TransDigm’s ‘Staggering’ Board Pay Draws Shareholder Challenge

A TransDigm Group Inc. investor filed suit in Delaware to challenge “demonstrably excessive” pay packages for members of its board and management, including a “staggering” $68 million in 2020 compensation for its executive chairman and an “astounding” $22 million for its CEO.

The derivative lawsuit, made public Thursday, accuses the aerospace manufacturer’s compensation committee of approving “lavish” pay for the two senior leaders as “part of an express or implied quid pro quo” to buy their approval for the committee’s choice to “grossly” overpay itself.

Though median compensation for other board members was a less stratospheric $785,000, that figure is ...