GE Aerospace

On March 15, 2022, General Electric Company (“GE” or the “Company”) and H. Lawrence Culp, Jr., GE’s Chairman and Chief Executive Officer, entered into an amendment to Mr. Culp’s employment agreement. The amendment reflects an agreement between the Management Development and Compensation Committee (the “MDCC”) of GE’s Board of Directors and Mr. Culp to reduce his annual equity incentive grant for 2022 from $15 million to $5 million, representing a 67% reduction of annual equity compared to the amount previously provided in the employment agreement.

On March 6, 2022, the Board of Directors (the “Board”) of General Electric Company (“GE” or the “Company”) elected Stephen F. Angel, Isabella D. Goren and Tomislav Mihaljevic to the Board, effective March 7, 2022 for Mr. Angel and Ms. Goren and April 11, 2022 for Dr. Mihaljevic. James Tisch will not stand for reelection at the Company’s 2022 Annual Meeting of Shareholders. In connection with these changes, the Board increased its size to accommodate the newly elected directors. A copy of the press release announcing the election of the new directors is attached as Exhibit 99 and incorporated herein by reference. The Board has determined that Mr. Angel, Ms. Goren and Dr. Mihaljevic are independent directors under the New York Stock Exchange listing standards and the Company’s independence guidelines, as set forth in the Board’s Governance Principles. Mr. Angel, Ms. Goren and Dr.

In connection with the previously reported GE Healthcare leadership transition, Kieran P. Murphy will no longer serve as President and Chief Executive Officer of GE Healthcare after December 31, 2021. On December 21, 2021, GE and Mr. Murphy entered into a separation agreement pursuant to which Mr. Murphy will remain employed for a period of garden leave, which is typical for senior UK-based employees. During this period from January 1, 2022 until September 30, 2023, Mr. Murphy will remain available for advisory services or other work as required, and he will receive his regular salary, an annual bonus for the 2021 plan year based on the performance of GE Healthcare and health and life insurance benefits; he will not receive pension contributions, future bonuses or equity awards. Under the separation agreement, Mr.

On June 20, 2021, Kieran P. Murphy, President and Chief Executive Officer (“CEO”) of GE Healthcare, communicated his intention to retire from General Electric Company (“GE”). Mr. Murphy will be succeeded by Peter J. Arduini, President and CEO of Integra LifeSciences, who agreed to join GE as part of a planned transition process to identify Mr. Murphy’s successor. Mr. Arduini is expected to join GE as President and CEO of GE Healthcare in January 2022. Mr. Murphy will continue to serve in his current role until Mr. Arduini joins GE and then will serve as a strategic advisor to GE for a period of time. (2)

On August 18, 2020, the Management Development and Compensation Committee of the Board of Directors (the “Board”) of General Electric Company (“GE” or the “Company”) recommended and the Board approved an amendment to the employment agreement of H. Lawrence Culp, Jr., GE’s Chairman and Chief Executive Officer, dated as of October 1, 2018, to extend the term of the agreement through August 2024, or such later date as mutually agreed by the parties up to and through August 17, 2025. In connection with the extension, the Board also approved a one-time equity performance grant to Mr. Culp, which is intended to provide Mr. Culp with the incentive to continue to provide services to the Company during the same period covered by the amended employment agreement (the “performance period”), and reward returns to investors through stock price appreciation.

On June 12, 2020, David Joyce communicated his intention to retire from his position as Vice Chairman of General Electric Company (“GE”) and President and CEO of GE Aviation. Mr. Joyce, a 40-year veteran of GE, will be succeeded by John Slattery, President and CEO of Commercial Aviation for Embraer, who agreed to join GE as part of a planned transition process to identify Mr. Joyce’s successor. Mr. Slattery will join GE as President- and CEO-elect for GE Aviation on July 13, 2020 and succeed Mr. Joyce as President and CEO of GE Aviation on September 1, 2020. Following Mr. Slattery’s appointment as President and CEO of GE Aviation on September 1, 2020, Mr. Joyce will serve as non-executive Chairman of GE Aviation through December 31, 2020 to assist in the transition. Mr. Joyce also will continue to serve as GE Vice Chairman and as an advisor to GE Research through December 31, 2020.

As previously reported by General Electric Company (“GE” or the “Company”) on a Current Report on Form 8-K filed with the Securities and Exchange Commission on July 31, 2019, Jamie Miller will transition from her role as the Company’s Senior Vice President, Chief Financial Officer (“CFO”) after assisting with the transition to her successor. As announced on November 25, 2019, the Company has appointed Carolina Dybeck Happe as its next Senior Vice President, CFO. The Company expects Ms. Dybeck Happe to commence employment with the Company as Senior Vice President, CFO on March 1, 2020. On February 17, 2020, Ms. Miller and the Company entered into a Separation Agreement & Release (the “Agreement”). Pursuant to the terms of the Agreement, Ms. Miller will remain employed with the Company until September 30, 2020, or such earlier date as may be agreed between Ms.

On November 25, 2019, General Electric Company (“GE” or the “Company”) announced in a press release that it had appointed Carolina Dybeck Happe, 47, as the Senior Vice President, Chief Financial Officer (“CFO”) of GE. Ms. Dybeck Happe is expected to join GE early in 2020. Dybeck Happe biography. Ms. Dybeck Happe is currently the Executive Vice President, CFO for A.P. Moller – Maersk, the Danish integrated container logistics company, a position she has held since January 2019. Prior to joining A.P. Moller – Maersk, Ms. Dybeck Happe was the Executive Vice President, CFO for Assa Abloy Group, a Swedish conglomerate offering access solutions, from March 2012 to December 2018. Ms.

On July 31, 2019, General Electric Company (“GE”) announced in a press release that Jamie S. Miller, Senior Vice President and Chief Financial Officer (“CFO”), will transition from her role as CFO. GE has initiated a search to identify its next CFO, and Ms. Miller has agreed to remain in her role to assist with a smooth transition. Material terms of Ms. Miller’s separation agreement will be disclosed once they are finalized. (2)

On April 1, 2019, General Electric Company (“GE” or the “Company”) announced annual equity awards for the Company’s executives and the framework for the Company’s 2019 annual cash bonus plan, in each case as approved by the Management Development & Compensation Committee (“MDCC”) of the GE Board. Equity Awards. All of the 2019 equity awards approved by the MDCC for GE’s Chairman and CEO, H. Lawrence Culp, Jr., are in the form of performance stock units (“PSUs”), with a grant date fair value of approximately $15 million, in accordance with his employment agreement. The MDCC also approved an equity award with a grant date fair value of approximately $15 million for David Joyce, Vice Chairman, GE and President and CEO, GE Aviation, anticipating that Mr. Joyce is not expected to receive other equity awards in future years prior to his retirement. The performance conditions for Mr.

On February 19, 2019, the Board of Directors (the “Board”) of General Electric Company (“GE” or the “Company”) elected Catherine Lesjak, the former Chief Financial Officer of HP, Inc., to the Board, effective March 1, 2019. Ms. Lesjak joined HP’s predecessor, Hewlett-Packard Company, in 1986 and has served in wide range of prominent leadership roles with the company. Ms. Lesjak served most recently as Interim Chief Operating Officer of HP from July 1, 2018 to January 1, 2019. She served as Chief Financial Officer of HP from January 1, 2007 to July 1, 2018, and also served as Interim Chief Executive Officer from August 6, 2010 to November 1, 2010. She will retire from HP on February 28, 2019. The Board concurrently increased its size to 12 directors and Ms. Lesjak will fill the resulting vacancy. The Board has determined that Ms.

General Electric Company (“GE” or the “Company”) is filing this Current Report on Form 8-K pursuant to

General Electric Company (“GE” or the “Company”) announced that director John J. Brennan has retired from the Company’s Board of Directors (the “Board”) after six years of service, effective December 7, 2018. In addition, the Board elected Paula Rosput Reynolds as a director to fill the resulting vacancy, effective on that date. Ms. Reynolds is the Chief Executive Officer of PreferWest, LLC, a privately held business advisory firm. The Board has determined that Ms. Reynolds is an independent director under the New York Stock Exchange listing standards and the Company’s independence guidelines, as set forth in the Board’s Governance Principles. Ms.

As previously reported by General Electric Company (“GE” or the “Company”) on a Current Report on Form 8-K filed with the Securities and Exchange Commission on October 4, 2018 (the “Initial Form 8-K”), the Company announced that John L. Flannery was replaced as Chief Executive Officer and resigned from the GE Board of Directors, in each case as of September 30, 2018 (the “Separation Date”). This Current Report on Form 8-K/A is being filed as an amendment to the Initial Form 8-K solely to supplement the Initial Form 8-K and provide information regarding the terms of an agreement between Mr. Flannery and the Company regarding his employment with the Company, which ended on the Separation Date. On October 29, 2018, Mr. Flannery and the Company entered into a Separation Agreement & Release (the “Agreement”). Pursuant to the terms of the Agreement, Mr.

On October 1, 2018, General Electric Company (“GE” or the “Company”) announced that the Board of Directors (the “GE Board”) appointed H. Lawrence Culp, Jr., 55, as Chairman and Chief Executive Officer (“CEO”), effective September 30, 2018. Mr. Culp succeeds John L. Flannery, 57, who resigned from the GE Board on September 30, 2018. Culp biography. Mr. Culp has been a director on the GE Board since April 25, 2018, and he served as Lead Director from June 26, 2018 until this appointment as Chairman and CEO. In addition to serving as Chairman and CEO of GE, Mr. Culp is a Senior Advisor at Bain Capital Private Equity (since 2017), a Senior Lecturer at Harvard Business School (since 2015) and a director of T. Rowe Price (since 2015). Before that, he was CEO and President of Danaher Corporation from 2000-2014 and a Senior Advisor there from 2014-2016. For more information, see Mr.

On July 24, 2018, Jan Hauser, GE’s Vice President, Controller and Chief Accounting Officer, communicated her intention to retire from General Electric Company (“GE”). GE intends to appoint Thomas S. Timko, 50, as Vice President, Controller and Chief Accounting Officer, effective on or about September 10, 2018. Since 2017, Mr. Timko has been Vice President, Global Business Solutions and Chief Accounting Officer, and from 2013 to 2017 he was Vice President, Controller and Chief Accounting Officer, of General Motors Company (“GM”). Prior to joining GM, he held chief accounting officer positions at Applied Materials, Inc. and Delphi Automotive. Mr. Timko will receive salary, bonus and equity awards, and will participate in other benefit and compensation plans, at levels consistent with his seniority and scope of responsibility.

(b) On February 26, 2018, General Electric Company (“GE” or the “Company”) announced that its board of directors will nominate 12 directors for election at the 2018 Annual Meeting of Shareowners to be held on April 25, 2018. The slate will include three new director candidates: H. Lawrence Culp, Jr., Thomas W. Horton and Leslie F. Seidman. In addition, current directors John L. Flannery, Sébastien M. Bazin, W. Geoffrey Beattie, John J. Brennan, Francisco D’Souza, Edward P. Garden, Risa Lavizzo-Mourey, James J. Mulva and James S. Tisch will be renominated for the board. Current directors Marijn E. Dekkers, Peter B. Henry, Susan J. Hockfield, Andrea Jung, Rochelle B. Lazarus, Steven M. Mollenkopf, James E. Rohr and Mary L. Schapiro will not stand for re-election. John J. Brennan will not stand for re-election at the 2019 Annual Meeting of Shareowners.

On December 8, 2017, Lowell C. McAdam resigned from the Board of Directors (the “Board”) of General Electric Company (the “Company”). Mr. McAdam informed the Company that he was no longer able to allocate the time necessary to continue to serve on the Board. (2)

General Electric Company (“GE” or the “Company”) announced that, effective December 31, 2017, John G. Rice will retire as Vice Chairman, President & CEO, Global Growth Organization after 39 years of service with GE, and Elizabeth J. Comstock will retire as Vice Chairman, Business Innovations after 27 years of service with GE. The Company also announced that, effective November 1, 2017, Jamie S. Miller, 49, will become Chief Financial Officer, succeeding Jeffrey S. Bornstein. Mr. Bornstein will remain a Vice Chairman through year-end. Ms. Miller joined GE in 2008 as Vice President, Controller and Chief Accounting Officer after 18 years of experience outside the Company at Anthem, Inc. and as a Partner at PricewaterhouseCoopers, LLP. Her roles prior to GE included managing investor relations, controllership, financial planning and analysis, tax and financial systems. In April 2013, Ms.

General Electric Company (the “Company”) announced that Robert Lane will be retiring from the Company’s Board of Directors (the “Board”) after 12 years of service, effective October 9, 2017. In addition, the Board elected Edward P. Garden as a director to fill the resulting vacancy, effective on that date. Mr. Garden is the Chief Investment Officer and a Founding Partner of Trian Fund Management, L.P. (“Trian”), an investment management firm. The Board has determined that Mr. Garden is an independent director under the New York Stock Exchange listing standards and the Company’s independence guidelines, as set forth in the Board’s Governance Principles. Mr.

Effective October 2, 2017, Jeffrey R. Immelt retired as a director and Chairman of General Electric Company’s Board of Directors (the “Board”) in light of Mr. Immelt’s determination that the CEO transition has proceeded smoothly and that John L. Flannery, Chief Executive Officer, director and Chair-Elect, was ready to succeed Mr. Immelt as Chairman of the Board. The Board concurred and elected Mr. Flannery as Chairman of the Board effective October 2, 2017. In connection with Mr. Immelt’s retirement, the Board decreased its size from 19 to 18 directors. Effective October 2, 2017, Mr. Immelt also retired as a director and Chairman of the Board of Directors of Baker Hughes, a GE company (“BHGE”). The BHGE Board of Directors (the “BHGE Board”) elected Lorenzo Simonelli, President and Chief Executive Officer of BHGE, to succeed Mr. Immelt as Chairman and elected W.

On June 12, 2017, General Electric Company ("GE" or the "Company") announced that the Board of Directors (the "Board") has appointed John L. Flannery, 55, as Chief Executive Officer ("CEO") and a director of GE, effective August 1, 2017. Mr. Flannery succeeds Jeffrey R. Immelt, 61, who will retire as CEO on July 31, 2017. Mr. Immelt will remain Chairman of the Board for a transition period through December 31, 2017, at which point Mr. Flannery will succeed Mr. Immelt as Chairman, effective January 1, 2018. John J. Brennan will continue to serve as the Board's Lead Independent Director. The Board has been planning for this CEO succession since 2011. Mr.

(e) At the Annual Meeting, shareowners approved the Amended Plan, which: (1) authorizes the issuance of up to 150 million additional shares for use under the plan; (2) extends the term of the plan by ten years, with the 2027 annual meeting as the end date; (3) raises the limit on the number of shares available for incentive stock options by 150 million; (4) adds non-employee directors as particpants under the plan, bringing the deferred stock unit program for directors under the auspices of the plan; (5) establishes an annual limit for director compensation (including both cash and equity compensation) at $1.5 million per year; (6) clarifies that plan awards are subject to the Company's clawback policy; and (7) makes other, non-substantive changes to the plan.

(e) On March 21, 2017, in connection with the investor framework described above and based on discussions with Trian, the Company's Board of Directors modified the performance framework for the members of the Company's executive management team (consisting of the Company's CEO and each of his direct reports at the senior vice president level and above), so that their 2017 bonuses will be increased or decreased from what otherwise would be payable to them pursuant to the terms of the Company's annual cash bonus program, based on achievement of these targets.

(d) On November 4, 2016, the Board of Directors of General Electric Company (the “Company”) elected Steven M. Mollenkopf to the Company’s Board of Directors. Mr. Mollenkopf is the Chief Executive Officer and a director of Qualcomm Incorporated, a leading developer of mobile technology. In connection with the election of Mr. Mollenkopf, the Board of Directors increased its size from 16 to 17 directors. The Board of Directors has determined that Mr. Mollenkopf is an independent director under the New York Stock Exchange listing standards and the Company’s independence guidelines, as set forth in its Governance Principles. Mr. Mollenkopf will participate in the compensation and benefit program for non-management directors.

Effective September 1, 2016, General Electric Company ("GE" or the "Company") has appointed Richard A. Laxer, 55, Senior Vice President, GE and President and Chief Executive Officer, GE Capital, succeeding Keith S. Sherin, 57, who will retire as Chairman and CEO, GE Capital. Mr. Sherin will retire from his position as Vice Chairman and an executive officer of GE effective December 31, 2016. Mr. Sherin's retirement after a 35-year career with GE follows the substantial progress the Company has made in executing on its plan to exit most of its financial services businesses. Mr. Laxer has served as Vice President, GE since 2003 and has led GE Capital's international operations since 2009, previously holding leadership positions in finance and as CEO of major GE Capital businesses around the globe. In connection with this leadership transition, Mr.