General Electric Co. said Chairman and Chief Executive Jeff
Immelt will receive a 2014 long-term equity incentive grant, which
is part of a broader group of changes intended to further align
executive pay with company performance.
The company said its board's management development and
compensation committee granted Mr. Immelt 200,000 performance share
units and 500,000 stock options on Thursday.
The broader changes will includes a bonus pool that "will be
more formulaically adjusted upward or downward each year" based on
certain financial, operating and strategic goals. The move will
"more directly align annual rewards with annual performance
results," the company said.
GE also announced changes intended to better align the
compensation structure for senior leaders with that of Mr.
Immelt.
Last month, GE reported that its third-quarter profit and
revenue increased and predicted a "very strong" fourth quarter.
Write to Josh Beckerman at josh.beckerman@wsj.com
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