(Bloomberg) -- Boeing Co. Chief Executive Officer Dave Calhoun hasn’t pocketed any of a controversial $7 million signing bonus, even though the planemaker reached a key goal: returning the 737 Max to service in much of the world.

The company’s directors chose not to give Calhoun the first half of the incentive when he became eligible last month, according to a regulatory filing Friday. That’s because Boeing is still a long way from reaching other targets, like flying the Starliner spacecraft to orbit with people on board and certifying the twin-aisle 777X, which is three years behind schedule.

If the goals aren’t “substantially achieved” by the end of 2023, Calhoun will forfeit the grant. It was awarded when he joined the company as CEO in early 2020, as Boeing reeled from the grounding of its Max after two fatal crashes, and sparked criticism in Congress. 

Even without the perk, he collected a total compensation package of $21.1 million last year. The Chicago-based company also bumped up his bonus by $860,000 to $3.4 million in reward for “inculcating robust safety and quality management systems.”

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