Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 226

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 1
Chunk 226
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 valueWeighted average contractual term (in years)Intrinsic value (in millions)Outstanding at January 1, 202422,573 $122.35 8,103 $76.52 Spin-off adjustment(a)1,941 N/A(2,224)N/AGranted995 160.51 1,503 160.70 Exercised(13,401)111.31 (3,452)67.89 Forfeited(125)98.68 (324)91.53 Expired(1,066)152.97 N/AN/AOutstanding at December 31, 202410,917 $91.78 3.6$819 3,607 $103.70 1.6$602 Exercisable at December 31, 20249,829 $85.52 3.0$799 N/AN/AN/AN/AExpected to vest887 $146.70 9.2$18 3,199 $100.77 1.5$534 (a) The spin-off adjustment represents the net of shares converted into new GE Aerospace awards and shares converted and transferred to GE Vernova Inc. as a result of the April 2, 2024 separation of GE Vernova. Total outstanding target PSUs at December 31, 2024 were 1,104 thousand shares with a weighted average fair value of $129.79. The intrinsic value and weighted average contractual term of target PSUs outstanding were $184 million and 2.1 years, respectively. 

2024 FORM 10-K 67

202420232022Compensation expense (after-tax)(a)$286 $192 $143 Cash received from stock options exercised1,492 565 62 Intrinsic value of stock options exercised and RSU/PSU/Performance shares vested1,754 561 170 (a)Unrecognized compensation cost related to unvested equity awards as of December 31, 2024 was $365 million, which will be amortized over a weighted average period of 1.2 years. Income tax benefit recognized in earnings on stock-based compensation was $152 million, $29 million and  $(3) million in 2024, 2023 and 2022, respectively.

NOTE 18. EARNINGS PER SHARE INFORMATION

202420232022(E