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MMM > SEC Filings for MMM > Form 8-K on 4-May-2012All Recent SEC Filings

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Form 8-K for 3M CO


4-May-2012

Other Events


Item 8.01. Other Events.

Frederick J. Palensky, Executive Vice President, has adopted a prearranged trading plan, effective May 3, 2012, in accordance with guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934, and 3M Company's policies with respect to insider sales.

Rule 10b5-1 plans permit insiders to sell fixed portions of their holdings over a designated period of time by establishing the prearranged written plans at a time when they are not in possession of material non-public information. Such programs provide for regular selling of a predetermined, fixed number of company shares in order to gradually diversify the individual's investment portfolio, minimize the market effect of share sales by spreading them out over an extended period of time and avoid concerns about initiating transactions while in possession of material non-public information.

Mr. Palensky's plan contemplates (A) the sale of up to a maximum of 59,452 shares of 3M common stock (acquired through stock option exercises) through October 28, 2012, and (B) the exercise of up to a maximum of 32,952 shares in a cashless-sell-to-cover method (selling enough shares to cover option share purchase price, fee and taxes, then retaining the remaining shares) through October 25, 2012, while in both cases, only if the stock meets the minimum price thresholds as specified in the plan. Assuming all transactions execute, Mr. Palensky would remain above the minimum stock ownership thresholds established by the Company. Any transactions under the plan will be disclosed publicly through Form 4 and, if applicable, Form 144 filings with the Securities and Exchange Commission.

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