General Electric Co 8-K, filed Feb 13, 2023
General Electric Co (GE)
8-K
2023-02-13
For: 2023-02-13
View Original
Added on
April 02, 2026
About this 8-K
General Electric Co filed this 8-K on February 13, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 13, 2023
(Exact name of registrant as specified in its charter)
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(Registrant’s telephone number, including area code) (617 ) 443-3000
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Item 7.01 Regulation FD Disclosure.
In connection with the partial redemption of the Preferred Stock described in Item 8.01 below, and given the current LIBOR interest rates, General Electric Company (the “Company”) expects net annual savings of approximately $0.1 billion, which is comprised of nine months of savings on dividend payments from the partial redemption of the Preferred Stock, partially offset by foregone earnings associated with cash on hand.
Item 8.01 Other Events.
On February 13, 2023, the Company issued a Notice of Redemption to the holders of shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (CUSIP: 369604BQ5) (the “Preferred Stock”), notifying such holders that the Company has elected to redeem 3,000,000 of its outstanding shares of Preferred Stock on March 15, 2023 for a redemption price of $1,000 per share of Preferred Stock. The redemption price will be paid in cash.
The shares of Preferred Stock are held in book-entry form through The Depository Trust Company (“DTC”), and will be redeemed by an impartial lottery in accordance with the applicable procedures of DTC.
March 15, 2023 is also a dividend payment date for the shares of Preferred Stock. Regular dividends on all of the outstanding shares of Preferred Stock will be paid separately on March 15, 2023, to holders of record as of February 28, 2023, the applicable record date, at a rate equal to three-month LIBOR plus a spread of 3.33% per annum, in the customary manner. Accordingly, the redemption price for the shares of Preferred Stock will not include any declared and unpaid dividends in respect of the shares of Preferred Stock. Dividends will cease to accrue on the shares of Preferred Stock redeemed on the Redemption Date.
Questions about the notice of redemption and related materials should be directed to EQ Shareowner Services by mail at the address and telephone number below:
EQ Shareowner Services
Attention: Corporate Actions Department
1110 Centre Pointe Curve, Suite 101
Mendota Heights, MN 55120
+1 (800)-786-2543
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.
| General Electric Company | |||||||||||
| (Registrant) | |||||||||||
Date: February 13, 2023 | /s/ Brandon Smith | ||||||||||
Brandon Smith Vice President, Chief Corporate, Securities & Finance Counsel | |||||||||||