BOEING CO — Director's Dealing 2007

Jun 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BOEING CO (BA)
CIK: 0000012927
Period of Report: 2007-05-31

Reporting Person: Denson-Low Wanda K (Sr. V.P., Internal Governance)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-31	Common	M	1903.2	—	Acquired	4521.20	Direct
2007-05-31	Common	M	2121.5	—	Acquired	6642.70	Direct
2007-05-31	Common	F	681.2	—	Disposed	5961.50	Direct
2007-05-31	Common	F	891.5	—	Disposed	5070.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-31	2004 Performance Shares	$	M	1903.2	Disposed	2009-02-23	Common (1903.20)	Direct
2007-05-31	2005 Performance Shares	$	M	2121.5	Disposed	2010-02-28	Common (2121.50)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	743.84	Indirect
Common	7135.36	Indirect

Footnotes

F1: Performance shares convert into common stock on a 1-for-1 basis on vesting.

F2: Represents an additional 10% of 2004 Performance Shares awarded to reporting person pursuant to Company reaching the 120% vesting installment.

F3: 2004 Performance Shares vest in the following installments when the average daily closing price of Boeing stock reaches, for a specified period, the following dollar levels: 15% at $60.94, 30% at $65.30, 45% at $69.65, 60% at $74.00, 75% at $78.35, 90% at $82.71, 100% at $87.06, 110% at $91.41, 120% at $95.77, and 125% at $97.94.

F4: 2005 Performance Shares vest in the following installments when the average daily closing price of Boeing stock reaches, for a specified period, the following dollar levels: 15% at $74.49, 30% at $79.82, 45% at $85.14, 60% at $90.46, 75% at $95.78, 90% at $101.10, 100% at $106.42, 110% at $111.74, 120% at $117.06, and 125% at $119.72.