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(Registrant’s telephone number, including area code)(i617) i443-3000
_______________________________________________
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading Symbol(s)
Name of each exchange on which registered
iCommon stock, par value $0.01 per share
iGE
iNew
York Stock Exchange
i0.875% Notes due 2025
iGE 25
iNew
York Stock Exchange
i1.875% Notes due 2027
iGE 27E
iNew
York Stock Exchange
i1.500% Notes due 2029
iGE 29
iNew
York Stock Exchange
i7 1/2% Guaranteed Subordinated Notes due 2035
iGE /35
iNew
York Stock Exchange
i2.125% Notes due 2037
iGE 37
iNew
York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
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If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act.
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Item 8.01 Other Events.
On March 7, 2024, General Electric Company (“GE” or the “Company”) announced
in connection with the 2024 GE Aerospace Investor Day presentation that the Company’s Board of Directors (the “Board”) has provided a new authorization for up to $15 billion of common share repurchases. This authorization will take effect and replace the prior $3 billion authorization from 2022 after the completion of the planned spin-off of GE Vernova, at which time the Company will operate as GE Aerospace. Repurchases may be made from time to time in the open market, in privately negotiated transactions or in such other manner as determined by the Company. The timing of any repurchases and the actual amount repurchased would depend on a variety of factors, including the market price of the
Company’s shares, general market and economic conditions and other factors. The share repurchase authorization does not obligate the Company to acquire any particular amount of common shares. The authorization has no specified expiration date and may be amended or terminated at any time without prior notice.
Forward-looking statements. This document contains “forward-looking statements” — that is, statements related to future, not past, events. These forward-looking statements often address GE’s expected future business and financial performance and financial condition, and often contain words such as “expect,”“anticipate,”“intend,”“plan,”“believe,”“seek,”“see,”“will,”“would,”“estimate,”“forecast,”“target,”“preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and are subject to risks, uncertainties and assumptions. For GE, particular areas where risks or uncertainties could cause GE’s actual results to be materially different than those expressed in GE’s forward-looking statements include: GE’s success in executing planned and potential transactions, including GE’s planned spin-off of GE Vernova, and sales or other dispositions of GE’s remaining equity interest in GE HealthCare, the timing for such transactions, the ability to satisfy any applicable pre-conditions, and the expected proceeds, consideration and benefits to GE; changes in macroeconomic and market conditions and market volatility, including risk of recession, inflation, supply chain constraints or disruptions, interest rates, the value of securities and other financial assets (including GE’s equity interest in GE HealthCare),
oil, natural gas and other commodity prices and exchange rates, and the impact of such changes and volatility on GE’s business operations, financial results and financial position; and GE’s capital allocation plans, including the timing and amount of dividends, share repurchases, acquisitions, organic investments, and other priorities; and other factors that are described in the “Risk Factors” section of GE’s Annual Report on Form 10-K for the year ended December 31, 2023, as such description may be updated or amended in any future reports that GE files with the SEC. These or other uncertainties may cause GE’s actual future results to be materially different than those expressed in its forward-looking statements. GE does not undertake to update its forward-looking statements.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
