DETROIT -- General Motors Co. (GM) has completed a voluntary contribution of 60.6 million shares of GM common stock to its U.S. hourly and salaried pension plans. This contribution, valued at approximately $2 billion, completes the estimated $6 billion contribution the automaker announced in October, consisting of $4 billion in cash and $2 billion in stock.
There were 40.4 million shares contributed to the hourly plan and 20.2 million shares to the salaried plan.
"We continue to take the steps necessary to lower our risk profile, so our focus can be on designing, building and selling the world's best vehicles," said Chris Liddell, GM vice chairman and CFO.
