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.