GM 2024 Shareholder Meeting: Key Votes Ahead

Ticker: GM · Form: DEF 14A · Filed: Apr 24, 2024 · CIK: 1467858

General Motors Co DEF 14A Filing Summary
FieldDetail
CompanyGeneral Motors Co (GM)
Form TypeDEF 14A
Filed DateApr 24, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$10.1 billion, $12.4 b, $10.0 billion, $10.1B, $7.32
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, annual-meeting, governance, executive-compensation

Related Tickers: GM

TL;DR

GM's 2024 shareholder meeting is April 24th - vote on directors, exec pay, and auditors.

AI Summary

General Motors Company (GM) is holding its 2024 Annual Meeting of Shareholders on April 24, 2024. Shareholders will vote on electing 12 board-recommended director nominees, ratifying Ernst & Young LLP as the independent auditor for 2024, and approving executive compensation on an advisory basis. Shareholder proposals may also be presented.

Why It Matters

This meeting is crucial for shareholders to exercise their voting rights on corporate governance, executive pay, and the company's direction.

Risk Assessment

Risk Level: low — This is a standard annual proxy statement outlining routine corporate governance matters.

Key Numbers

  • 12 — Director Nominees (Shareholders will vote on electing these board-recommended nominees.)

Key Players & Entities

  • General Motors Company (company) — Registrant
  • Ernst & Young LLP (company) — Independent registered public accounting firm
  • April 24, 2024 (date) — Date of Annual Meeting

FAQ

When is the 2024 Annual Meeting of Shareholders for General Motors Company?

The 2024 Annual Meeting of Shareholders for General Motors Company is scheduled for April 24, 2024.

What are the main items shareholders will vote on at the 2024 Annual Meeting?

Shareholders will vote on electing 12 director nominees, ratifying the selection of Ernst & Young LLP as the independent auditor, and approving executive compensation on an advisory basis.

Who is recommended by the Board of Directors for election as director nominees?

The Board of Directors has recommended 12 director nominees for election.

Who is proposed to be General Motors' independent registered public accounting firm for 2024?

Ernst & Young LLP is proposed to be ratified as the Company's independent registered public accounting firm for 2024.

How can shareholders review the list of registered shareholders before the meeting?

Shareholders can request to review the list by emailing the Company at shareholder.relations@gm.com.

Filing Stats: 4,332 words · 17 min read · ~14 pages · Grade level 14.9 · Accepted 2024-04-24 08:21:28

Key Financial Figures

  • $10.1 billion — income attributable to stockholders of $10.1 billion and EBIT-adjusted of $12.4 billion, whi
  • $12.4 b — s of $10.1 billion and EBIT-adjusted of $12.4 billion, which marked the third consecuti
  • $10.0 billion — to shareholders, including through the $10.0 billion accelerated share repurchase program we
  • $10.1B — ess Highlights Financial Highlights $10.1B 5.9% $7.32 Net income attributabl
  • $7.32 — Financial Highlights $10.1B 5.9% $7.32 Net income attributable to stockhol
  • $12.4B — ers Net income margin EPS-diluted $12.4B 7.2% $7.68 EBIT-adjusted (1) EB
  • $7.68 — margin EPS-diluted $12.4B 7.2% $7.68 EBIT-adjusted (1) EBIT-adjusted (1)
  • $171.8B — (1) margin EPS-diluted-adjusted (1) $171.8B $20.8B $11.6B Revenue Automotiv
  • $20.8B — EPS-diluted-adjusted (1) $171.8B $20.8B $11.6B Revenue Automotive operati
  • $11.6B — luted-adjusted (1) $171.8B $20.8B $11.6B Revenue Automotive operating cash f
  • $10.0B — e second consecutive year Announced a $10.0B accelerated share repurchase program an
  • $10 billion — rk. In Q4 2023, the Board announced a $10 billion accelerated share repurchase program an

Filing Documents

Security Ownership Information

Security Ownership Information 36 ITEMNO. 2 — Proposal to Ratify the Selection of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm for 2024 38 Audit Committee Report 39 Fees paid to independent registered public accounting firm 40 ITEMNO. 3 — Proposal to Approve, on an Advisory Basis, Named Executive Officer Compensation 41 Compensation Discussion and Analysis 42 Our company performance 43 Compensation overview 45 Compensation elements 51 Performance measures 52 Performance results and compensation decisions 56 Compensation policies and governance practices 62 Compensation committee report 65

Executive Compensation Tables

Executive Compensation Tables 66 Summary compensation table 66 Grants of plan-based awards 68 Outstanding equity awards at fiscal year-end 69 Option exercises and stock vested 69 Pension benefits 70 Nonqualified deferred compensation plan 71 Potential payments upon termination 72 CEO pay ratio 74 Pay versus performance 75 Equity compensation plan information 77 ITEMNO. 4 — Shareholder Proposal Requesting a Report on the Use of Child Labor in Connection with the Company's EV Supply Chain 79 ITEMNO. 5 — Shareholder Proposal to Eliminate EV Targets From Incentive Compensation Programs 81 ITEMNO. 6 — Shareholder Proposal Requesting a Report on the Company's Use of Deep-Sea Mined Minerals in its Production and Supply Chains 83 ITEMNO. 7 — Shareholder Proposal Requesting a Report on Sustainability Risk In The Company's Supply Chain 85 General Information About the Annual Meeting 87 Defined Terms and Commonly Used Acronyms 91 Appendix A: Non-GAAP Financial Measures A-1 Cautionary Note on Forward-Looking Statements: This Proxy Statement may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgement about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our 2023 Form 10-K and our other filings with the SEC. We caution readers not to place undue reliance on forward-looking s

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