Alaska Airlines Boeing 737 Max, Calhoun declined a bonus for 2023 that was targeted at nearly $3 million.

Calhoun announced this month that he will step down at the end of the year as Boeing deals with multiple investigations into the quality and safety of its manufacturing.

More news: Boeing pays Alaska Airlines $160 million in compensation for blowout of panel during flight

The company said in a regulatory filing that Calhoun got a salary of $1.4 million last year and stock awards valued at $30.2 million. Including other items, his compensation totaled $32.8 million, up from $22.6 million in 2022.

Boeing stock has dropped since Jan. 5, when a door-plug panel blew off an Alaska Airlines Max jetliner flying 16,000 (4,800 meters) feet above Oregon. The Federal Aviation Administration, National Transportation Safety Board and Justice Department have launched separate investigations into the company.

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Boeing’s CEO got compensation worth nearly $33M last year but lost a $3M bonus