Boeing Co.(BA: Quote), in a proxy filing, reported that its Chairman, President and Chief Executive Officer James McNerney's compensation for 2011 increased 16% to $22.96 million from $19.74 million a year earlier.
McNerney's 2011 compensation included a base salary of $1.93 million, stock awards of $3.42 million, option awards of $3.42 million, non-Equity incentive plan compensation of $8.70 million and all other compensation totaling $0.93 million.
Boeing CEO's fiscal 2010 compensation comprised base salary of $1.93 million, stock awards of $3.30 million, option awards of $3.30 million, non-equity incentive plan compensation of $4.43 million and all other compensation of $0.79 million.
In 2011, McNerney's target annual incentive payout remained at 170% of base salary with a maximum potential payout of 230% of base salary. McNerney received an annual incentive payout of about $4.4 million for 2011. In addition, Mr. McNerney received a 2009-2011 performance award of $4.26 million or 68% of the target set at the beginning of the performance period in 2009. In 2011, the Compensation Committee increased McNerney's aggregate target awards under its long-term incentive program to 590.7% of base salary. McNerney's aggregate long-term incentive target awards were 650% of base salary in 2009 and 570% of base salary in 2010.
The airlines company reported that its Executive V.P., Corporate President and Chief Financial Officer James Bell's compensation also increased to $7.07 million from $5.39 million from last year.
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by RTT Staff Writer
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