Summary
3M Company filed an 8-K on March 3, 2010, reporting on the compensatory arrangements for its executives. The key information for investors revolves around the "Form of 3M 2010 Performance Share Award" made effective March 1, 2010. These awards are part of the 3M 2008 Long-Term Incentive Plan and are designed to provide long-term incentive compensation to executives.
Key Highlights
- 13M granted Performance Share awards to executives effective March 1, 2010.
- 2These awards fall under the 3M 2008 Long-Term Incentive Plan.
- 3The purpose of these awards is to provide long-term incentive compensation.
- 4Executive compensation is tied to the Company's attainment of performance criteria.
- 5The performance period for these awards concludes on December 31, 2012.
- 6Actual issuance of 3M common stock may occur after the performance period ends.
- 7The filing includes the form of the award letter as an exhibit (Exhibit 10.1).