3M (MMM) EVP John Patrick Banovetz Withholds 5,629 Shares for Taxes

What Happened
John Patrick Banovetz, Executive Vice President of 3M Company (MMM), had 5,629 shares withheld on 2026-02-02 to cover tax liabilities related to equity awards. The transaction is reported as a disposition with a reported price of $0.00 and total proceeds of $0 (tax withholding rather than an open-market sale).

Key Details

• Transaction date: 2026-02-02
• Transaction type/code: Tax withholding to pay tax liability (Form 4 code F)
• Shares withheld/disposed: 5,629; reported price: $0.00; total reported proceeds: $0
• Filing: This is an amended Form 4 filed 2026-02-18 updating the actual number of shares withheld (footnote F1 indicates the originally reported withholding was an estimate)
• Shares owned after transaction: not specified in the provided excerpt

Context
Share withholding to satisfy tax obligations is a routine administrative disposition common when options vest or restricted shares settle. It is not an open-market sale and generally does not signal insider sentiment about the company’s stock. The amendment simply corrects the previously estimated withholding figure to the actual number.