Investors: Frequently Asked Questions
- Q: When was General Motors Company’s public offering?
General Motors Company announced pricing of the public offering of common stock of $33.00 per share on November 17, 2010. GM’s common shares began trading on the New York Stock Exchange and the Toronto Stock Exchange on November 18, 2010.
Concurrently, GM also announced the terms of its Series B mandatory convertible junior preferred stock also trading on the New York Stock Exchange.
- Q: What is General Motors Company’s ticker symbol and what exchanges is GM traded on?
- A: General Motors Company’s common stock is traded on the New York Stock Exchange under the ticker symbol GM and the Toronto Stock Exchange under the ticker symbol GMM. General Motors Company’s Series B mandatory convertible junior preferred is traded on the New York Stock Exchange under the ticker symbol GM PR B.
- Q: Do any of General Motors Company’s publicly available securities pay dividends?
Declaration of any dividend on our common stock or Series B preferred stock is at the sole discretion of the General Motors Board of Directors. We have no current plans to pay dividends on our common stock.
We expect to pay holders of shares of our Series B preferred stock, cumulative dividends at the rate per annum of 4.75% on the liquidation preference of $50 per share. These dividends are payable in cash, and/or shares of our common stock (subject to certain restrictions). Dividends on the Series B preferred stock will be payable quarterly on March 1, June 1, September 1, and December 1 of each year to and including the mandatory conversion date, commencing March 1, 2011.
- Q: Who is General Motors Company’s stock transfer agent and what is their role?
General Motors Company’s registrar and stock transfer agent is Computershare Trust Company, N.A. Computershare maintains the record of GM’s stock ownership by registered stockholders (those whose accounts are maintained in their name by Computershare). If you are a registered stockholder and need assistance with your account, such as updating your mailing address, obtaining stock account information or transferring your stock, please contact Computershare by telephone, toll-free at 888-887-8945. Stockholders outside the United States, Canada, or Puerto Rico may call 1+781-575-3334, automated information is available 24 hours a day. Computershare phone representatives are available Monday through Friday from 9 a.m. to 6 p.m. ET.
Registered stockholders can access their accounts via the Internet at www.computershare.com/gm to view share balance, current market value, historical stock prices, and frequently asked questions and to download and print forms. If you need help with your stock account held through a brokerage firm, contact your broker directly for assistance.
- Q: Is it possible to get a stock certificate for my share holdings?
- A: General Motors Company does not issue stock certificates. Rather, GM uses a form of registered stock ownership called book entry or Direct Registration Profile System (DRS). The book-entry owners of the security are registered on the books of the company and, in lieu of certificates, stockholders receive statements of holding. Book-entry ownership is more convenient for investors because it eliminates the risk of lost or stolen certificates and the cost to replace the lost or stolen certificates, and the sale or transfer of the stock is simplified.
- Q: When was General Motors Company incorporated?
- A: General Motors Company was incorporated in the state of Delaware on July 10, 2009. General Motors Company began its operations when it acquired substantially all of the assets of Motors Liquidation Company (formally, General Motors Corporation) in July 2009.
- Q: How can I be notified of General Motors Company’s SEC filings and other important announcements or events?
- A: You can register to automatically receive email alerts concerning General Motors Company’s recent SEC filings or notification of important GM announcements and events on our Investor website at http://www.gm.com/investors/
- Q: How can I obtain General Motors Company’s financial documents?
- A: GM is required to file periodic reports electronically with the SEC through Edgar. These publicly disclosed electronic documents can be found on the SEC Edgar website, http://www.sec.gov/edgar.shtml, or on GM’s investor relations website http://www.gm.com/investors/sec-filings/
- Q: Please explain why I received these warrants?
- A: The warrants for General Motors Company (New GM) common stock were issued to Motors Liquidation Company in connection with the creation of New GM. Motors Liquidation Company was responsible for the distribution of common stock and warrants in the New GM to unsecured creditors in accordance with the bankruptcy plan, which was confirmed by the bankruptcy court on March 31, 2011.
- Q: Are the warrants currently exercisable and/or tradable?
- A: Both Warrant A, expiring July 10, 2016 with CUSIP 37045V118, and Warrant B, expiring July 10, 2019 with CUSIP 37045V126, are currently exercisable and tradable. As of April 25, 2011, the exercise price for Warrant A expiring July 10, 2016 (CUSIP 37045V118) is $10 and the exercise price for the warrant B expiring July 10, 2019 (CUSIP 37045V126) is $18.33. Strike prices may change due to certain events, such as a stock dividend or stock split. There are no restrictions on shares of common stock post exercise.
- Q: How was the amount determined for the number of shares and warrants that I received?
- A: Motors Liquidation Company was responsible for the distribution of common stock and warrants in the new GM to unsecured creditors in accordance with the bankruptcy plan, which was confirmed by the bankruptcy court on March 31, 2011.
- Q: Please describe my options to exercise the warrants?
- A: Holders have the right to full physical settlement or net share settlement. In full physical settlement, holders must pay the exercise price, which currently is $10 for Warrant A (CUSIP 37045V118) and $18.33 for Warrant B (CUSIP 37045V126), (plus any associated fees charged by the broker, etc) in order to receive one share of common stock for each warrant exercised. In a net share settlement, the transaction is cashless (unless there are associated fees charged by the broker, etc) where the number of shares of common stock to be delivered is equal to the Net Share Settlement Price (equal to the volume weighted average price of prior 20 trading days on the New York Stock Exchange for common stock) minus the associated exercise price divided by the Net Share Settlement Price. All fractional shares will be paid in cash. Please check with your broker or financial advisor for exact details and definitions.
- Q: What is my cost basis for the warrants and common stock I received from the MLC bankruptcy?
- A: The receipt of new GM stock and warrants by Motors Liquidation Company (MLC) bondholders was generally not a taxable event. Your historic cost basis in your Motors Liquidation Company debt is your basis in the GM stock and warrants received. The basis should be spread to the assets received pro rata based on value. You may want to seek the advice of a tax advisor and or your financial advisor for assistance in determining your cost basis and allocation between the various assets received, or if you received additional assets from MLC.
- Q: How do I obtain further information about the warrants I received pursuant to the confirmed bankruptcy plan?
- A: You should contact your broker or financial advisor for assistance specific to your investment, including assistance to exercise your warrants. There is additional information available at www.mlcguctrust.com
- Q: Did the old General Motors Corporation common stock, CUSIP 370442105, become the new General Motors Company common stock and, if not, does the stock currently have any value?
- A: No. The old GM Corporation common stock became Motors Liquidation Company common stock in June 2009, and traded as MTLQQ on the over the counter market until the confirmed bankruptcy plan cancelled the shares on March 31, 2011. The stockholders did not receive any consideration for their holdings and the stock no longer has value.
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