Spin-off - GE Vernova Inc.
Form Type: 11-K
Filing Date: 2025-06-24
Corporate Action: Spin-off
Type: New
Accession Number: 000199681025000121
Filing Summary: On April 2, 2024, General Electric Company completed the spin-off of GE Vernova Inc., establishing it as an independent publicly traded company. As part of this process, assets and related liabilities of approximately $7.6 billion were transferred from the GE Retirement Savings Plan into the GE Vernova Retirement Savings Plan. The report audited by Deloitte & Touche LLP covers the financial statements of the GE Vernova Retirement Savings Plan as of December 31, 2024, reflecting assets available for plan benefits of $8,208,332, including investments at fair value amounting to $8,083,350. The report also details contributions, withdrawals, and the plan's compliance with ERISA regulations. During the fiscal period, the plan received significant investment income and contributions, leading to a net increase of $625,974 before asset transfers. The document highlights the plan's structure, investment options, and the benefits available to participants, as well as noting subsequent events related to the liquidation of the GE Stock Fund that began in April 2025.
Additional details:
Full Title: ge_vernova_retirement_savings_plan
Principal Executive Office Address: 58 Charles Street, Cambridge, MA 02141
Audit Firm: Deloitte & Touche LLP
Net Assets Available For Plan Benefits: 8208332
Investment Income: 949727
Transferred Assets Value: 7600000
Audit Opinion: financial statements present fairly, in all material respects
Year End Date: 2024-12-31
Form Type: DEF 14A
Filing Date: 2025-03-28
Corporate Action: Spin-off
Type: New
Accession Number: 000199681025000049
Filing Summary: On March 28, 2025, GE Vernova Inc. announced the details of its inaugural 2025 Annual Meeting of Stockholders, marking a significant milestone following its spin-off from General Electric Company on April 2, 2024. The meeting will be held virtually on May 14, 2025, with stockholders of record on March 21, 2025, entitled to vote. Key proposals include the election of three Class I directors to serve until the 2028 Annual Meeting, an advisory vote on the compensation of named executive officers, a proposal on the frequency of future ‘Say-on-Pay’ votes, and the ratification of Deloitte & Touche LLP as independent auditors for the fiscal year ending December 31, 2025. The Board emphasizes its commitment to governance, capital return strategies, including a quarterly dividend of $0.25 per share, and a $6 billion share repurchase program, alongside significant investments in research and development.
Additional details:
Date Time: 2025-05-14T08:30:00Z
Stockholder Record Date: 2025-03-21
Quarterly Dividend: 0.25
Share Repurchase Program: 6000000000
Investment In Rd: 9000000000
Revenue 2024: 35000000000
Net Income 2024: 1600000000
Adjusted Ebitda 2024: 2000000000
Comments
No comments yet. Be the first to comment!