General Electric Company (GE) Proxy Filing summary

Executive summary

• Completed transformation into a standalone aerospace company after the GE Vernova spin-off in April 2024, achieving strong financial results with 30% growth in operating profit and 28% growth in free cash flow for 2024, and a 65% total shareholder return compared to 17% for the S&P 500 Industrials Index.

• Secured CEO Larry Culp’s leadership through 2027, emphasizing his track record and the launch of the FLIGHT DECK lean operating model to drive safety, quality, delivery, and cost improvements.

• Board composition refreshed to align with aerospace and defense focus, with five of ten directors added in the last four years and an average tenure of 4.8 years.

Voting matters and shareholder proposals

• Shareholders will vote on: election of 10 directors, advisory approval of executive compensation (say-on-pay), ratification of Deloitte as independent auditor for 2025, and a shareholder proposal requesting a vote on severance payments (Board recommends against the proposal).

• Board recommends voting for all director nominees, for say-on-pay, for auditor ratification, and against the severance proposal.

Board of directors and corporate governance

• Board consists of 10 nominees, 9 of whom are independent, with a mix of tenures and expertise in aerospace, operations, finance, and global business.

• Annual election of directors by majority vote, no supermajority provisions, and strong lead director role.

• Board committees (Audit, Compensation, Governance) are fully independent and meet regularly, with robust self-evaluation and shareholder engagement practices.

• Directors are subject to term and age limits, stock ownership requirements, and restrictions on hedging and pledging.