H. Lawrence Culp, Jr.

Chairman & CEO of GE; CEO of GE Aerospace at GENERAL ELECTRIC

Board

Since June 2022

Age

61 years

Education

Holds a Bachelor's degree from Washington College and an MBA from Harvard Business School.

Tenure

Joined GE as an independent director in 04-2018, was promoted to Chairman and CEO in 10-2018, and assumed the role of CEO of GE Aerospace in 06-2022.

Also at GENERAL ELECTRIC

Amy Gowder

Senior Vice President & CEO, Defense & Systems

Christian Meisner

Senior Vice President & Chief Human Resources Officer

JRPI

John R. Phillips III

Senior Vice President, General Counsel & Secretary

About

H. Lawrence Culp, Jr. is a seasoned executive born in the United States who has developed a strong educational foundation with a Bachelor's degree from Washington College and an MBA from Harvard Business School.

He began his distinguished career at Danaher Corporation, where he served in various leadership roles including CEO and President, before transitioning into academic and advisory roles at Harvard Business School and Bain Capital Private Equity.

He joined GE in April 2018 as an independent director and quickly rose through the ranks to become Chairman and CEO in October 2018, later taking on the role of CEO of GE Aerospace in June 2022. Under his leadership, GE underwent a significant transformation, culminating in the formation of three independent public companies through strategic spin-offs.

Past Roles

Organization	Role	Date Range	Details
Bain Capital Private Equity	Senior Advisor	2017 - 2018	No additional details available
Harvard Business School	Senior Lecturer	2015 - 2018	Held academic role before joining GE
Danaher Corporation	Senior Advisor	2014 - 2016	Served post tenure as CEO & President role
Danaher Corporation	CEO and President	2001 - 2014	Led the company; held various leadership roles including work at Veeder-Root since 1990

External Roles

Organization	Role	Date Range	Details
Washington College	Member and former Chairman, Board of Visitors & Governors	N/A	Active board position outside of GE
Wake Forest University	Member, Board of Trustees	N/A	Active board position outside of GE

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$2,250,000	Annual	Annual base salary for 2024; includes portion contributed to GE Aerospace RSP.
Base Salary (Employment Agreement)	$2,000,000 (effective July 1, 2024)	Annual (from July 1, 2024)	Reduced salary under the new employment agreement.
Regular 2024 Annual Stock Awards	$15,000,068	As per equity award vesting schedule	Grant date fair value of RSUs and PSUs granted in 2024 at target-level performance.
Spin-Off Equitable Adjustments	$234,945	Adjusted via SEC reporting	Adjustment to account for the GE Aerospace spin-off.
Change in Pension Value & Deferred Compensation	$1,325,765	Annual	Reflects change in pension value and deferred compensation for 2024.
All Other Compensation	$315,688	Annual	Includes retirement plan contributions, perquisites, and other benefits.

Performance Compensation

Data from FY 2024

CEO Incentive Grant (One-Time Equity Performance Award)

Metric	Value	Citation
Grant Date	July 1, 2024
Performance Metric	CAGR for adjusted EPS over 4 years ending Dec 31, 2027
Target Shares	310,289 shares
Payout Range	0% to 150% (0 to 465,433 shares)
Grant Date Fair Value (Target)	$49,326,642
Grant Date Fair Value (Max)	$73,990,043
Grant Date Stock Price	$158.97
Vesting Schedule	Vests at performance period end (post Dec 31, 2027) subject to performance and service conditions

2024 Portion of 2023 PSUs

Metric	Value	Citation
Grant Date	June 17, 2024
Performance Metrics	50% adjusted EPS; 50% free cash flow
Performance Levels	Threshold: 25%, Target: 100%, Maximum: 175%
Target PSUs	76,504 units
Grant Date Fair Value (Target)	$13,720,227
Grant Date Fair Value (Max)	$24,010,398
Grant Date Stock Price	$179.34
Vesting Schedule	Vestes over a 3-year performance period (2023, 2024, 2025); subject to a relative TSR modifier of ±20% vs. the S&P 500 Industrials Index

Existing Performance Share Grant (2020 Grant)

Metric	Value	Citation
Grant Date	August 18, 2020
Vesting Date	August 17, 2024
Performance Metric	CAGR for adjusted EPS
Payout Range	0% to 150% of target
Additional Details	Vesting contingent on achieving performance and service conditions aligned with long-term operating profit guidance for 2028
Grant Date Fair Value	Not disclosed	N/A
Grant Date Stock Price	Not disclosed	N/A