UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 17, 2023

General Electric Company

(Exact name of registrant as specified in its charter)

(Registrant’s telephone number, including area code) (617) 443-3000

   5 Necco Street, Boston, MA, 02210   

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act.  ☐

(1)

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 18, 2023, General Electric Company (“GE”) announced that Rahul Ghai, 51, will become Senior Vice President and Chief Financial Officer of GE effective September 1, 2023, succeeding Carolina Dybeck Happe. Mr. Ghai will assume this role in addition to his current responsibilities as Chief Financial Officer of GE Aerospace.

Mr. Ghai has been Chief Financial Officer of GE Aerospace, a division of GE, since August 2022. Prior to joining GE Aerospace, Mr. Ghai served as Executive Vice President and Chief Financial Officer of Otis Worldwide Corporation, an elevator and escalator manufacturing, installation and service company, from July 2019 to August 2022. Prior to that, Mr. Ghai served as Senior Vice President and Chief Financial Officer of Harris Corporation (which now operates as L3Harris Technologies, Inc.), a technology company and defense contractor, from 2016 to July 2019.

Ms. Dybeck Happe is expected to remain a Senior Vice President for a period of time after September 1, 2023 to assist with the CFO transition and the ongoing work to prepare for GE’s planned spin-off of GE Vernova in early 2024. To facilitate the transition and secure her continuing assistance, GE and Ms. Dybeck Happe agreed that she will remain eligible for the severance benefits under her existing Employment Agreement and applicable equity award agreements if she resigns for “Good Reason” on or before February 14, 2024 as a result of the CFO transition. This amendment, which also specifies reductions to Ms. Dybeck Happe’s salary and future eligibility for bonus and equity awards following the CFO transition effective date, is attached as Exhibit 10 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

(2)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

(3)