General Electric Company Doc re. GE Files 8-K (7685U)
November 27 2019 - 2:01AM
UK Regulatory
TIDMGEC
RNS Number : 7685U
General Electric Company
27 November 2019
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
Date of Report (Date of earliest event reported) November 24,
2019
General Electric
Company
------------------
(Exact name
of registrant
as specified
in its charter)
New York 001-00035 14-0689340
------------------------------------ ------------- ------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
41 Farnsworth Street, Boston,
MA 02210
------------------------------------ ------------------------------
(Address of principal executive
offices) (Zip Code)
Registrant's telephone number, including area code (617)
443-3000
N/A
-----------------------
(Former name or former
address, if changed
since last report.)
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class Trading Symbol(s) on which registered
Common stock, par value
$0.06 per share GE New York Stock Exchange
----------------- -----------------------
Floating Rate Notes due
2020 GE 20E New York Stock Exchange
----------------- -----------------------
0.375% Notes due 2022 GE 22A New York Stock Exchange
----------------- -----------------------
1.250% Notes due 2023 GE 23E New York Stock Exchange
----------------- -----------------------
0.875% Notes due 2025 GE 25 New York Stock Exchange
----------------- -----------------------
1.875% Notes due 2027 GE 27E New York Stock Exchange
----------------- -----------------------
1.500% Notes due 2029 GE 29 New York Stock Exchange
----------------- -----------------------
7 1/2% Guaranteed Subordinated
Notes due 2035 GE /35 New York Stock Exchange
----------------- -----------------------
2.125% Notes due 2037 GE 37 New York Stock Exchange
----------------- -----------------------
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933
(--230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (--240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act.
(1)
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On November 25, 2019, General Electric Company ("GE" or the
"Company") announced in a press release that it had appointed
Carolina Dybeck Happe, 47, as the Senior Vice President, Chief
Financial Officer ("CFO") of GE. Ms. Dybeck Happe is expected to
join GE early in 2020.
Dybeck Happe biography. Ms. Dybeck Happe is currently the
Executive Vice President, CFO for A.P. Moller - Maersk, the Danish
integrated container logistics company, a position she has held
since January 2019. Prior to joining A.P. Moller - Maersk, Ms.
Dybeck Happe was the Executive Vice President, CFO for Assa Abloy
Group, a Swedish conglomerate offering access solutions, from March
2012 to December 2018. Ms. Dybeck Happe has served on the
supervisory board of E.ON, the German electric utility company,
since June 2016 and the board of directors of Schneider Electric, a
provider of energy and automation digital solutions, since April
2019. Ms. Dybeck Happe has tendered her resignation from the
Schneider Electric board.
Compensation. In connection with Ms. Dybeck Happe's appointment
as CFO, the Company has entered into an employment agreement with
her, setting forth the terms of her compensation, which includes:
(1) a base salary of $1,500,000 per year, (2) a target annual bonus
opportunity at 125% of base salary; (3) a 2020 equity award with a
grant date fair value of $5,000,000, to consist of a mix of
performance share units, restricted stock units and stock options
similar to annual equity awards granted to other senior officers of
the Company; and (4) a one-time, new hire stock option award with a
grant date fair value of $8,000,000 that will vest in a single
tranche on the fourth anniversary of the grant date. In light of
the fact that Ms. Dybeck Happe will be relocating to the Company's
Boston headquarters from overseas, she will also be eligible for
benefits under the Company's Globally Mobile Employee policy for a
period through December 31, 2023, pursuant to which she will be
eligible for certain benefits, including relocation assistance,
housing assistance, tuition assistance for dependent children and
tax equalization benefits (the last of which shall be extended
through December 31, 2026). Ms. Dybeck Happe will be eligible to
participate in all employee benefit plans generally available to
senior officers of the Company, which are more fully described in
the Company's proxy statement for the 2019 annual meeting of
shareholders.
(2)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
General Electric Company
-----------------------------------
(Registrant)
Date: November 26, 2019 /s/ Christoph A. Pereira
-----------------------------------
Christoph A. Pereira
Vice President, Chief Risk Officer
and
Chief Corporate Counsel
(3)
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END
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