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[QUOTE]Originally posted by Jo4321: [QB] How bout this one: GE CEO Immelt buys 83,000 shares October 23, 2007: 08:10 AM EST Oct. 23, 2007 (Thomson Financial delivered by Newstex) -- NEW YORK (AP) - The chairman and chief executive of General Electric Co. bought 83,000 shares of common stock Monday, spending more than $3.3 million, according to a filing with the Securities and Exchange Commission. In a Form 4 filed with the SEC, Jeffrey R. Immelt reported he bought the shares for between $40.03 and $40.13 apiece. The purchase brought Immelt's direct holdings of the entertainment and industrial conglomerate's stock to more than 1.07 million shares, for a total value of more than $43 million, based on GE's (NYSE:GE) closing price of $40.17 Monday. Immelt also holds 20,777 shares through a 401(k) plan, according to the filing. According to media reports, the purchase was Immelt's largest to date in dollar value, and his holdings are well above company guidelines that require him to own six times the value of his salary in stock. Immelt received $15.2 million in compensation in 2006, according to a company proxy filed in February. That was made up of $3.3 million in salary, a $5 million bonus and $548,013 in other benefits, including private use of company airplanes, and performance share units valued at $6.3 million on the day they were granted last year. The performance units will convert into GE stock after five years if the company meets certain financial benchmarks, according to the proxy. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction. General Electric is based in Fairfield, Conn. [/QB][/QUOTE]
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