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Contract Tweak Saves CEO Culp’s $124 Million Haul at GE

  • Culp’s targets were cut 47% after Covid sank the stock
  • Almost 58% of GE investors rejected the pay program this month
Larry Culp
Larry CulpPhotographer: John Tlumacki/The Boston Globe/Getty Images
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Larry Culp needed a mega-million do-over.

The pandemic was tanking General Electric Co. stock and pushing Culp’s big prize -- a $232 million equity windfall -- out of reach for the top executive.