In 2016, $12.4 million of Thulin's compensation was from the realized value of long-term equity awards.
Chairman, president, CEO
Total compensation: $16,760,615 for the year ended Dec. 31, 2016
Salary: $1,483,929
Nonequity incentive pay: $2,303,678
Other compensation: $560,110
Exercised stock options: $3,901,684
Value realized on vesting shares: $8,511,214
New stock options: 245,116
Total 2016 shareholder return: 21.7 percent
Note: Thulin's compensation increased 7.3 percent over the year before. In 2016, $12.4 million of Thulin's compensation was from the realized value of long-term equity awards. Thulin has been CEO of 3M since February 2012, but he's a lifelong 3M employee who started with the company in 1979.
For 2016, Thulin received a 2 percent increase in his base salary, but 90 percent of his compensation, including short-term incentive compensation and long-term equity awards, is considered performance-based or at-risk pay.
3M had a strong financial year in 2016, hitting 97 to 101 percent of the targeted revenue and profit goals for the year. In addition to those financial measures, 3M opened a $150 million research-and-development center on its Maplewood campus, was awarded 688 patents and celebrated its 100th consecutive year of paying a dividend to shareholders.
Patrick Kennedy
Lawmakers questioned the Eden Prairie-based company’s business practices and whether its large size adds to affordability troubles.
