3M Co. Files DEF 14A: Executive Pay & Governance Details

Ticker: MMM · Form: DEF 14A · Filed: 2024-03-27T00:00:00.000Z

Sentiment: neutral

Topics: proxy-statement, executive-compensation, corporate-governance

Related Tickers: MMM

TL;DR

3M's DEF 14A is out, showing exec pay details and governance. Shareholders, take note.

AI Summary

3M Co. filed its DEF 14A on March 27, 2024, detailing executive compensation and corporate governance matters for the fiscal year ending December 31, 2023. The filing includes information on stock awards granted and vested, as well as changes in pension values for its executive officers. Key financial data and operational details are also presented within the report.

Why It Matters

This filing provides shareholders with crucial information regarding how executive compensation is structured and how company decisions are made, impacting long-term shareholder value and corporate accountability.

Risk Assessment

Risk Level: medium — DEF 14A filings can reveal information about executive compensation, potential conflicts of interest, and governance practices that could impact a company's stock performance and investor confidence.

Key Numbers

2023-12-31 — Fiscal Year End (Reporting period for compensation and financial data.)
20240327 — Filing Date (Date the DEF 14A was submitted to the SEC.)

Key Players & Entities

3M CO (company) — Filer
MINNESOTA MINING & MANUFACTURING CO (company) — Former Company Name
0000066740 (company) — Central Index Key

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Definitive Proxy Statement, is used to solicit proxies from shareholders for an upcoming annual or special meeting of security holders. It provides detailed information about matters to be voted on, including executive compensation, director elections, and other corporate governance issues.

When is 3M Co.'s fiscal year end?

3M Co.'s fiscal year ends on December 31st, as indicated by the filing's reporting period of 2023-01-01 to 2023-12-31.

What specific types of executive compensation data are typically found in a DEF 14A?

DEF 14A filings typically include details on base salary, bonuses, stock awards, option awards, non-equity incentive plan compensation, changes in pension value, and other compensation for the company's named executive officers.

Who is the filer of this DEF 14A?

The filer of this DEF 14A is 3M CO, with Central Index Key 0000066740.

What is the filing date of this DEF 14A for 3M Co.?

This DEF 14A filing for 3M Co. was made on March 27, 2024.

From the Filing

0000066740-24-000037.txt : 20240327 0000066740-24-000037.hdr.sgml : 20240327 20240327110345 ACCESSION NUMBER: 0000066740-24-000037 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 237 CONFORMED PERIOD OF REPORT: 20240514 FILED AS OF DATE: 20240327 DATE AS OF CHANGE: 20240327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: 3M CO CENTRAL INDEX KEY: 0000066740 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 410417775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-03285 FILM NUMBER: 24786817 BUSINESS ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST PAUL STATE: MN ZIP: 55144-1000 BUSINESS PHONE: 6517331474 MAIL ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST. PAUL STATE: MN ZIP: 55144-1000 FORMER COMPANY: FORMER CONFORMED NAME: MINNESOTA MINING & MANUFACTURING CO DATE OF NAME CHANGE: 19920703 DEF 14A 1 mmm-20240326.htm DEF 14A mmm-20240326 0000066740 DEF 14A false 0000066740 2023-01-01 2023-12-31 0000066740 4 2023-01-01 2023-12-31 0000066740 1 2023-01-01 2023-12-31 0000066740 5 2023-01-01 2023-12-31 0000066740 2 2023-01-01 2023-12-31 0000066740 6 2023-01-01 2023-12-31 0000066740 3 2023-01-01 2023-12-31 0000066740 7 2023-01-01 2023-12-31 iso4217:USD xbrli:pure 0000066740 2022-01-01 2022-12-31 0000066740 2021-01-01 2021-12-31 0000066740 2020-01-01 2020-12-31 0000066740 ecd:PeoMember mmm:ChangeInPensionValueMember 2023-01-01 2023-12-31 0000066740 ecd:PeoMember mmm:PensionAdjustmentsServiceCostMember 2023-01-01 2023-12-31 0000066740 mmm:StockAwardsAdjustmentsMember ecd:PeoMember 2023-01-01 2023-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsGrantedDuringTheYearUnvestedMember 2023-01-01 2023-12-31 0000066740 mmm:EquityAwardsGrantedInPriorYearsUnvestedMember ecd:PeoMember 2023-01-01 2023-12-31 0000066740 mmm:EquityAwardsGrantedDuringTheYearVestedMember ecd:PeoMember 2023-01-01 2023-12-31 0000066740 mmm:EquityAwardsGrantedInPriorYearsVestedMember ecd:PeoMember 2023-01-01 2023-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsThatFailedToMeetVestingConditionsMember 2023-01-01 2023-12-31 0000066740 ecd:PeoMember mmm:ChangeInPensionValueMember 2022-01-01 2022-12-31 0000066740 ecd:PeoMember mmm:PensionAdjustmentsServiceCostMember 2022-01-01 2022-12-31 0000066740 mmm:StockAwardsAdjustmentsMember ecd:PeoMember 2022-01-01 2022-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsGrantedDuringTheYearUnvestedMember 2022-01-01 2022-12-31 0000066740 mmm:EquityAwardsGrantedInPriorYearsUnvestedMember ecd:PeoMember 2022-01-01 2022-12-31 0000066740 mmm:EquityAwardsGrantedDuringTheYearVestedMember ecd:PeoMember 2022-01-01 2022-12-31 0000066740 mmm:EquityAwardsGrantedInPriorYearsVestedMember ecd:PeoMember 2022-01-01 2022-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsThatFailedToMeetVestingConditionsMember 2022-01-01 2022-12-31 0000066740 ecd:PeoMember mmm:ChangeInPensionValueMember 2021-01-01 2021-12-31 0000066740 ecd:PeoMember mmm:PensionAdjustmentsServiceCostMember 2021-01-01 2021-12-31 0000066740 mmm:StockAwardsAdjustmentsMember ecd:PeoMember 2021-01-01 2021-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsGrantedDuringTheYearUnvestedMember 2021-01-01 2021-12-31 0000066740 mmm:EquityAwardsGrantedInPriorYearsUnvestedMember ecd:PeoMember 2021-01-01 2021-12-31 0000066740 mmm:EquityAwardsGrantedDuringTheYearVestedMember ecd:PeoMember 2021-01-01 2021-12-31 0000066740 mmm:EquityAwardsGrantedInPriorYearsVestedMember ecd:PeoMember 2021-01-01 2021-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsThatFailedToMeetVestingConditionsMember 2021-01-01 2021-12-31 0000066740 ecd:PeoMember mmm:ChangeInPensionValueMember 2020-01-01 2020-12-31 0000066740 ecd:PeoMember mmm:PensionAdjustmentsServiceCostMember 2020-01-01 2020-12-31 0000066740 mmm:StockAwardsAdjustmentsMember ecd:PeoMember 2020-01-01 2020-12-31 0000066740 ecd:PeoMember mmm:EquityAwardsGrantedDuringTh