GE shares edge up after company outlines CEO bonus package
General Electric Co. on Thursday said its board approved an "employment inducement award" for Chief Executive Officer H. Lawrence Culp that is contingent upon how much the stock appreciates under Culp's leadership. As part of the bonus package, the board's Management Development and Compensation Committee will pay out 2.5 million to 7.5 million shares based on a stock price appreciation target ranging from 50% to 150% between Oct. 1 to Sept. 30, 2022. However, there will be no payout if price appreciation falls below 50%. GE shares rose 0.3% in Thursday's extended session after rising 1.4% to close at $12.66. Since Culp's appointment as CEO, the stock is up 12%.
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