General Electric’s Board approves spin-off of GE Vernova, launching April 2

General Electric’s (GE) Board of Directors has approved the spin-off of GE Vernova (GEV). The company is expected to begin trading on the NYSE on April 2, under the ticker symbol “GEV”. To effect the separation, GE’s Board of Directors approved a distribution to GE shareholders of all shares of GE Vernova’s common stock. Holders of GE common stock will be entitled to receive one share of GE Vernova common stock for every four shares of GE common stock held on March 19. The distribution is expected to occur before U.S. market open on April 2. GE shareholders do not need to take any action to receive shares of GE Vernova common stock to which they are entitled as a GE shareholder. Additionally, shareholders do not need to pay any consideration, or surrender or exchange shares of GE common stock, to participate in the separation. Following completion of the planned spin-off, GE will operate as GE Aerospace. GE shareholders will continue to hold their shares of GE common stock with the company name GE Aerospace, and GE Aerospace will continue GE’s listing on the NYSE under the ticker symbol “GE.” GE anticipates that “when-issued” trading in GE Vernova common stock on the NYSE will begin on or about March 27, under the symbol “GEV WI,” and GE Vernova common stock will begin “regular-way” trading on the NYSE on the distribution date, April 2, under the symbol “GEV.” Beginning on March 27 and through April 1, it is expected that there will be two markets in GE common stock on the NYSE: a “regular-way” market under the symbol “GE,” in which GE shares will trade with the right to receive shares of GE Vernova common stock in the distribution, and an “ex distribution market” under the symbol “GE WI” in which GE shares will trade as GE Aerospace without the right to receive shares of GE Vernova common stock in the distribution.