3M (MMM) EVP Banovetz exercises 13,420 RSUs, with 6,120 shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
3M Executive Vice President John Patrick Banovetz exercised restricted stock units and settled related taxes using shares. On May 1, 2026, he converted 13,420 restricted stock units into an equal number of 3M common shares at a reported value of $142.50 per share.
To cover tax obligations, 6,120 shares of common stock were disposed of as a tax-withholding transaction, not an open-market sale. After these transactions, Banovetz directly held 49,805.4219 shares of 3M common stock. No open-market buying or selling was reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
13,420 shares exercised/converted
Mixed
3 txns
Insider
Banovetz John Patrick
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 13,420 | $0.00 | -- |
| Exercise | Common Stock | 13,420 | $142.50 | $1.91M |
| Tax Withholding | Common Stock | 6,120 | $142.50 | $872K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct, null);
Common Stock — 55,925.422 shares (Direct, null)
Footnotes (1)
- Includes dividend share equivalents, accrued quarterly, pursuant to 3M's Deferred Compensation Plan. Includes shares acquired under 3M's General Employee Stock Purchase Plan. Includes shares acquired pursuant to 3M's Dividend Reinvestment Plan. Each restricted stock unit represents a contingent right to receive one share of 3M common stock. The restricted stock units vest 100% three years from the grant date.
Key Figures
RSUs exercised: 13,420 units
Tax-withholding shares: 6,120 shares
Reported value per share: $142.50 per share
+2 more
5 metrics
RSUs exercised
13,420 units
Restricted stock units converted to common stock on May 1, 2026
Tax-withholding shares
6,120 shares
Common stock delivered to satisfy tax liability
Reported value per share
$142.50 per share
Value used for both exercise and tax-withholding disposition
Shares held after transactions
49,805.4219 shares
Direct 3M common stock ownership following Form 4 events
Underlying common shares
13,420 shares
Common stock underlying the restricted stock units exercised
Key Terms
Restricted Stock Units, Deferred Compensation Plan, General Employee Stock Purchase Plan, Dividend Reinvestment Plan, +1 more
5 terms
Restricted Stock Units financial
"security_title": "Restricted Stock Units""
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Deferred Compensation Plan financial
"Includes dividend share equivalents, accrued quarterly, pursuant to 3M's Deferred Compensation Plan."
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
General Employee Stock Purchase Plan financial
"Includes shares acquired under 3M's General Employee Stock Purchase Plan."
Dividend Reinvestment Plan financial
"Includes shares acquired pursuant to 3M's Dividend Reinvestment Plan."
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What did 3M (MMM) Executive Vice President John Patrick Banovetz report in this Form 4?
John Patrick Banovetz reported exercising 13,420 restricted stock units into 3M common stock and using 6,120 shares for tax withholding. These transactions increased his direct holdings to 49,805.4219 shares without any open-market purchases or sales.
What are John Patrick Banovetz’s 3M (MMM) holdings after these Form 4 transactions?
Following the reported transactions, Banovetz directly held 49,805.4219 shares of 3M common stock. This figure reflects the net result of exercising 13,420 restricted stock units and using 6,120 shares to satisfy tax obligations related to that equity compensation event.
Were any open-market trades reported by 3M (MMM) Executive Vice President John Patrick Banovetz?
No open-market trades were reported. The Form 4 shows a derivative exercise of restricted stock units and a tax-withholding disposition. Both actions relate to equity compensation mechanics, not discretionary buying or selling of 3M shares in the open market.
How do the restricted stock units in this 3M (MMM) filing work for John Patrick Banovetz?
Each restricted stock unit represented a contingent right to receive one share of 3M common stock and vested 100% three years from the grant date. Upon vesting and exercise, 13,420 units converted into 13,420 shares, triggering associated tax-withholding in shares.