Company: GE
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001308179-25-000114
Chunk: 20

Company: GENERAL ELECTRIC CO
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 20
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 or decrease payout by up to 10 percentage points based on safety performance. Safety performance is determined based on an assessment against the following total company safety metrics for our operations relative to targets set at the beginning of the performance year: injury and illness total recordable rate, serious incidents and fatalities. How We Selected Targets for the 2024 AEIP The Compensation Committee establishes targets and performance levels that are designed to be rigorous but realistic and informed by our annual financial performance goals and external guidance. For 2024, the target performance for each metric required meaningful growth compared to the prior year. The target, threshold and maximum performance levels for each performance measure are set with reference to annual financial performance goals for the total company and businesses that our CEO and CFO establish, and the Compensation Committee approves the performance levels for compensation purposes. Targets for the 2024 AEIP are inclusive of the impact of the spin-off of GE Vernova in April 2024, reflecting standalone GE Aerospace financials. Failure to achieve threshold on any one metric would result in no payout for that metric; and failure to achieve threshold on all metrics would result in no payout for the AEIP bonus. For the 2024 AEIP, named executives could receive between 0% and 200% of their target award based on financial performance, subject to an additional safety modifier of 10 percentage points. 30 GE Aerospace 2025 Proxy Statement How We Performed Against Annual Bonus Targets for 2024 AEIP The following charts set forth the results for total company and Commercial Engines & Services (CES) performance under the AEIP for 2024. As reflected in more detail below, we had strong financial performance in 2024, with total company and CES operating profit and free cash flow near or exceeding maximum performance levels. For additional information on company performance in 2024, see Launching GE Aerospaceon page 2.

| (1) | Financial                                                                                    
 results were calculated based on the predetermined formulas and targets. We delivered strong 
 financial results in 2024, but we did not achieve the underlying operational performance     
 needed to meet engine delivery and services expectations for our customers. As a result,     
 the Compensation Committee applied a downward adjustment at the total company and CES levels 
 for our operational performance. Total company financial performance was adjusted from 174%  
 to 165%, and CES financial performance was adjusted from 160% to 143%.                       |

| (2) | Based                                                                                    
 on 2024 safety performance against targets for the following metrics: injury and