An internal review at Boeing Co (NYSE:BA) revealed that Chief Executive David Calhoun and other top executives took personal trips exceeding $500,000 on the company's private jets, misclassified as business travel.
Following a review commenced by the company in 2023, the company found certain items, primarily aircraft and ground transportation costs, for certain executives during 2022 and 2021 that were not previously classified as perquisites but should have been classified as such in accordance with SEC rules and guidance.
The review and correction, which Boeing disclosed in a securities filing, was prompted by a Wall Street Journal Full story available on Benzinga.com