Company: GE
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001308179-25-000114
Chunk: 26

Company: GENERAL ELECTRIC CO
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 26
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QUITY AWARDS.Under his prior employment agreement, Mr. Culp was granted annual equity with a grant date fair value of $15 million in the form of PSUs. Under Mr. Culp’s 2024 employment agreement, starting in 2025, Mr. Culp is granted equity with a grant date fair value of $15.25 million, in the form of 50% PSUs, 30% options and 20% RSUs to align the mix of annual equity with other members of the senior leadership team and with the market. For GE Aerospace operating on a standalone basis, in contrast to the multi - business GE before the spin - offs, the Compensation Committee views the consistency of Mr. Culp’s annual equity incentives with the rest of his senior leadership team as a valuable point of alignment and integration for the more focused company today.

CEO INCENTIVE GRANT.Mr. Culp also received a CEO Incentive Grant that is exclusively performance - based in the form of PSUs. The grant represents 310,289 shares of common stock at target, with 0% to 150% of the target PSUs eligible to become earned based on the compound annual growth rate for adjusted earnings per share (EPS CAGR) over four fiscal years ending with, and subject to the satisfaction of service conditions through, December 31, 2027 (with limited exceptions, as described under Potential Termination Payments). The EPS CAGR performance target levels are aligned with the long - term operating profit outlook of approximately $10 billion the company provided for 2028 at the GE Aerospace Investor Day on March 7, 2024. This represents strong growth in adjusted EPS over the performance period, with EPS growing more than operating profit, and an ambitious growth rate in comparison to industrial benchmarks. In determining the structure, amount and terms of the CEO Incentive Grant, the Compensation Committee and the Board considered the necessary incentives to retain Mr. Culp over an extended period while tying the value of the award directly to the company’s future operating performance. In particular, the Compensation Committee and the Board considered:

| • | The                                                                                        
 grant of PSUs is 100% performance-based,                                                   
 aligns Mr. Culp’s compensation with shareholder value and incentivizes continued long-term 
 value creation.                                                                            |

| • | The                                                                                        
 award agreement runs through 2027, the same period as Mr. Culp’s employment agreement,     
 and provides a stronger retention incentive than simply increasing his annual compensation