General Motors has filed new forms with the Securities and Exchange Commission earlier this month. In one of the documents filed, GM states it will be increasing the number of shares it plans to award senior executives as part of their compensation plan from 10 million to 25 million shares.
The plan outlined in the filing will also allow any senior executive to receive up to 1 million options, or 250,000 stock units. GM spokeswoman Noreen Pratscher went on to claim that the new plan also complies with rules governing executive pay for companies that received bailout funds. Now if we only knew when the IPO will take place…
Source: Bloomburg Businessweek