3D Systems (NYSE: DDD) sets CEO transition with six-month consulting role
Rhea-AI Filing Summary
3D Systems Corporation announced a CEO transition plan in which Dr. Jeffrey A. Graves will step down as President, Chief Executive Officer and Board member once a successor is hired, which is expected later in 2026. He will continue in his current roles until the new CEO commences employment, then serve as a consultant for six months.
An Executive Severance and Release Agreement provides, upon his employment termination, 150% of his current annual base salary paid in 18 installments, continued Company-paid medical premiums under COBRA for up to 18 months, and a lump sum equal to 50% of his current annual base salary. Certain restricted stock awards will continue to vest through April 2027, and he remains eligible to vest in 2024 performance-based RSUs that may vest in April 2027, subject to performance goals and continued service. Severance benefits are conditioned on Dr. Graves providing and reaffirming a full release of claims and complying with existing restrictive covenants. The Board has begun a CEO search and engaged an executive search firm.
Positive
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Filing Explained
After a successor starts and Dr. Graves’s employment ends, his six-month consulting role will be paid monthly at his current monthly base salary, creating a disclosed post-employment compensation obligation.
8-K Event Classification
Key Figures
Key Terms
Executive Severance and Release Agreement financial
restricted stock awards financial
performance-based restricted stock unit awards financial
COBRA regulatory
noncompetition regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What leadership change did 3D Systems (DDD) announce regarding its CEO?
What severance payments will Dr. Graves receive from 3D Systems (DDD)?
How long will 3D Systems (DDD) provide medical benefits to Dr. Graves after departure?
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When does 3D Systems (DDD) expect to appoint a new CEO?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 4, 2026, 3D Systems Corporation (the “Company”) announced that Dr. Jeffrey A. Graves, the Company’s President and Chief Executive Officer and a member of the Company’s Board of Directors (the “Board”), will leave the Company and retire from the Board, effective upon the Company hiring a successor President and Chief Executive Officer. To facilitate a smooth transition of his leadership and responsibilities, Dr. Graves will continue to serve as the Company’s President and Chief Executive Officer and will remain a member of the Board until the Company identifies and retains a successor President and Chief Executive Officer, which is expected to occur later this year. Additionally, for 6 months following the end of his employment with the Company, Dr. Graves has agreed to serve in a consulting role with the Company.
In connection with Dr. Graves’s upcoming departure, on August 4, 2026, the Company and Dr. Graves entered into an Executive Severance and Release Agreement (the “Severance Agreement”) that memorializes the terms of Dr. Graves’s departure from the Company. Specifically, the Severance Agreement provides that upon Dr. Graves’s termination of employment with the Company, he will receive the following payments and benefits: (i) an amount equal to 150% of his current annual base salary, paid in eighteen equal installments (with the first two installments to be paid on the 60th day following the termination of his employment with the Company), (ii) continued receipt of the Company portion of medical premiums for up to eighteen months under COBRA, (iii) a lump sum payment equal to 50% of his current annual base salary, paid on the 60th day following the termination of his employment with the Company, (iv) continued vesting of any restricted stock awards scheduled to vest through April 2027 pursuant to the terms of the applicable award agreements and the terms of the Company’s 2015 Incentive Plan, and, contingent on Dr. Graves’s continued employment or service as a consultant (as described below) through the applicable vesting date, and (v) continued eligibility to vest in the performance-based restricted stock unit awards granted to him in 2024 and that may vest in April 2027, subject to the satisfaction of the applicable performance goals, Dr. Graves’s continued employment or service as a consultant through the applicable vesting date and the terms and conditions set forth in the applicable award agreement.
Once a successor President and Chief Executive Officer commences employment with the Company, Dr. Graves will transition to a consultant role with the Company, pursuant to a Consultant Agreement (the “Consultant Agreement”), a copy of which is attached as an appendix to the Severance Agreement. The Consultant Agreement provides that Dr. Graves will provide consultant services to the Company for 6 months following the termination of his employment with the Company and will be compensated on a monthly basis according to his current monthly amount of base salary.
Dr. Graves’s entitlement to the payments and benefits described above is contingent on his execution of a full release of claims in favor of the Company, both at the time of his entrance into the Severance Agreement and his reaffirmation of such release of claims upon the cessation of his employment with the Company. In addition, Dr. Graves remains subject to all restrictive covenant obligations, such as confidentiality, noncompetition, non-interference and nonsolicitation, set forth in the Employment Agreement between Dr. Graves and the Company, dated May 11, 2020.
The preceding description of the Severance Agreement and the Consultant Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Severance Agreement and Consultant Agreement, which are attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.
The Company has commenced a search and evaluation process to select its next President and Chief Executive Officer. The Company expects that a successor President and Chief Executive Officer will be identified and retained later this year.
| Item 7.01. | Regulation FD Disclosure. |
On August 4, 2026, the Company issued a press release announcing that Dr. Graves will leave the Company and retire from the Board, effective upon the Company hiring a successor President and Chief Executive Officer. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 2.02 by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 10.1 | Executive Severance and Release Agreement, dated August 4, 2026, by and between 3D Systems Corporation and Dr. Jeffrey A. Graves. | |
| 99.1 | Press release issued on August 4, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| 3D SYSTEMS CORPORATION | ||||||
| Date: August 4, 2026 | By: | /s/ Phyllis Nordstrom | ||||
| Phyllis Nordstrom | ||||||
| Chief Financial Officer and Chief Administrative Officer | ||||||
Exhibit 99.1
For Immediate Release
3D Systems Announces CEO Transition Plan
Dr. Graves will continue in his role until a successor is appointed
ROCK HILL, South Carolina, August 4, 2026 – 3D Systems (NYSE: DDD), a leading provider of additive manufacturing solutions, today announced a leadership transition plan in which Dr. Jeffrey Graves will step down as President and Chief Executive Officer and retire from the Board of Directors. To support a seamless transition, Dr. Graves will continue to serve as President and Chief Executive Officer until a successor is appointed, which is expected to occur later this year. Following his successor’s appointment, Dr. Graves will serve in a consulting capacity for six months to facilitate an effective transition.
The Board of Directors has initiated a comprehensive search process to identify the Company’s next President and Chief Executive Officer and has engaged an experienced executive search firm to lead this process. The Board remains focused on advancing the Company’s strategic priorities and delivering long-term value for its shareholders.
Since joining 3D Systems in May 2020, Dr. Graves has led the Company’s transformation around its Healthcare and Industrial businesses, implemented meaningful cost reduction initiatives to improve operational efficiency and financial performance, and refined the Company’s strategic focus on high value growth markets, including Aerospace & Defense, Data Center Infrastructure, Med Tech, and Dental. These efforts helped strengthen the Company’s market positioning to support its long-term growth objectives.
“On behalf of the Board, I would like to thank Jeff for his leadership and contributions to 3D Systems,” said Chip McClure, Chairman of the Board. “Over the past several years, the Company has made meaningful progress in strengthening its operating foundation, sharpening its strategic focus, and positioning the business for long-term profitability and growth. We are grateful for Jeff’s service to the Company and for his support during this transition to ensure a seamless handoff of leadership responsibilities.”
“I am proud of the progress the Company has made over the last six years and grateful to have had the opportunity to work alongside the talented employees of 3D Systems,” said Dr. Graves. “It has been a privilege to serve our customers and shareholders, and I am confident that the Company is well positioned to build on this foundation and capitalize on the exciting opportunities in the industry ahead. I remain fully committed to leading the Company during this time and supporting a seamless transition.”
The CEO transition announcement is being made in conjunction with the Company’s release of its second quarter 2026 financial results. As previously announced, the Company will host its second quarter earnings conference call today at 8:30 a.m. Eastern Time.
About 3D Systems
For nearly 40 years, Chuck Hull’s curiosity and desire to improve the way products were designed and manufactured gave birth to 3D printing, 3D Systems, and the additive manufacturing industry. Since then, that same spark continues to ignite the 3D Systems team as we work side-by-side with our customers to change the way industries innovate. As a full-service solutions partner, we deliver industry-leading 3D printing technologies, materials and software to high-value markets such as medical and dental; aerospace, space and defense; transportation and motorsports; AI infrastructure; and durable goods. Each application-specific solution is powered by the expertise and passion of our employees who endeavor to achieve our shared goal of Transforming Manufacturing for a Better Future.
Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding the timing of product launches, regulatory approvals, market opportunities, expected revenue impact, and shareholder value. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon
management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.