SEC Form 4 · accession 0001231205-15-000088
GENERAL ELECTRIC CO · GE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Keith S Sherin
Officer — Vice Chairman
Period of report
Nov 20, 2015
Accepted (ET)
Nov 23, 2015 · 4:12 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000040545
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Nov 20, 2015 | J | 1,564 | — | D | 40,929 | I | by family |
| Common StockF1,F2,F3 | Nov 20, 2015 | J | 11,576 | — | D | 118,181 | I | by family trust |
| Common StockF1,F2,F3 | Nov 20, 2015 | J | 16,367 | — | D | 35,945 | I | by grantor retained annuity |
| Common Stock | holding | — | — | — | 10,100 | D | ||
| Common Stock | holding | — | — | — | 62,127 | I | by trust | |
| Common Stock | holding | — | — | — | 43,279 | I | 401(k) |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1General Electric Company commenced an exchange offer on October 19, 2015 to exchange General Electric Company common stock, par value $0.06 per share for Synchrony Financial common stock, par value $0.001 per share. Any holder of General Electric Company common stock during the exchange offer period could participate in the exchange offer, subject to certain restrictions in foreign jurisdictions. On November 16, 2015, General Electric Company's Board of Director's Management Development and Compensation Committee approved Mr. Sherin's tender of 93,312 shares of General Electric Company common stock pursuant to the exchange offer.
- F2Because the exchange offer was oversubscribed, General Electric Company accepted only a portion of the shares of General Electric Company common stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Shareholders who owned less than 100 shares of General Electric Company common stock, or an "odd-lot", who validly tendered all of their shares, could elect not to be subject to proration, in accordance with the terms of the exchange offer.
- F3The final proration factor of 31.2870888% was established on November 20, 2015, and applied to all tendered shares of General Electric Company common stock (other than "odd-lot" tenders) to determine the number of such shares that would be accepted. As a result, 29,507 shares of Mr. Sherin's General Electric Company common stock were accepted in the exchange offer.