SEC Form 4 · accession 0001231205-19-000002
GENERAL ELECTRIC CO · GE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
H Lawrence Culp Jr.
Officer — Chairman and CEO · Director
Period of report
Dec 31, 2018
Accepted (ET)
Jan 3, 2019 · 5:28 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 Stock | holding | — | — | — | 585,800 | I | By holding company | |
| Common Stock | holding | — | — | — | 12,592 | I | By family trusts |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitF1,F2 | — | Dec 31, 2018 | A | 5,000,000 | A | — | — | Common Stock | 5,000,000 | 5,000,000 | D |
Explanation of responses
- F11 for 1
- F2Represents an inducement award of performance stock units ("PSUs"), granted outside the 2007 Long-Term Incentive Plan, to the reporting person in connection with his appointment as Chairman and CEO. Subject to continued employment conditions and accelerated vesting in certain circumstances, the PSUs will vest, if at all, based upon meeting the following stock performance conditions for 30 consecutive trading days during the four-year performance period from October 1, 2018 to September 30, 2022: half of the PSUs will be eligible to vest upon achieving a stock price of $18.60 (the "threshold target"), all of the PSUs will be eligible to vest upon achieving a stock price of $24.80, and an additional 2.5 million PSUs will be eligible to vest upon achieving a stock price of $31.00 (the "maximum target"). No PSUs will be granted below the threshold target, and the amount of PSUs granted between the threshold target and maximum target will be determined by linear interpolation.