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Director/PDMR Shareholding

4 Jan 2019 07:00

RNS Number : 1760M
General Electric Company
03 January 2019
 

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIPFiled pursuant to Section 16(a) of the Securities Exchange Act of 1934or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:

3235-0287

Estimated average burden

hours per response:

0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person*

CULP H LAWRENCE JR

 

(Last)

(First)

(Middle)

GENERAL ELECTRIC COMPANY

41 FARNSWORTH STREET

 

(Street)

BOSTON

MA

02210

 

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol GENERAL ELECTRIC CO [ GE ]

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

X

Director

10% Owner

X

Officer (give title below)

Other (specify below)

Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)12/31/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X

Form filed by One Reporting Person

Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)

2. Transaction Date (Month/Day/Year)

2A. Deemed Execution Date, if any (Month/Day/Year)

3. Transaction Code (Instr. 8)

4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)

6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)

7. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Stock

585,800

I

By holding company

Common Stock

12,592

I

By family trusts

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Performance Stock Unit

(1)

12/31/2018

A

5,000,000

(2)

(2)

Common Stock

5,000,000

$0

5,000,000

D

Explanation of Responses:

1. 1 for 1

2. Represents 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.

Remarks:

Brian Sandstrom on behalf of H. Lawrence Culp, Jr.

01/03/2019

** Signature of Reporting Person

Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHEAAFDELPNEAF
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