Reinseth Theresa E 4

What Happened

Theresa E. Reinseth, Senior Vice President & Chief Accounting Officer of 3M (MMM), exercised options to acquire 3,349 shares on Feb 11, 2026, at $154.69 per share for a cash cost of about $518,057. On the same day she executed multiple open-market sales totaling 5,145 shares at prices around $172.73–$172.79, generating approximately $888,797 in proceeds. The filing also shows a related derivative disposition of 3,349 shares at $0 (reported separately).

Key Details

• Transaction date: 2026-02-11; Form 4 filed 2026-02-12 (no late filing indicated).
• Option exercise: 3,349 shares acquired at $154.69 — total cash outlay ≈ $518,057.
• Open-market sales: 5,145 shares sold in five trades (prices $172.72–$172.79) — total proceeds ≈ $888,797; average sale price ≈ $172.78.
• Additional derivative line: 3,349 shares reported disposed at $0 (likely related to the exercise/conversion; shown separately on the form).
• Shares owned after the transactions: not specified in the provided extract.
• Footnote F1: includes shares acquired pursuant to 3M’s Dividend Reinvestment Plan.

Context

• Options exercise followed by same-day sales is commonly a cashless or sell-to-cover pattern (exercise to acquire shares, then sell shares to cover the exercise cost/taxes), but the filing itself does not state motivations. The presence of a separate $0 disposal line indicates a conversion/adjustment related to the exercised derivative.
• These are insider transactions by an executive (not a 10% owner). Sales netted more cash than the exercise cost, but purchases (the exercise) represent an acquisition of shares via option exercise rather than an open-market buy.