I think it was right to lower the bar for Larry Culp to get his stock incentive money. GE isn't going to hit the original stock price targets from his 2018 deal, so why have a CEO of his caliber in the big chair with no payoff in front of him. Plus he signed on for two extra years. He sees some of the new money at ($6.67 x 1.5 = $10.005 per share over 30 days at any point during his tenure). The lowest he would get would be $46 million+ if the lowest requirement is met in the new contract. For the full details, see https://www.sec.gov/ix?doc=/Archives/edgar/data/40545/000095014220002072/eh2001095_8k.htm.
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@1ayz+16yisK8z the bar was lowered long before that. The t-rate scale never would have been created in the first place if the workers of GE at the time actually had a spine like their predecessors. You know, the True D-Rates. Unfortunately too many tough old timers used their insider privilege to open the doors and made it easy for their weak and squishy kids to get in. They looked out for themselves and in doing so, doomed us all. The bar started dropping after Jack left. Now it's so low, you have to dig just to find it. over the easily past 20 years, I've seen a lot of workers here that never would have been given a possible thought of employment during a different time. We are now overrun with those who only have the ability to drink from the water bucket. Too few the ability to carry it now.
@hzs+16yisK8z- the bar was lowered when the T Rats came into the picture
For the lowest payoff tier, would you spend $46 million+ for a $30 billion increase in market capitalization? Yep.
Great to see Culp getting his due for his successes so far!
Keep unloading businesses, reduce cost in ones you keep, pay down debt and increase
shareholder value.
God Bless, Larry!
Why lower the bar? The rest of the employees don't get the bar lowered, a lot of them are getting shown the door