Outstanding GE equity-based awards and shares or share units under GE benefit plans will be proportionately adjusted. Concurrently with the reverse stock split, GE’s amended certificate of corporation will also proportionately reduce the number of shares of GE common stock authorized for issuance and reduce the par value of GE common stock to $0.01 per share. This will reduce the number of outstanding shares of GE common stock from approximately 8.8 billion to approximately 1.1 billion. When the reverse stock split is effective, every eight shares of GE common stock issued and outstanding or held as treasury shares as of the effective date will be automatically combined into one share of GE common stock. It also marks another step in GE’s transformation to be a more focused, simpler, stronger high-tech industrial company.” The reverse stock split will better align GE’s number of shares outstanding with companies of our size and scope.

GE Senior Vice President and Chief Financial Officer, Carolina Dybeck Happe said, “GE has divested a number of businesses over the last several years-including nearly all of GE Capital-without any corresponding adjustments to reduce our share count. GE plans to file an amendment to its certificate of incorporation to effectuate the reverse stock split after the close of trading on July 30, 2021, and GE common stock will begin trading on a split-adjusted basis on August 2, 2021.

BOSTON - JGE (NYSE:GE) announced today that it will proceed with the 1-for-8 reverse stock split previously approved by GE shareholders at the annual meeting of shareholders on May 4, 2021.

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