Berkshire’s Retirement Gift for CFO: 30 NetJets Hours Per Year

Berkshire Hathaway Inc.’s outgoing Chief Financial Officer Marc Hamburg is getting an unusual perk for his retirement days: free flights on the conglomerate’s jets.

Hamburg will be granted as many as 30 hours of flights a year on mid-sized jets operated by Berkshire-owned NetJets Inc. through May 2037, the company said in a regulatory filing Thursday. The benefit, which is transferable to Hamburg’s spouse if he dies before her, is estimated to cost Berkshire about $490,000 per year.

Hamburg is stepping down from the role in June and will be replaced by Charles Chang. Following a one-year transition ...