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Non-Tech : General Electric (GE)

GE 310.74

-1.1%

Oct 30 3:59 PM EDT

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From: Sr K	3/18/2023 2:51:31 PM
	1 Recommendation Recommended By Kirk © Read Replies (2) of 3256

A day ago GE Cancels Stock Awards for CEO, Cutting $14 Million Off Pay Company cites poor returns and earnings performance for the decision Larry Culp, GE’s chairman and CEO, still could receive performance-linked shares valued at $146 million.PHOTO: CHRISTOPHER GOODNEY/BLOOMBERG NEWS By Theo Francis March 17, 2023 8:04 am ET SHARE Listen to article (2 minutes) General Electric Co. said it canceled stock awards for Chief Executive Officer Larry Culp originally valued at $20 million, saying the company had failed to reach minimum performance thresholds necessary for the executive to take full title to the shares. The move, made by the board last month, wiped out $5 million of the $8.2 million in total compensation the company reported for Mr. Culp for 2022, as well as a tranche of shares originally valued at $15 million when it was awarded in 2020. The company also canceled equity awards for the same years for other top executives. Exc.

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