---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-284798"
form_type: "8-K"
ticker: "GM"
cik: "0001467858"
company_name: "General Motors Co"
filed_at: "2023-11-29T23:59:59+00:00"
generated_at: "2026-06-07T20:15:51.540374+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# GM reinstates 2023 guidance with strike impact, announces $10B share repurchase and 33% dividend increase

## Summary
- Reinstated 2023 EBIT-adjusted guidance of $11.7B-$12.7B, down from prior $12.0B-$14.0B due to $1.1B UAW strike impact.
- Announced $10.0B accelerated share repurchase (ASR) program; initial delivery and retirement of $6.8B in common stock.
- Plans to increase quarterly common dividend by $0.03 (33%) to $0.12 per share starting in Q1 2024.
- Entered new $3.0B 364-day delayed draw term loan credit agreement; terminated existing $6.0B revolving credit facility.
- Board authorized increase in share repurchase program to $11.4B total; expects $1.4B remaining capacity after ASR.

## SEC filing metadata
- accession: 0001193125-23-284798
- form_type: 8-K
- ticker: GM
- cik: 0001467858
- company_name: General Motors Co
- filed_at: 2023-11-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1467858/000119312523284798/0001193125-23-284798-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1467858/000119312523284798/d613794d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-284798
- JSON: https://secwatch.observer/filing/0001193125-23-284798.json
- Plain text: https://secwatch.observer/filing/0001193125-23-284798.txt

## Key facts
- Debt Financings
  General Motors Co incurred credit facility of $3 billion with Bank of America at Term SOFR loans, Daily Simple SOFR loans or an alternative base rate, each subje maturing November 27, 2024.
  - Instrument: credit facility
  - Principal: $3 billion
  - Counterparty: Bank of America
  - Rate: Term SOFR loans, Daily Simple SOFR loans or an alternative base rate, each subje
  - Maturity: November 27, 2024
  - Event: incurrence
  source text: period that lasts until June 28, 2024. Amounts repaid under the Credit Agreement may not be reborrowed and the aggregate amount of all loans outstanding may not exceed $3 billion. The final maturity date for any loans outstanding under the Credit Agreement is November 27, 2024. Interest rates on obligations under the Credit Agreement are based on
  evidence_url: https://www.sec.gov/Archives/edgar/data/1467858/000119312523284798/0001193125-23-284798-index.htm
- Material Agreements
  General Motors Co terminated October Facility with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders named therein valued at $6.0 billion (effective 2023-11-24).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders named therein
  - Value: $6.0 billion
  - Effective: 2023-11-24
  source text: On November 24, 2023, the Company terminated its $6.0 billion 364-Day Revolving Credit Agreement, dated as of October 3, 2023, with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders named therein (the “October Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1467858/000119312523284798/0001193125-23-284798-index.htm
- Material Agreements
  General Motors Co entered into ASR Agreements with Bank of America, N.A., Goldman Sachs & Co. LLC, Barclays Bank PLC, and Citibank, N.A. valued at $10.0 billion (effective 2023-11-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Bank of America, N.A., Goldman Sachs & Co. LLC, Barclays Bank PLC, and Citibank, N.A.
  - Value: $10.0 billion
  - Effective: 2023-11-29
  source text: On November 29, 2023, General Motors Company (the “Company” or “GM”) entered into a master confirmation (each a “Master Confirmation”) and supplemental confirmation (together with the related Master Confirmation, collectively, the “ASR Agreements”), with each of Bank of America, N.A. (“Bank of America”), Goldman Sachs & Co. LLC (“Goldman Sachs”), Barclays Bank PLC (“Barclays”), and Citibank, N.A. (“Citibank” and, collectively with Bank of America, Goldman Sachs, and Barclays, the “Counterparties”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1467858/000119312523284798/0001193125-23-284798-index.htm
- Material Agreements
  General Motors Co entered into Credit Agreement with Bank of America, as administrative agent, and the other lenders named therein valued at $3 billion (effective 2023-11-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, as administrative agent, and the other lenders named therein
  - Value: $3 billion
  - Effective: 2023-11-29
  source text: On November 29, 2023, the Company entered into a 364-Day Delayed Draw Term Loan Credit Agreement (the “Credit Agreement”) with Bank of America, as administrative agent, and the other lenders named therein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1467858/000119312523284798/0001193125-23-284798-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.