3D Systems Corp 8-K, filed Nov 12, 2020
3D Systems Corp (DDD)
About this 8-K
3D Systems Corp filed this 8-K on November 12, 2020, reporting on events of November 7, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 12, 2020
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 7, 2020, the Board of Directors of 3D Systems Corporation (the “Company”) appointed Anthony Grabenau, Vice President and Global Corporate Controller, to serve as the Company’s principal accounting officer until the earlier of his cessation of employment or the Board’s appointment of his successor.
Mr. Grabenau, age 43, joined the Company in September 2020. Prior to joining the Company, Mr. Grabenau served as the Director, Controlling & Reporting at Verizon Communications Inc. from November 2018 to September 2020 and as Assistant Corporate Controller at TopBuild Corp. from May 2015 to October 2018. Over his 18-plus year career Mr. Grabenau also worked in various accounting and finance roles of increasing responsibility including Senior Director of Financial Reporting & Internal Audit at Hard Rock International and Senior Manager at Ernst & Young, LLP. Mr. Grabenau is a certified public accountant and holds a Bachelor degree in Finance from the University of Central Florida and a Masters in Accounting degree from the University of Virginia.
The Company and Mr. Grabenau entered into an offer letter (the “Offer Letter”) pursuant to which Mr. Grabenau will receive (i) an annual base salary of $270,000, (ii) a sign-on bonus of $40,000, (iii) eligibility to participate in the Company’s 2020 Performance Bonus Plan with a target payout of 30% of Mr. Grabenau s’s annual base salary, (iv) participation in the Company annual equity compensation program, and (v) an initial equity award grant of 9,500 shares of restricted stock pursuant to the Company’s Amended and Restated 2015 Incentive Plan. Mr. Grabenau is also eligible to participate in the Company’s applicable relocation, benefit and leave plans in accordance with the terms of those plans.
The foregoing summary of Mr. Grabenau’s compensation and terms of employment generally is not complete and is qualified in its entirety by the Offer Letter, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
SIGNATURES
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: November 12, 2020 | |||
| By: | /s/ Andrew M. Johnson | ||
| (Signature) | |||
| Name: | Andrew M. Johnson | ||
| Title: | Executive Vice President, Chief Legal Officer and Secretary | ||