GE Aerospace Shareholder Services

GE Spin-off FAQ

For further information on the GE Vernova spin-off, please refer to the GE Vernova FAQ here and for GE HealthCare related questions, please see the FAQ here.

Why did GE separate into three independent companies?
On November 11, 2021, GE announced its plans to separate into three independent companies. More can be read about that announcement here. Over the course of the next three years, GE strengthened its financial position and operating performance, all while deepening its culture of continuous improvement and expanding its Lean transformation. With this momentum, GE successfully separated into three independent, investment-grade, and industry leading companies.

What was the timing of the spin-offs?
GE executed the tax-free spin-off of GE HealthCare after market close on January 3, 2023, and its common stock began trading on Nasdaq on January 4, 2023. GE executed the tax-free spin-off of GE Vernova before market open on April 2, 2024, and its common stock began trading on NYSE the same day. Following this second spin-off, GE became an aviation-focused company known as GE Aerospace.
Why did GE initially retain approximately a 19.9% stake in GE HealthCare?
GE initially retained approximately a 19.9% stake in GE HealthCare upon its separation to provide further capital allocation flexibility.

Why did GE initially retain approximately a 19.9% stake in GE HealthCare?
GE initially retained approximately a 19.9% stake in GE HealthCare upon its separation to provide further capital allocation flexibility.

Who leads the three independent companies?
• Larry Culp is Chairman and CEO of GE Aerospace.
• Pete Arduini is President and CEO of GE HealthCare, and Larry Culp is non-executive chairman of GE HealthCare.
• Scott Strazik is CEO of GE Vernova and Stephen Angel is non-executive Chairman.

Who is on the Board of Directors for each business?
You can find the Board of Directors for each business at the following links:
• GE Aerospace Leadership
• GE HealthCare Leadership
• GE Vernova Leadership

Why did you retain the GE name and Monogram at each company?
Through thousands of conversations with customers, employees, and others, it became clear that the GE name and our 130-year-old Monogram represented a legacy of innovation, a symbol of trust for our global customers, and an invaluable source of pride for our teams. Each business will continue our mission of building a world that works, and providing our customers with an important reminder of the strengths they value in GE.

How do I find information on my retirement benefits now that the separations are complete?
As part of the separation process, retirement plans were allocated to their respective businesses. Employees maintained any vested pension accrued. Please contact your benefits team for further information.

Frequently Asked Questions: GE Vernova Spin-off

Each of the responses in this FAQ is qualified in its entirety by the information in GE Vernova’s registration statement on Form 10, which is available on the Securities and Exchange Commission’s website.

What is the GE Vernova spin-off?
The spin-off is the mechanism through which GE Vernova separated from GE. In the spin-off, GE distributed to its shareholders all of the outstanding shares of GE Vernova common stock. Holders of GE common stock received one share of GE Vernova common stock for every four shares of GE common stock held as of the close of business on the record date, March 19, 2024 (unless sold prior to April 2, 2024).

Following the spin-off, GE Vernova became an independent, publicly traded company.
Who serves on GE Vernova’s executive team and Board of Directors?
GE Vernova’s global leadership team can be found here.

When did GE Vernova spin-off from General Electric?
The GE Vernova spin-off occurred before the open of U.S. financial markets on April 2, 2024.

What did GE stockholders receive in the proposed spin-off?
Each holder of GE common stock received one share of GE Vernova common stock for every four shares of GE common stock held on March 19, 2024, the record date for the distribution, unless sold prior to April 2, 2024. The distribution applied to all shares of GE common stock held as of the record date, unless sold prior to spin.

What is the exchange and ticker symbol that GE Vernova trades under?
Shares of GE Vernova are listed on the New York Stock Exchange under the ticker symbol “GEV.”

What is the record date for the GE Vernova spin-off?
The record date for the GE Vernova spin-off is close of business on March 19, 2024.

Did the number of shares of GE common stock I own change as a result of the GE Vernova spin-off?
No, the number of shares of GE common stock you own did not change as a result of the GE Vernova spin-off. Unless you sold or otherwise disposed of your shares of GE common stock, your balance before and after the spin-off remains the same.

As a holder of shares of GE common stock as of the record of the GE Vernova spin-off, how were shares of GE Vernova be distributed to me?
If you owned GE common stock as of the record date for the distribution, the shares of GE Vernova common stock that you received in the spin-off should have been issued to your account as follows:

• Registered stockholders: If you own your shares of GE common stock directly, either in book-entry form through an account at GE’s transfer agent (Equiniti Shareowner Services) and/or if you hold paper stock certificates, you are a registered shareholder. In this case, the distribution agent credited the whole shares of common stock you received in the spin-off by way of direct registration in book-entry form to a new account with GE Vernova’s transfer agent. Registration in book- entry form refers to a method of recording share ownership where no physical stock certificates are issued to stockholders, as was the case in the spin-off. You are able to access information regarding your book-entry account for shares of GE Vernova’s common stock at or by calling Equiniti Trust Company, LLC at 1-800-468-9716 (toll free) or 1-651-450-4064 (international).

• “Street name” or beneficial stockholders: If you owned your shares of GE common stock beneficially through a bank, broker, or other nominee, the bank, broker, or other nominee holds the shares in “street name” and records your ownership on its books. In this case, your bank, broker, or other nominee should have credited your account with the whole shares of GE Vernova’s common stock that you received in the spinoff. We encourage you to contact your bank, broker, or other nominee if you have any questions concerning the mechanics of having shares held in “street name.”

How were fractional shares of GE Vernova treated?
Shareholders did not receive fractional shares of GE Vernova in the spin-off. Shareholders instead received cash in lieu of the fractional shares. The distribution agent aggregated all fractional shares into whole shares and sold the whole shares in the open market at prevailing market prices on behalf of those who were entitled to receive a fractional share. The distribution agent then distributed the aggregate cash proceeds of the sales, net of brokerage fees, transfer taxes and other costs, pro rata to these holders (net of any required withholding for taxes applicable to each holder).

How was the GE Vernova distribution ratio calculated/determined?
The distribution ratio was selected so that GE Vernova has an appropriate number of shares outstanding relative to companies of its size and scope on the S&P 500 and in the electric power generation industry.

Did GE retain a stake in GE Vernova?
No, GE did not retain a stake in GE Vernova following spin-off.

What are the tax implications of the GE Vernova spin-off for shareholders (U.S. and non-U.S.)?
The distribution of GE Vernova common stock was tax-free to holders of GE common stock for U.S. federal income tax purposes. Foreign, as well as U.S. stockholders, should contact their own tax advisor with respect to the U.S. federal, state and local, and foreign tax consequences of the distribution.

How is the cost basis of my GE shares affected by this distribution, and what is the cost basis of my GE Vernova shares?
GE shareholders are required to allocate the aggregate tax basis in their GE common stock held immediately before the spin-off between their GE common stock held immediately after the spin-off and the GE Vernova common stock received in the spin-off (including any fractional share of GE Vernova common stock for which cash was received) in proportion to their relative fair market values on the date of the spin-off. GE shareholders are urged to consult their tax advisors regarding the allocation of their aggregate adjusted tax basis among shares of GE and GE Vernova common stock.

To view GE Form 8937, click here
To view GE Form 8937 attachment, click here

Where can I find more information about the GE Vernova spin-off?
If you have any questions relating to the mechanics of the distribution of shares of GE Vernova common stock in connection with the spin-off, you should contact:

Equiniti Trust Company, LLC
Website: http://www.shareowneronline.com
Phone: + 800-468-9716 or +1 651 450 4064 (international number)
Address: P.O. Box 64854, St. Paul, MN 55164-0854

Questions related to GE Vernova common stock should be directed to [email protected].

Frequently Asked Questions: GE Healthcare Spin-off

Each of the responses in this FAQ is qualified in its entirety by the information in GE HealthCare’s registration statement on Form 10, which is available on the Securities and Exchange Commission’s website.

What is the GE HealthCare spin-off?
The spin-off is the method by which GE HealthCare separated from GE. In this spin-off, GE distributed to its stockholders approximately 80.1% of the outstanding shares of GE HealthCare common stock. Holders of GE common stock received one share of GE HealthCare common stock for every three shares of GE common stock held as of the close of business on the record date, December 16, 2022. Following the spin-off, GE HealthCare became an independent, publicly traded company, and GE retained approximately 19.9% of the outstanding shares of GE HealthCare common stock.

What is the exchange and ticker symbol that GE HealthCare will trade under?
Shares of GE HealthCare are listed on The Nasdaq Stock Market LLC under the ticker symbol “GEHC.”

What did GE stockholders receive in the GE HealthCare spin-off?
Each holder of GE common stock received one share of GE HealthCare for every three shares of GE common stock held as of December 16, 2022, the record date for the distribution.

Did the number of shares of GE common stock I own change as a result of the spin-off of GE HealthCare?
No, the number of shares of GE common stock you own did not change as a result of the GE HealthCare spin-off. Unless you sold or otherwise disposed of your shares of GE common stock, your balance before and after the spin-off is the same.

Did the separation affect the trading price of my GE stock?
The trading price of shares of GE common stock immediately following the planned spin-off is expected to be lower than the trading price immediately prior to the planned spin-off because the trading price will no longer reflect the value of the Healthcare business.

There can be no assurance that, following this spin-off, the combined trading prices of the GE common stock and GE HealthCare common stock will equal or exceed what the trading price of GE common stock would have been in the absence of the spin-off. Ultimately, the market will determine the value of both the remaining GE common stock and GE HealthCare common stock.

What was the record date for the GE HealthCare spin-off?
The record date for the GE HealthCare spin-off was December 16, 2022.

As a holder of shares of GE common stock as of the record date for the GE HealthCare spin-off, how were shares of GE HealthCare distributed to me?
If you owned GE common stock as of the close of business on December 16, 2022, the record date for the distribution, the shares of GE HealthCare common stock that you received in the spin-off were issued to your account as follows:

Registered stockholders: If you owned your shares of GE common stock directly, either in book-entry form through an account at GE’s transfer agent (Equiniti Trust Company) and/or if you held paper stock certificates, you are a registered shareholder. In this case, the distribution agent credited the whole shares of common stock you received in the spin-off by way of direct registration in book-entry form to a new account with our transfer agent. Registration in book- entry form refers to a method of recording share ownership where no physical stock certificates are issued to stockholders, as will be the case in the spin-off. You will be able to access information regarding your book-entry account for shares of our common stock at Shareowneronline.com or by calling Equiniti Trust Company at 1-800-786- 2543 (toll free) or 1-651-450-4064.

“Street name” or beneficial stockholders: If you owned your shares of GE common stock beneficially through a bank, broker, or other nominee, the bank, broker, or other nominee holds the shares in “street name” and records your ownership on its books. In this case, your bank, broker, or other nominee credited your account with the whole shares of our common stock that you received in the spin-off. We encourage you to contact your bank, broker, or other nominee if you have any questions concerning the mechanics of having shares held in “street name.”

How were fractional shares of GE HealthCare treated?
Shareholders did not receive fractional shares of GE HealthCare in the spin-off. Shareholders will instead receive cash in lieu of the fractional shares.

The distribution agent will aggregate all fractional shares into whole shares and sell the whole shares in the open market at prevailing market prices on behalf of who are entitled to receive a fractional share. The distribution agent will then distribute the aggregate cash proceeds of the sales, net of brokerage fees, transfer taxes and other costs, pro rata to these holders (net of any required withholding for taxes applicable to each holder).

Was the distribution ratio updated between the announcement and the spin-off date?
The distribution ratio was announced on November 30, 2022. The distribution ratio did not change between such date and the spin-off date of January 3, 2023.

How was the GE HealthCare distribution ratio calculated/determined?
The distribution ratio was selected so that GEHC will have an appropriate number of shares outstanding relative to companies of GEHC’s size and scope on the S&P 500 and in the healthcare industry.

What do I have to do to participate in the GE HealthCare spin-off?
You were not required to take any action in order to participate in the GE HealthCare spin-off.

If you held GE share certificates that have not been converted into book-entry form in connection with 2021’s reverse stock split, you were still entitled to receive shares of GE HealthCare common stock as a consequence of the intended spin-off, although you will not receive such shares until you exchange your GE share certificates. To exchange your physical GE share certificates for a statement of holdings in book-entry form, please contact GE’s transfer agent, Equiniti Trust Company, to begin the process.

Equiniti Trust Company

Phone: 1-800-786-2543 (toll free) or 1-651-450-4064
Website: Shareowneronline.com

Regular Mail Delivery:
EQ Shareowner Services
P.O. Box 64854
St. Paul, MN 55164-0874

Overnight Mail Delivery:
EQ Shareowner Services
1110 Centre Pointe Curve, Suite 101
Mendota Heights, MN 55120-4100

What are the tax implications of the planned GE HealthCare spin-off for shareholders (U.S. and non-U.S.)?
We expect that the distribution of GE HealthCare common stock will be tax-free to holders of GE common stock for U.S. federal income tax purposes. Foreign, as well as U.S. stockholders, should contact their own tax advisor with respect to the U.S. federal, state and local, and foreign tax consequences of the distribution.

How is the cost basis of my GE shares affected by this distribution, and what is the cost basis of my GE HealthCare shares?
GE shareholders are required to allocate the aggregate tax basis in their GE common stock held immediately before the spin-off between their GE common stock held immediately after the spin-off and the GE HealthCare common stock received in the spin-off (including any fractional share of GE HealthCare common stock for which cash was received) in proportion to their relative fair market values on the date of the spin-off. GE shareholders are urged to consult their tax advisors regarding the allocation of their aggregate adjusted tax basis among shares of GE and GE HealthCare common stock.

To view GE Form 8937, click here

To view GE Form 8937 attachment, click here

Where can I find more information about GE HealthCare?
For more information about GE HealthCare, please visit www.gehealthcare.com.

If you have any questions relating to the mechanics of the distribution of shares of GE HealthCare common stock in connection with the spin-off, you should contact the distribution agent at:

Equiniti Trust Company
Attn: Account Management Team
1110 Centre Pointe Curve, Suite 101
Mendota Heights, Minnesota 55120-4101

Questions relating to GE common stock should be directed to GE Shareowner Services using the contact information above, and questions related to GE HealthCare common stock should be directed to GE HealthCare at:

GE Healthcare Technologies Inc.
500 W. Monroe Street
Chicago, Illinois 60661
Attention: Investor Relations

Reverse Stock Split Summary

On July 30, 2021, GE announced that it completed the 1-for-8 reverse stock split, a corresponding proportionate reduction in the authorized shares of its common stock, and reduction of its par value per share of common stock to $0.01 (collectively, the reverse stock split).

The reverse stock split was approved by GE shareholders at GE’s annual shareholders meeting on May 4, 2021.


Purpose: In recent years, as GE’s transformation has accelerated, we divested significant businesses, from NBC Universal to Oil & Gas and – with the announced sale of GECAS - nearly all of GE Capital. Through these divestitures, we did not reduce our share count proportionally– leaving us in the unusual position of having nearly 8.8 billion shares outstanding, a much higher share count than other industrial companies.

The purpose of the reverse stock split was to reduce the number of outstanding shares of GE common stock to levels that are better aligned with companies of GE’s size and scope and a clearer reflection of the GE of the future, not the past. It also marks another step in GE’s transformation to be a more focused, simpler, stronger high-tech industrial company.


Effective Date: GE filed an amendment to its certificate of incorporation to effectuate the reverse stock split after the close of trading on July 30, 2021, and GE common stock began trading on a split-adjusted basis on August 2, 2021.


Exchange Ratio: GE shareholders received one share for every eight shares of GE common stock owned.


Process:  After the close of trading on July 30, 2021, every eight shares of GE common stock owned by a shareholder were automatically combined into one share of common stock. This reduced the number of outstanding shares from ~8.8 billion shares to ~1.1 billion shares.


Fractional Shares: Registered shareholders who would otherwise hold fractional shares because the number of shares of GE common stock they held before the reverse stock split is not evenly divisible by eight are entitled to receive cash in lieu of such fractional shares.

Beneficial shareholders that hold their shares through a brokerage firm, bank, trust or other similar organization should contact such organization with questions regarding their fractional share treatment.


Dividend Payments: The per share dividend paid was proportionately adjusted to reflect the reverse stock split. On September 10, 2021, GE announced a quarterly dividend of $0.08 per share. The Board of Directors of GE reserves the right to change the company’s dividend policy in the future.


Tax Forms: The reverse stock split is intended to be tax-free for U.S. federal income tax purposes. U.S. shareholders generally should not recognize gain or loss from the reverse stock split, except in those instances where cash payments were provided for fractional shares. Form 1099-B will be issued in early 2022 to registered shareholders for cash payments made in lieu of fractional shares.
Shareholders can find our Form 8937 below.
GE Form 8937
Attachment to Form 8937


Additional Information: For additional information on the reverse stock split and how it may affect your shares of GE common stock, please refer to the GE Reverse Stock Split Frequently Asked Questions.

For additional information on the historic impact to earnings per share of the reverse stock split, please refer to the EPS supplement.

GE Aerospace common stock is listed on:

New York Stock Exchange

GE Aerospace’s transfer agent, Equiniti Trust Company (EQ), sponsors and administers a Shareowner Services Plus Plan that provides methods of purchasing, holding and selling shares in GE Aerospace stock.  Interested parties can visit shareowneronline.com or contact EQ Shareowner Services toll-free at 1-800-786-2543.


Download program brochure

Equiniti Trust Company (known as EQ Shareowner Services) is GE Aerospace’s transfer agent and administers all matters related to stock that is directly registered with GE Aerospace.

http://www.shareowneronline.com
+1 800 786 2543
+1 651 450 4064 (international number)

EQ Shareowner Services
P.O. Box 64874
St Paul, MN 55164-0854

If you own your stock directly with GE Aerospace and would like to receive future Annual Reports and Proxy Statements via the website when they become available, rather than receiving hard copies in the mail, click the link below.

Contact Equiniti Trust Company

To resume mail delivery please click the same link above or please write to:
EQ Shareowner Services
P.O. Box 64854
St. Paul, MN 55164-0854

If you own stock through a broker, sign up at Broadridge.

1099-DIV, 1099-B and 1042-S

The 1099-DIV statement is sent by January 31st each year, except for reporting amounts under $10.00.

The 1099-B statement is sent by March 15th each year for all reporting amounts per the IRS.

The 1042-S statement is sent by March 15th each year except for reporting amounts under $1.00.

For more information about these tax statements, contact GE Aerospace’s transfer agent,
Equiniti Trust Company. 

https://www.shareowneronline.com/
+1 800 786 2543
+1 651 450 4064 (international number)

EQ Shareowner Services
P.O. Box 64854
St. Paul, MN 55164-0854

Prior to 2017

Investors seeking tax statements for periods prior to 2017 should contact Computershare. https://www.computershare.com


+1 800 522 6645

On August 5, 2014, GE completed the initial public offering (IPO) of its North American Retail Finance business, Synchrony Financial, as a first step in a planned, staged exit from that business.

Following the IPO, on November 17, 2015, GE completed the split-off of Synchrony Financial, through which the Company accepted 671,366,809 shares of GE common stock from its shareholders in exchange for 705,270,833 shares of Synchrony Financial common stock.

Click here to learn more about terms of this exchange offer and for IRS Form 8937 "Report of Organizational Actions Affecting Basis of Securities".

Transaction Summary

On February 25th, 2019, GE completed the spin-off and subsequent merger of its transportation business with Wabtec Corporation (NYSE:WAB).

Under the terms of the transaction, GE distributed all 8.7 billion shares of common stock of Transportation Systems Holdings Inc. (“SpinCo”) with respect to the shares of GE common stock outstanding as of the close of business on February 14, 2019 by means of a pro rata distribution (the “Spin-off”), and SpinCo and a subsidiary of Wabtec then merged.


Record Date: GE shareholders must own GE stock by February 14th and hold through February 25th close of trade to be eligible to receive Wabtec shares.


Exchange ratio: GE shareholders receive .005371 shares of Wabtec for every 1 share of GE owned. Shareowners receive cash in exchange for fractional interests.


Fair Market Value: $78.06 per share, the closing stock price of Wabtec on February 25, 2019.*


Cost Basis Adjustment to GE Shares: No change to historic cost basis of GE shares.


Wabtec Cost Basis: A shareowner’s inclusion of the per share dividend amount in taxable income establishes the shareowner’s cost basis in the Wabtec shares.


Tax Forms: GE shareholders will receive a Form 1099-DIV reporting the $78.06 per share dividend of Wabtec. If a shareowner receives cash in lieu of fractional shares, shareowner will receive a Form 1099-B. GE will not be filing form 8937 because the transaction has no impact on the tax basis in GE shares.

GE will use a value of $78.06 per Wabtec share for reporting purposes on the Form 1099-DIV that GE will send to its shareowners and the IRS. A shareowner should consult with its tax advisor regarding the fair market value of the Wabtec shares.

Every U.S. state puts an obligation on shareholders to remain active or their shares will be considered lost. If investors fail to communicate regularly with GE Aerospace, their state of residence can take their shares and, in many cases, sell them. Investors will be required to go to the state to reacquire them, but if the state has sold their shares, they will have lost all dividends and any increase in value. Every state has this law, often referred to as Unclaimed Property.

If you hold stock directly with GE Aerospace, these are the steps you can take to stay active as a shareowner:

Review and update your account details by contacting the GE Aerospace’s transfer agent, Equiniti Trust Company (EQ), at least once every 3 years. The same rule applies for GE Aerospace’s Dividend Reinvestment program. Vote in the Proxy each year when opportunity is provided.

Cash your dividend checks promptly. To avoid lost checks, consider setting up Direct Deposit for dividend payments.

Report shareholder status changes. If your spouse or parent passed away owning GE Aerospace shares, contact EQ to re-register the shares.

Immediately sign and return contact letter(s) mailed from EQ.
If you have other questions about unclaimed property, please call or write GE Aerospace’s Unclaimed Property team:


Bruce Squillante Unclaimed Property Controller

+1 616 460 1614

[email protected]


Wava Houston Unclaimed Property Manager

+1 239 209 7502

[email protected]