Banovetz John Patrick 4

What Happened John Patrick Banovetz, Executive Vice President of 3M Company (MMM), was issued 12,513.696 shares as a performance-based award that vested and was certified on Feb 2, 2026 (reported acquisition, Code A). To cover the tax liability on the award, 4,859 shares were withheld/retired (reported disposition, Code F). The filing reports $0.00 as the acquisition and withholding price because these shares were issued as compensation rather than purchased.

Key Details

• Transaction date: Feb 2, 2026; Form 4 filed Feb 4, 2026.
• Award: 12,513.696 shares issued (Code A) at $0.00 (compensation award).
• Tax withholding: 4,859 shares withheld/disposed (Code F) at $0.00; withholding amount was estimated and may be revised (Footnote F2).
• Footnotes: F1 — award was granted March 1, 2023 and performance vesting was certified on Feb 2, 2026; F2 — estimated tax withholding; F3/F4 — filing notes inclusion of shares from the ESPP and dividend equivalents in holdings (as applicable).
• Shares owned after transaction: not specified in the filing.
• Timeliness: filing date is Feb 4, 2026 for the Feb 2, 2026 transaction (no late-filing flag shown).

Context This was a compensation-related vesting of performance shares (not an open-market buy or sale). The award reflects achievement of pre-set performance goals and the net shares delivered to the executive were reduced by share withholding for taxes. Such award issuances are routine for executives and do not by themselves signal an insider buying or selling shares in the open market.