Broadridge can support the sale of your shares if they are held in DRS (no certificates) as part of a Dividend Reinvest Plan (DRIP), Employee Stock Purchase Plan (ESPP) or Direct Stock Purchase Plan (DSPP). These instructions should provide the name, address and Social Security Number for each transferee and should indicate the number of shares to be transferred. *Average returns of all recommendations since inception. GE Transportation Tim Wesley, Wabtectwesley [at] wabtec [dot] com Sell the fractional share by the per share selling price determined by Step 5. EQ Shareowner Services is GEs transfer agent and administers all matters related to stock that is directly registered with GE. Upon closing, Wabtec shareholders will own approximately 49.9%, and it is planned that GE shareholders will own approximately 40.2%, and GE will own 9.9% of the merged company on a fully diluted basis. Ive had a series of email exchanges with the corporate actions team at Ameritrade. However, it will do little to appease dyed-in-the-wool bears worried about the sustainability of the company's dividend and restructuring prospects. New and overhauled GE locomotives come laden with sensors monitoring between 50 and 250 parameters, including vibrations, engine temperature, voltage and pressure. Wabtec shares rose 4.3 percent to $99.28. (If your numbers are universal, you bought Wabtec for 73.96/sh and sold the fractional for 72.7631/sh netting a short-term loss of $1.1969/Wabtec share). 2023-03 GE SCF Investor Report (PDF, 180 KB), 2022-12 GE SCF Investor Report (PDF, 70 KB), 2022-09 GE SCF Investor Report (PDF, 71 KB), 2022-06 GE SCF Investor Report (PDF, 182KB), 2022-03 GE SCF Investor Report (PDF, 182KB), 2021-12 GE SCF Investor Report (PDF, 182KB), 2021-09 GE SCF Investor Report (PDF, 181KB), 2021-06 GE SCF Investor Report (PDF, 71KB), 2021-03 GE SCF Investor Report (PDF, 79KB), 2020-12 GE SCF Investor Report (PDF, 64KB), 2020-09 GE SCF Investor Report (PDF, 72KB), 2020-06 GE SCF Investor Report (PDF, 72KB), 2020-03 GE SCF Investor Report (PDF, 79KB), 2019-12 GE SCF Investor Report (PDF, 380KB), 2019-09 GE SCF Investor Report (PDF, 383KB), 2019-06 GE SCF Investor Report (PDF, 369KB), 2019-03 GE SCF Investor Report (PDF, 353KB), 2018-12 GE SCF Investor Report (PDF, 59KB), 2018-09 GE SCF Investor Report (PDF, 88KB), 2018-06 GE SCF Investor Report (PDF, 88KB), 2018-03 GE SCF Investor Report (PDF, 88KB), 2017-12 GE SCF Investor Report (PDF, 87KB), 2017-09 GE SCF Investor Report (PDF, 35KB), 2017-06 GE SCF Investor Report (PDF, 160KB), 2017-03 GE SCF Investor Report (PDF, 160KB), 2016-12 GE SCF Investor Report (PDF, 160KB), 2016-09 GE SCF Investor Report (PDF, 155KB), 2016-06 GE SCF Investor Report (PDF, 160KB), 2016-03 GE SCF Investor Report (PDF, 160KB), 2015-12 GE SCF Investor Report (PDF, 159KB), 2015-09 GE SCF Investor Report (PDF, 159KB), 2015-06 GE SCF Investor Report (PDF, 175KB), 2015-03 GE SCF Investor Report (PDF, 154KB), 2014-12 GE SCF Investor Report (PDF, 158KB), 2014-09 GE SCF Investor Report (PDF, 159KB), 2014-06 GE SCF Investor Report (PDF, 161KB), 2012-12 GE SCF Investor Report (PDF, 155.0KB), 2012-09 GE SCF Investor Report (PDF, 155.0KB), 2012-06 GE SCF Investor Report (PDF, 155.0KB), 2012-03 GE SCF Investor Report (PDF, 156.0KB), 2011-12 GE SCF Investor Report (PDF, 154KB), 2011-09 GE SCF Investor Report (PDF, 156.0KB), 2011-06 GE SCF Investor Report (PDF, 157.0KB), 2011-03 GE SCF Investor Report (PDF, 100.0KB), 2010-12 GE SCF Investor Report (PDF, 101.0KB), 2010-09 GE SCF Investor Report (PDF, 100.0KB), 2010-06 GE SCF Investor Report (PDF, 101.0KB), 2010-03 GE SCF Investor Report (PDF, 101.0KB), 2009-12 GE SCF Investor Report (PDF, 101.0KB), 2009-09 GE SCF Investor Report (PDF, 98.8KB), CAUTION CONCERNING FORWARD LOOKING STATEMENTS. An analyst with a more pessimistic approach would worry about continued deterioration in the power segment and therefore see the cash from Wabtec as small potatoes compared to what GE could need to realize its restructuring plans while maintaining its current dividend. The influx of $2.9 billion in cash from Wabtec won't impress the bears much. The combined company, which is expected to have revenues of more than $8 billion in 2019, has a compelling growth profile, especially as market conditions improve in the industries it serves. You can also listen to the webcast by going to Wabtecs new website at www.WabtecCorp.com and clicking on Events & Presentations in the Investor Relations section. Investors are expected to benefit through ownership of a stronger, more diverse business better positioned to perform through the cycle, with expected annual double-digit EPS growth and total run-rate synergies of about $250 million estimated to be achieved by 2022. Wabtec Media Contact 2023 Wabtec Corporation. Upon completion of the merger, GE shareholders are expected to collectively own approximately 24.3% of the outstanding shares of Wabtec common stock, and current Wabtec shareholders are expected to collectively own approximately 50.8%. Securities and Exchange Commission (SEC) regulations define the financial institutions that are eligible to provide such signature guarantees, e.g., commercial banks, brokers, credit unions, savings and loan institution. You can also buy GE stock through brokerage firms that act as a facilitator between individual investors and GE. GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio. $78.06, establishes the shareowners cost basis in Wabtec shares going forward. Second, it's worth noting that Wabtec is merging with GE Transportation at a cyclical low point. GE's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. Explore a career with us. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents GE, Wabtec and/or SpinCo may file with the SEC in connection with the proposed transaction. If you hold them directly, you should receive them that way. Explore the latest stories, news, downloads, and press tools. Why Shares in General Electric Crushed the Market in March, Why Shares in General Electric Beat the Market Today. I received the following email from GE Investor Relations. The company unveiled the Tier 4 locomotive a few years ago. At GE, we are committed to building a more diverse workforce and a more inclusive workplace. Were continuing to do all we can to support our customers and employees during this unprecedented time. What is the per share cost basis for the partial share? That should wipe out the cash received in the dividend. Please use another web browser to access this website. Change your elections by completing the form on your account statement and returning it to Broadridge. GE also received approximately $2.9 billion in cash at closing. Explore GEs recent and historic SEC filings. In some cases additional documents will be required to complete the transfer. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. Wabtec is currently in the S&P Midcap 400 index, but its current pre-merger market cap is already above many S&P 500 constituents. Several types of Joint Registration exist including Joint Tenants with right of survivorship, Tenants by the Entirety and Tenants in common. Due to low participation, GE ended the Stock Redemption program on November 10, 2016 for GE Stock Direct Investors. Broadridge will send you the documents necessary to obtain replacement certificates along with instructions to complete them. An audio webcast of the investor call can be accessed at https://engage.vevent.com/rt/kekstandcompanyao~1688628. The letter from GE HR to retirees in the RSP was not clear at all. GE shares rose 2.8 percent to $15.39. Explore GEs recent and historic SEC filings. Changing plan electionsYou may change your plan investment decisions by taking the following steps: Selling shares held in a planYou may sell shares held in a plan by taking one of the following steps: When will I receive my 1099?Form 1099s are typically mailed or sent electronically in January according to IRS guidelines. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) that one or more closing conditions to the transaction, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the proposed transaction, may require conditions, limitations or restrictions in connection with such approvals or that the required approval by the stockholders of Wabtec may not be obtained; (2) the risk that the proposed transaction may not be completed on the terms or in the time frame expected by GE or Wabtec, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction; (4) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; (5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of GE, Wabtec and SpinCo; (6) the ability of the combined company to implement its business strategy; (7) difficulties and delays in achieving revenue and cost synergies of the combined company; (8) inability to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination of the proposed transaction; (10) the risk that stockholder litigation in connection with the proposed transaction or other settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general economic and/or industry specific conditions; (13) actions by third parties, including government agencies; and (14) other risk factors as detailed from time to time in GEs and Wabtecs reports filed with the SEC, including GEs and Wabtecs annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE DOCUMENTS WHEN THEY BECOME AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, AND OTHER DOCUMENTS FILED BY GE, WABTEC OR SPINCO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Our two companies have more than 250 years of rail industry heritage, and our shared focus on safety, reliability, quality, and customer relationships will enable a smooth integration., Santana said: The combination of our two strong brands and remarkable people is an excellent fit that will create an organization well-positioned to accelerate the future of transportation. GE will designate for nomination three independent Board members. Invest better with The Motley Fool. Split Adjustment 1. On May 21, 2018, GE and Wabtec confirmed the merger of GE Transportation with Wabtec in an $11 billion deal, completed on February 25, 2019, that saw Wabtec shareholders take a 50.8% shareholding in the merged . 30 Isabella Street The ex-dividend date is December 20, 2021. If you wish to move your shares from registered to beneficial ownership, Broadridge or your broker will help you do so. By bringing together our highly complementary strengths we are confident that this transformational combination will create value for both Wabtec and GE shareholders, innovative solutions for our customers, and new outlets for long-term career growth for our employees. This feels a bit disappointing as I have some doubts on the operating execution. All Rights Reserved. With this transaction, GE sold a portion of GE Transportation assets to Wabtec, spun off a portion of GE Transportation to GE shareholders and then GE Transportation merged with a wholly owned subsidiary of Wabtec. For example: Mary Jones Tr U/A dtd 4/15/98 The Mary Jones Trust FBO Mary Jones. The transit portfolio provides highly-engineered systems and services to virtually every major rail transit system around the world, supplying an integrated series of components for buses and all train-related market segments that deliver safety, efficiency and passenger comfort. ", Broadridge Corporate Issuer Solutions P.O. As it stands, GE expects $6 billion to $7 billion in industrial FCF in 2018, which is intended to fund a $4.2 billion dividend payment. Since GE Transportation is only expected to start to rebound from a cyclical low in 2018, even the EV/EBITDA multiple for 2019 is still likely to reflect cyclicallylow earnings. If you own stock through a broker, sign up at Broadridge. A custodial registration requires the names of the custodian and the beneficial owner. Current Shares. Together with our customers, were proving that no one is ever limited to only affordable, reliable, or sustainable energy. Wabtec shareholders own approximately 50.8% of Wabtec on a fully diluted basis and GE shareholders own approximately 24.3% of Wabtec on a fully diluted basis. DSPP Some companies offer DSPPs, so please visit your online account to determine if a plan is available to you. GE Transportation has a backlog of roughly $18 billion, including approximately 1,800 new locomotives and roughly 1,000 locomotive modernized units. Phone: 412-825-1000 I'm trying to record the spin-off of Wabtec from GE (using the corporate spin-off transaction) but I continue to get errors. I give up! The company employs approximately 9,000 employees worldwide. Locomotive; Freight Car; Freight Services; Please send us a letter of instruction signed by all registered owners stating your intent to transfer. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. What do GE shareholders get for Wabtec? announced that it had entered into an agreement to sell Shareowner Services to Equiniti Group plc (Equiniti Group). Meanwhile, the structure of the deal is a nice way to return capital to GE shareholders. In connection with the proposed transaction between GE and Wabtec, Transportation Systems Holdings Inc., a wholly owned subsidiary of GE created for the transaction (SpinCo), will file with the SEC a registration statement on Form S-4/S-1 containing a prospectus or a registration statement on Form 10 and Wabtec will file with the SEC a registration statement on Form S-4 that will include a combined proxy statement/prospectus. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the relevant materials when filed with the SEC. Current Value % Return 33.32%. This enhanced capability is expected to drive significant productivity for customers by delivering improved cycle time, lower production costs and better asset performance. I am totally confused. What's more, the deal has been structured in a tax-efficient manner. As a result of an internal reorganization undertaken by General Electric Company, interest payments made after November 25, 2018 will be treated as U.S.-source interest for U.S. federal income tax purposes. If you have not established an online account, you may follow the online instructions or contact us via the 800 number on your account statement or this site. Wabtec shareholders own approximately 50.8% of Wabtec on a fully diluted basis and GE shareholders own approximately 24.3% of Wabtec on a fully diluted basis. A notary stamp is not acceptable when transferring the ownership of stock. Raymond T. Betler, Wabtecs president and CEO, said: We are very excited to complete the merger of our two companies. Read GEs 2022 Proxy Statement, vote your shares and access the 2022 Annual Meeting. I have read everything here and see that $73.96 per share is used to record the buying of the Wabtec shares and that is the closing price on Feb 26, 2019. Improve utilization and accelerate path to automation: The seamless combination of GE Transportations digital solutions and analytics systems with Wabtecs electronic systems and Positive Train Control (PTC) capabilities, is expected to improve safety, efficiency and productivity across the transportation industry and accelerate railroads path to advanced train automation. Morgan Stanley & Co. LLC and Dyal Co. LLC are acting as financial advisors, and Davis Polk & Wardwell LLP as legal advisors, to GE in the transaction. Access important shareholder information. Access GEs recent and historic Annual Reports and accompanying materials. Following the completion of the transaction, Stphane Rambaud-Measson will become president and CEO of Wabtecs Transit Segment; and Rafael Santana, president and CEO of GE Transportation, will become president and CEO of Wabtecs Freight Segment. DRIP - You may elect to have your dividends reinvested in any of the following ways: Make the selection via your online account. Learn more about our culture, businesses, and life at GE. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. An overhaul can lower the amount of fuel the locomotives need by 10 percent, increase reliability by 40 percent and boost their ability to haul cargo by 50 percent. Wells Fargo Shareowner Services (Shareowner Services), a division of Wells Fargo Bank N.A., has served as the transfer agent & registrar for GE. Historic cost basis in GE shares is unchanged and irrelevant to determining the Fax: 412-825-1019. The 23 analysts offering price forecasts for Wabtec have a median target . Please see attached notice for additional details. Begin typing your search term above and press enter to search. If you have lost your share certificates, we can help replace them, by following these steps: Broadridge Corporate Issuer SolutionsP.O. GE Transportation is positioned for a substantial rebound, with estimated adjusted EBITDA growing from about $750 million in 2018 to between $900 million and $1 billion in 2019. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. Wabtec Completes Successful Merger With GE Transportation Press Release (PDF). Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. Create a leading equipment, aftermarket services, and digital solutions provider across the transportation ecosystem: From factory to final destination and every point in-between the combined company will have the capabilities to accelerate lifecycle solutions for the transportation industry and unlock significant productivity for customers by improving interoperability, efficiency, and competitiveness. How do I know which date 2/25 or 2/26 and if to use the Close or High & Low divided by 2? basis of Wabtec shares going forward. The GE Transportation business is positioned for a significant rebound, with estimated adjusted EBITDA growing from about $750 million in 2018 to between $900 million and $1 billion in 2019. Under the agreement, which has been approved by the Boards of Directors of Wabtec and GE, GE will receive $2.9 billion in cash at closing and GE and its shareholders will receive a 50.1% ownership interest in the combined company, with Wabtec shareholders retaining 49.9% of the combined company. If you want to sell your shares of GE stock, please contact GEs current transfer agent, Equiniti Trust Company (EQ). It is suggested that the shipment be insured for 2% of the current value of the shares. GE Transportation has received $3.6 billion in orders in the last two quarters. We're focused on driving ongoing safety, innovation, efficiency, reliability, and productivity. Wabtec is a leading supplier of critical components, locomotives, services, signaling and logistics systems and services to the global rail industry. If the transaction is effected via an exchange offer, GE will also file with the SEC a Schedule TO with respect thereto. Wabtec Corporation. This information does not constitute tax advice. Include any additional instructions indicating how you wish the shares to be transferred. Box 64854 GE will not be filing Form 8937 because 773.297.0482, Wabtec Investor Contacts GE Reverse Stock Split Frequently Asked Questions. TRANSACTION DETAILS This merger establishes Wabtec as a Fortune 500, global transportation and logistics leader by combining Wabtecs broad range of freight, transit and electronics products with GE Transportations best-in-class equipment, services and digital solutions in the locomotive, mining, marine, stationary power and drilling industries. Multiply your number of GE shares on 2/25/19 by 0.005371. How can I sell my shares that are held in certificate form? Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. Buy the number of shares of WABTEC per step 1 at a per share price of $73.96. 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. GE plans to sell . We recommend that all certificates be sent by registered mail, return receipt requested. Wabtec and GE Transportation to Merge, Creating Global Leader for Rail Equipment, Services and Software (PDF). https://www.sec.gov/Archives/edgar/data/943452/000114036119001550/s002443x10_s4a.htm, https://www.quicken.com/support/how-do-i-record-corporate-spin-new-securities, https://www.sec.gov/Archives/edgar/data/40545/000119312518172907/d591170d8k.htm, https://globenewswire.com/news-release/2019/01/25/1705540/0/en/Wabtec-and-GE-Modify-Terms-of-Transaction-Expect-to-Close-By-End-of-February-2019.html, Div from GE @ $0.397239/GE share (0.005371 * 73.96), Buy (0.005371 * GE Share Quantity) shares of Wabtec for that whole dividend amount. We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better. What are "street name shares" or "beneficial shares"? There was no explanation as to why this was done. You can also access the link by going to www.wabtec.com and clicking on the Webcasts tab in the Investor section. GE announced today that it has completed the spinoff and merger of its Transportation business with Wabtec Corporation. For GE shareholders who received shares of Wabtec stock as part of the Wabtec- GET Merger, the cost basis in the Wabtec stock received is $78.06 per share, which was the closing price per share on February 25, 2019. The date of record for the transaction is February 14th and GE shareholders as of that date will receive ~0.005403 shares of Wabtec for each GE common share owned. A replay will also be available at the same link after the event. As we previously reported, GE Transportation has a long history of innovation, stretching from the first electric locomotives to the first freight locomotive that meets the U.S. governments strictTier 4 emission standards. Tune in or catch up on GEs latest investor events and reports. I failed. Were deeply proud of GE employees around the world rising to the challenge. I'm looking for someone to tell me how! If you hold your shares in a brokerage account, the new shares will show up there. On July 27, 2015, Wabtec announced that it plans to purchase 51% of Faiveley Transport's shares in a cash-and-stock deal valued .

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