$7.6 million in Boeing shares withheld from top execs to pay income taxes

Boeing withheld $7.6 million worth of the jet maker’s shares from its two top executives in December to satisfy income taxes triggered by stock awards to them under their pay packages.

Boeing (NYSE: BA) Chairman and CEO Dennis Muilenburg delivered 30,291 company shares worth $156.085 each. That stock was worth $4.72 million, U.S. Securities and Exchange Commission reports show.

Boeing Vice Chairman Ray Conner delivered 18,537 shares at $156.085 each. That stock was worth $2.89 million, the SEC filings show.

Conner now owns 104,555 Boeing shares, while Muilenburg now owns 118,418 Boeing shares.

Executive compensation and taxes paid by large corporations, their CEOs and other top executives are all closely watched by institutional investors and became a big issue during the recent election.

Read more: St. Louis Business Journal

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