DIRECTV 2002 Annual Report Download - page 37

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HUGHES ELECTRONICS CORPORATION
PART II
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS
All of Hughes Electronics Corporation’s (“Hughes”) common stock and convertible preferred stock
are owned by General Motors Corporation (“GM”). Accordingly, there is no public trading market for
Hughes’ common or convertible preferred equity. Dividends on the common stock will be paid when
and if declared by Hughes’ Board of Directors. The convertible preferred stock does not accrue
dividends.
None of Hughes’ common stock is subject to outstanding options or warrants to purchase common
or preferred stock. The Hughes Series B Convertible Preferred Stock may be converted to Hughes
Class B common stock at the option of GM anytime after June 24, 2003. None of Hughes’ common
and convertible preferred stock currently can be sold under Rule 144. Hughes is not currently publicly
offering any of its common or convertible preferred stock. See Notes 16 and 17 of the Notes to the
Consolidated Financial Statements in Item 8 for further discussion.
ITEM 6. SELECTED FINANCIAL DATA
Omitted.
27