Director/PDMR Shareholding
GENERAL ELECTRIC
Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons
Please accept this notification by General Electric Company ('GE') as required
by DR 3.1.4R(1) of the UK Disclosure Rules.
Effective September 16, 2005 the following GE insider transactions became
effective:
The following 28 Executive Officers were granted Employee Stock Options and
Restricted Stock Units (RSU) each:
NAME Stock Option RSU
David L. Calhoun 300,000 66,667
Michael A. Neal 240,000 53,334
John G. Rice 300,000 66,667
Robert C. Wright 300,000 66,667
Ferdinando Beccalli 90,000 20,000
Charlene Begley 90,000 20,000
Mark W. Begor 90,000 20,000
Paul T. Bossidy 90,000 20,000
James P. Campbell 120,000 26,667
William J. Conaty 240,000 53,334
Scott C. Donnelly 135,000 30,000
Yoshiaki Fujimori 81,000 18,000
Arthur H. Harper 102,000 22,667
Joseph M. Hogan 150,000 33,334
John Krenicki 150,000 33,334
David R. Nissen 195,000 43,334
Dan O'Connor 90,000 20,000
Michael E. Pralle 90,000 20,000
Ronald R. Pressman 135,000 30,000
Gary M. Reiner 150,000 33,334
Keith S. Sherin 300,000 66,667
Lloyd G. Trotter 180,000 40,000
Philip D. Ameen 33,000 7,334
William H. Cary 48,000 10,667
Kathryn A. Cassidy 24,000 5,334
Pamela Daley 66,000 14,667
Brackett B. Denniston III 105,000 23,334
Shane Fitzsimons 21,000 4,667
Each Stock Option unit was acquired at a price of $34.47 pursuant to the terms
of the GE 2003 Non-Employee Director Compensation Plan. Each unit is equal in
value to one share of GE stock.
The RSUs convert on a 1 for 1 basis with the following vesting schedule: 50%
will vest on the 3rd anniversary of the grant; 50% on the 5th anniversary.
Forms 4 disclosing the grants described above were filed with the SEC on
September 20, 2005.
Effective September 16, 2005, Jeffrey R. Immelt, General Electric's Chairman of
the Board and Chief Executive Officer, was granted 250,000 performance share
units (PSUs). This is the only equity-based compensation awarded to Mr. Immelt
in 2005.
These PSUs have the same terms as the PSUs granted to Mr. Immelt in 2003 and
2004, except for the performance period. Half of these PSUs will convert into
shares of GE stock only if GE's cash flow from operating activities, adjusted to
exclude the effect of unusual events, has grown an average of 10% or more per
year over the five-year performance period from 2005 through 2009. Otherwise,
they will be cancelled. The remaining 125,000 PSUs will convert into shares of
GE stock only if GE's total shareowner return meets or exceeds that of the S&P
500 over the five-year performance period. Otherwise, they will be cancelled.
For this purpose, total shareowner return means the cumulative total return on
GE stock and the S&P 500 index, respectively, from December 31, 2004 to December
31, 2009, calculated in the same manner as the five-year performance graph
included in GE's proxy statement. During the performance period, Mr. Immelt will
receive quarterly payments on each PSU equal to GE's quarterly per share
dividends.
A report on a Form 8-K disclosing the grant discussed above was filed with the
SEC on September 20, 2005.
Submitted on behalf of GE by Eliza W. Fraser, Associate Corporate Counsel, Tel:
203-373-2442.