3D Systems 8-K: Executive Changes & Compensation Reported

TL;DR

**3D Systems filed an 8-K on Jan 11, signaling potential executive or compensation changes from Jan 5.**

AI Summary

3D Systems Corporation filed an 8-K on January 11, 2024, reporting an event that occurred on January 5, 2024. This filing primarily concerns changes in the company's executive or director compensation arrangements, or the departure/election of officers, as indicated by Item 5.02. While specific names or dollar amounts are not detailed in this excerpt, such changes can signal shifts in leadership strategy or financial incentives, which could impact the company's future performance and thus the stock's value for investors.

Why It Matters

Changes in executive leadership or compensation can signal strategic shifts or financial health, directly influencing investor confidence and the company's operational direction.

Risk Assessment

Risk Level: low — This filing is a standard disclosure of an event, not indicating immediate financial distress or a major negative event.

Analyst Insight

Investors should monitor subsequent filings or company announcements for specific details regarding the executive changes or compensation arrangements mentioned in Item 5.02, as these details will provide a clearer picture of the strategic implications.

Key Players & Entities

• 3D SYSTEMS CORP (company) — the registrant filing the 8-K
• January 5, 2024 (date) — date of the earliest event reported
• January 11, 2024 (date) — date the 8-K was filed
• 001-34220 (number) — Commission File Number for 3D Systems Corporation
• DDD (company) — trading symbol for 3D Systems Corporation
• New York Stock Exchange (company) — exchange where 3D Systems common stock is registered

FAQ

Key Financial Figures

• $0.001 — ich registered Common stock, par value $0.001 per share DDD New York Stock Exchan
• $300,000 — for COBRA coverage and (iii) a one-time $300,000 cash retention bonus paid following the

Filing Documents

• d691455d8k.htm (8-K) — 28KB
• d691455dex101.htm (EX-10.1) — 53KB
• d691455dex991.htm (EX-99.1) — 10KB
• g691455g30d98.jpg (GRAPHIC) — 3KB
• 0001193125-24-006611.txt ( ) — 232KB
• ddd-20240105.xsd (EX-101.SCH) — 3KB
• ddd-20240105_lab.xml (EX-101.LAB) — 17KB
• ddd-20240105_pre.xml (EX-101.PRE) — 11KB
• d691455d8k_htm.xml (XML) — 3KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 5, 2024, 3D Systems Corporation (the "Company") notified Menno Ellis, Executive Vice President, Healthcare Solutions, that his role and position with the Company will be eliminated, effective March 15, 2024, as part of certain organizational changes in connection with the Company's ongoing multi-faceted restructuring initiative. In connection with Mr. Ellis's separation from the Company, Mr. Ellis will receive severance payments consistent with his employment agreement with the Company. On January 5, 2024, Andrew M. Johnson notified the Company of his decision to resign as Executive Vice President, Chief Corporate Development Officer, Chief Legal Officer and Secretary, effective April 30, 2024 (the "Separation Date"), to pursue other career opportunities. In connection with his departure, the Company entered into a Separation Agreement with Mr. Johnson on January 11, 2024 (the "Separation Agreement"). Pursuant to the Separation Agreement, Mr. Johnson will receive (i) a severance amount equal to his current annual base salary, paid in 12 monthly installments following the Separation Date, (ii) Company-paid monthly premium payments for COBRA health and dental insurance coverage such that Mr. Johnson's contributions to such plans remain the same as if he were employed by the Company until the earlier of (1) 12 months following the Separation Date and (2) the date Mr. Johnson is no longer eligible for COBRA coverage and (iii) a one-time $300,000 cash retention bonus paid following the Separation Date. The preceding description of the Separation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Separation Agreement attached hereto as Exhibit 10.1, which is incorporated herein by reference. The Company will immediately commence a se

01

Item 7.01. Regulation FD Disclosure. On January 10, 2024, the Company issued a press release announcing the departures of Messrs. Ellis and Johnson. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein 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.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. 10.1 Separation Agreement, dated January 11, 2024, by and between 3D Systems Corporation and Andrew M. Johnson. 99.1 Press release issued on January 10, 2024. 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: January 11, 2024 By: /s/ Dr. Jeffrey A. Graves Dr. Jeffrey A. Graves President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR