GM to pay long-term executive incentive in cash

Newswire

DETROIT, Jan 21 (Reuters) - General Motors Corp. said on Friday it has approved a long-term incentive plan for its about 425 senior executives that will award cash payments instead of stock, as in the past. GM, the world's largest automaker, made the change in the long-term incentive plan in order to minimize dilution of GM stock when the awards are granted, said spokesman Mark Tanner. "It's consistent with our strategy to reduce dilution," he said. The long-term plan awards executives ...

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