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Major owner of Baker Hughes a GE Co just disposed of 53,720,040 shares

Electric Co General, a major owner of Baker Hughes a GE Co and a director of the company, recently disposed of 53,720,040 shares of the company. The disposals took place at prices ranging from $0.00 to $23.36 per share, on August 03, 2021. General now owns just 35,300,718 shares of the company. General operates out of Boston, MA. Some additional info was provided as follows:

The reporting person sold the shares of Class A Common Stock of the Issuer to an unaffiliated financial institution at a price based on the volume weighted average price of Class A Common Stock of the Issuer over the financial institution's hedging period undertaken pursuant to a post-paid forward transaction. The Reporting Person holds these securities through a wholly-owned subsidiary. Each share of Class B Common Stock, together with a Common Unit of Baker Hughes Holdings LLC (collectively, a "Paired Interest"), is exchangeable for a share of Class A Common Stock. The Paired Interests were acquired by the Reporting Person in connection with the transactions described in the prospectus filed by the Issuer on May 30, 2017 pursuant to Rule 424(b)(3).

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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