Summary
This Form 8-K filing from 3M Company reports a key executive appointment within its finance department. Effective June 9, 2014, Eric D. Hammes was appointed as the Vice President, Corporate Controller, and Chief Accounting Officer. This appointment signifies a shift in financial leadership and oversight for the company. Mr. Hammes has a long tenure with 3M, having joined in 1997 and holding various financial leadership roles across different divisions and regions, including his most recent position as Vice President, Finance, International and Staff Operations since April 2013. Investors should note that as of the filing date, there were no new material compensatory plans, contracts, or arrangements entered into with Mr. Hammes, other than a restricted stock unit grant. This grant consists of approximately 2,800 units that will vest over a five-year period, contingent upon continued employment. The company has stated it will file an amendment if any further material agreements are made.
Key Highlights
- 1Eric D. Hammes appointed Vice President, Corporate Controller, and Chief Accounting Officer, effective June 9, 2014.
- 2Mr. Hammes brings extensive experience with 3M, having been with the company since 1997.
- 3His prior roles include Vice President, Finance, International and Staff Operations, Finance Director of Health Care Business, and Financial Planning and Analysis manager.
- 4The appointment addresses a critical executive role in financial reporting and compliance.
- 5No new material compensatory plans or contracts were disclosed at the time of filing, apart from a stock unit grant.
- 6The restricted stock unit grant of approximately 2,800 units vests over five years, with half vesting on the third and fifth anniversaries of July 1, 2014.
- 7Vesting of the stock units is contingent on continued employment.