General Motors Company
General Motors Company
General Motors Company
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Certain Beneficial Owners<br />
The beneficial ownership as of March 15, 2011 of Common Stock by each person or group of persons who<br />
is known to be the beneficial owner of 5% or more of our outstanding shares of Common Stock is shown in the<br />
following table.<br />
Name and Address of Beneficial Owner of Common Stock<br />
The United States Department of the Treasury<br />
1500 Pennsylvania Avenue, NW<br />
Washington, D.C. 20220<br />
Canada GEN Investment Corporation<br />
1235 Bay Street, Suite 400<br />
Toronto, Ontario, Canada M5R 3K4<br />
UAW Retiree Medical Benefits Trust<br />
P.O. Box 14309<br />
Detroit, MI 48214<br />
<strong>Motors</strong> Liquidation <strong>Company</strong><br />
41 S. Old Woodward<br />
Suite 370<br />
Birmingham, MI 48009<br />
Number of<br />
Shares<br />
Percent of<br />
Outstanding Shares<br />
500,065,254 32.04%<br />
140,084,746 8.98%<br />
205,605,545(1) 12.80%<br />
422,727,270(2) 23.06%<br />
(1) Includes 45,454,545 shares of Common Stock issuable upon exercise of a warrant issued to the VEBA Trust<br />
in connection with the 363 Sale. The warrant is exercisable at any time before December 31, 2015, with an<br />
exercise price of $42.31 per share.<br />
(2) Includes 272,727,270 shares of Common Stock issuable upon exercise of two warrants issued to MLC in<br />
connection with the 363 Sale, each to acquire 136,363,635 shares. One warrant is exercisable at any time<br />
before July 10, 2016, with an exercise price of $10.00 per share, and the other warrant is exercisable at any<br />
time before July 10, 2019, with an exercise price of $18.33 per share. After the reporting date for this table,<br />
MLC reported that on March 30, 2011 it entered into a trust agreement under which MLC shares dispositive<br />
power over the Common Stock reported in the table and the two warrants with <strong>Motors</strong> Liquidation<br />
<strong>Company</strong> GUC Trust and Wilmington Trust <strong>Company</strong> as trust administrator.<br />
Stockholders Agreement<br />
Three of our stockholders—the UST, Canada Holdings, and the VEBA Trust—have entered into a<br />
Stockholders Agreement with us (the “Stockholders Agreement”) under which at least two-thirds of the directors<br />
are required to be determined by our Board of Directors to be independent within the meaning of NYSE rules.<br />
As long as the VEBA Trust holds at least 50% of the shares of Common Stock it held at the date of the<br />
Stockholders Agreement, it has the right under the Stockholders Agreement to designate one nominee to our<br />
Board of Directors. The VEBA Trust’s choice is subject to the consent of the International Union, United<br />
Automobile Aerospace and Agricultural Implement Workers of America (“UAW”) and, if its designee is not<br />
independent, to the consent of the UST. Under this provision, the VEBA Trust designated Mr. Girsky, who was<br />
nominated by the Board as part of the slate of candidates it recommends for election at the annual meeting.<br />
The Stockholders Agreement provides that the UST and Canada Holdings (the “Government Holders”) will<br />
not vote their shares of Common Stock, with certain exceptions. With regard to the election of directors, the<br />
Government Holders will vote for any nominee designated by the VEBA Trust as described above and otherwise<br />
will vote at their discretion with respect to any candidates nominated by the Board of Directors or third parties.<br />
With regard to the other matters to be presented to the stockholders at the annual meeting, if the vote of the<br />
Government Holders is required for stockholder action, they will vote in the same proportionate manner as the<br />
holders of Common Stock other than the VEBA Trust and its affiliates and the directors and executive officers of<br />
the <strong>Company</strong>. Similarly, the Stockholders Agreement further provides that the VEBA Trust will vote its shares of<br />
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