GM Proxy Statement Filed: Shareholder Vote Details

TL;DR

GM proxy filed - shareholders vote on company direction May 28th.

AI Summary

General Motors Co. filed a Definitive Additional Materials proxy statement on May 28, 2024. This filing is related to the company's 2024 Annual Meeting of Stockholders. The proxy statement provides detailed information for shareholders to consider when voting on various proposals.

Why It Matters

This filing is crucial for General Motors shareholders as it outlines the proposals they will vote on, impacting the company's governance and strategic direction.

Risk Assessment

Risk Level: low — This is a routine proxy filing providing information to shareholders, not indicating any immediate financial distress or significant new risks.

Key Players & Entities

• General Motors Co. (company) — Registrant
• 300 Renaissance Center, Detroit, Michigan 48265 (company) — Registrant's address
• May 28, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $171.8B — arkets 4 CY 2023 Financial Highlights $171.8B $10.1B 5.9% $7.32 Net income Net sales
• $10.1B — CY 2023 Financial Highlights $171.8B $10.1B 5.9% $7.32 Net income Net sales and rev
• $7.32 — inancial Highlights $171.8B $10.1B 5.9% $7.32 Net income Net sales and revenue EPS-Di
• $12.4B — e Margin attributable to stockholders 1 $12.4B $7.68 7.2% 3,768K Wholesale Units EPS-D
• $7.68 — n attributable to stockholders 1 $12.4B $7.68 7.2% 3,768K Wholesale Units EPS-Diluted
• $0.09 — or dividend Increased dividend 33% from $0.09 per share to $0.12 per share effective
• $0.12 — ed dividend 33% from $0.09 per share to $0.12 per share effective in 2024 We see oppo
• $10B — sing 1 Repurchases amount includes full $10B of ASR announced in November of 2023, a
• $6.13 — 2023 Diluted earnings per common share $6.13 $7.32 1 1.46 1.36 Adjustments 2 (0.29)
• $7.59 — ividend adjustment EPS-diluted-adjusted $7.59 $7.68 1 See slide 13 for description of

Filing Documents

• d812191ddefa14a.htm (DEFA14A) — 33KB
• g812191txp10g1.jpg (GRAPHIC) — 174KB
• g812191txp11g1.jpg (GRAPHIC) — 283KB
• g812191txp12g1.jpg (GRAPHIC) — 500KB
• g812191txp13g1.jpg (GRAPHIC) — 206KB
• g812191txp14g1.jpg (GRAPHIC) — 139KB
• g812191txp1g1.jpg (GRAPHIC) — 119KB
• g812191txp2g1.jpg (GRAPHIC) — 191KB
• g812191txp3g1.jpg (GRAPHIC) — 429KB
• g812191txp4g1.jpg (GRAPHIC) — 176KB
• g812191txp5g1.jpg (GRAPHIC) — 146KB
• g812191txp6g1.jpg (GRAPHIC) — 165KB
• g812191txp7g1.jpg (GRAPHIC) — 115KB
• g812191txp8g1.jpg (GRAPHIC) — 207KB
• g812191txp9g1.jpg (GRAPHIC) — 347KB
• 0001193125-24-147578.txt ( ) — 4439KB

Executive Compensation Aligned to Performance L T I P W o r k i n g a s D e

Executive Compensation Aligned to Performance L T I P W o r k i n g a s D e s i g n e d Consistently Delivering Strong Results and Meeting or Exceeding our Financial Commitments GM delivered strong financial performance in 2023 but underperformed relative to commitments on its transformation journey during the year (particularly with EV production and AV technology), which was reflected in the Company's stock price. This under performance was reflected in the value of the stock options held by executives and also in the below-target payout of 74% for the Performance Share Units that vested this year covering the 2021-2023 performance period, due to a below-threshold performance result on Relative TSR, combined with achieving th 79 percentile performance on Relative ROIC-adjusted. 10 Enhancements Driving Accountability and Execution The Compensation Committee made several key enhancements to our compensation plans for 2024 that we believe will drive execution and hold management accountable for performance against specific, near-term strategic goals. At the same time, we are evolving our long-term incentive programs to more closely align compensation to the interests of our shareholders. Together, these enhancements will drive near-term execution, long-term shareholder value, and help attract and retain key talent. Key Enhancements Performance Measures While EBIT-adjusted and Adjusted Automotive Free Cash Flow will remain the primary financial performance measures under the 2024 STIP, the plan will also incorporate specific, quantitative performance measures mapped to our four strategic areas of focus: ICE, EV, AV, and Software and Services. Our LTIP performance measures will continue to focus on creating long-term shareholder value and Company profitability, while increasing the focus on cash generation. New Structure – Elimination of Stock Options: To remain competitive in acquiring the talent we need and to efficiently utilize the shares available in the equity

View Full Filing

View this DEFA14A filing on SEC EDGAR