General Motors Company · NYSE:GM
General Motors — Shareholder Meeting (May 2024)
14 slides from General Motors's shareholder meeting presentation, May 28, 2024
Slide 1: 2024 General Motors Annual Meeting of Shareholders
2024 General Motors Annual Meeting of Shareholders M e e t i n g D a t e : J u n e 4 , 2 0 2 4 1
Slide 2: Company Overview and Executive Compensation Supplement
Company Overview and Executive Compensation Supplement General Motors Company (“GM” or the “Company”) is providing the following supplemental information regarding the Compensation Discussion and Analysis provided in the Company’s Proxy Statement for the 2024 Annual Meeting of Shareholders to be hel
Slide 3: Purpose and Vision
Purpose We pioneer the innovations that move and connect people to what matters Vision We see a world with Zero Crashes, Zero Emissions and Zero Congestion a n d o u r p e o p l e a r e t h e d r i v i n g f o r c e i n m a k i n g t h i s a r e a l i t y 3
Slide 4: Our Strategic Priorities
Our Strategic Priorities Deliver a Leading Customer Experience INTERNAL ELECTRIC SOFTWARE & AUTONOMOUS COMBUSTION VEHICLES SERVICES VEHICLES ENGINE VEHICLES Refresh and optimize Launch differentiated, Leverage technology Develop safe, highly profitable ICE purpose-built portfolio to generate revenue
Slide 5: CY 2023 Financial Highlights
CY 2023 Financial Highlights $171.8B $10.1B 5.9% $7.32 Net income Net sales and revenue EPS-Diluted Net Income Margin attributable to stockholders 1 $12.4B $7.68 7.2% 3,768K Wholesale Units EPS-Diluted-Adjusted EBIT-Adj. Margin EBIT–Adj. 1 2023 EBIT adj. includes $(1.1)B estimated impact due to ~95k
Slide 6: Improved Shareholder Returns
Improved Shareholder Returns Return Cash to Shareholders • Targeting consistent cash returns to shareholders • ~60% of cash flow generated in the last 3 years went to shareholders as a buyback or dividend • Increased dividend 33% from $0.09 per share to $0.12 per share effective in 2024 • We see opp
Slide 7: GM's Stock Return Has Outperformed Peers and the S&P 500 Since ASR Announcement
* Total Stock Return Since November 2023 GM’s Stock Return Has Outperformed Peers and the S&P 500 Since its Accelerated Share Repurchase Announcement *Represents stock price performance 11/28/2023 through 4/30/2024 (does not include the impact of dividends) 7 Dow Jones Automobiles & Parts Titans 30
Slide 8: History of Proactive Engagement and Board Responsiveness to Shareholder Feedback
History of Proactive Engagement and Board Responsiveness to Shareholder Feedback 8
Slide 9: STIP Results Reflect Strong Operational Execution
STIP Results Reflect Strong Operational Execution In Challenging Environment, Recognition of Need for Stock Price Appreciation STIP performance measures are linked to the Company’s annual financial goals and strategic goals that drive our long-term strategy. • Following our record EBIT-adjusted perf
Slide 10: Executive Compensation Aligned to Performance
Executive Compensation Aligned to Performance L T I P W o r k i n g a s D e s i g n e d Consistently Delivering Strong Results and Meeting or Exceeding our Financial Commitments • GM delivered strong financial performance in 2023 but underperformed relative to commitments on its transformation journ
Slide 11: Enhancements Driving Accountability and Execution
Enhancements Driving Accountability and Execution The Compensation Committee made several key enhancements to our compensation plans for 2024 that we believe will drive execution and hold management accountable for performance against specific, near-term strategic goals. At the same time, we are evo
Slide 12: Information Relevant To This Presentation
Information Relevant To This Presentation Cautionary Note on Forward-Looking Statements This communication and related comments by management, may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than sta
Slide 13: Reconciliation of EBIT-Adjusted and EBIT-Adjusted Margin
Reconciliation of EBIT-Adjusted and EBIT-Adjusted Margin ($B) YTD 2022 2023 Net sales and revenue 156.7 171.8 Net income (loss) attributable to stockholders 9.9 10.1 Net income margin 6.3% 5.9% Income tax expense (benefit) 1.9 0.6 Automotive interest expense 1.0 0.9 Automotive interest income (0.5)
Slide 14: Reconciliation of EPS-Diluted-Adjusted
Reconciliation of EPS-Diluted-Adjusted YTD All amounts in $B except EPS-diluted 2022 2023 Diluted earnings per common share $6.13 $7.32 1 1.46 1.36 Adjustments 2 (0.29) (0.37) Tax effect on adjustments 3 (0.33) (0.64) Tax adjustments 4 0.63— Deemed dividend adjustment EPS-diluted-adjusted $7.59 $7.6