UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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. |
As previously announced, effective April 30, 2024 (the “Separation Date”), Andrew M. Johnson resigned from his position as Executive Vice President, Chief Corporate Development Officer, Chief Legal Officer and Secretary of 3D Systems Corporation (the “Company”) to pursue other career opportunities. In connection with Mr. Johnson’s departure, on May 1, 2024, the Company entered into a consulting agreement with Mr. Johnson (the “Johnson Consulting Agreement”). The Johnson Consulting Agreement has an initial term beginning on May 1, 2024 and ending on December 31, 2024. Pursuant to the Johnson Consulting Agreement, Mr. Johnson will complete additional work for the Company on an as-needed basis, which will not exceed 20 hours per week, at a rate of $250 per hour. The Johnson Consulting Agreement is in addition to Mr. Johnson’s previously disclosed separation agreement, dated January 11, 2024, and the payments and benefits conferred thereby.
In addition, as previously announced, effective as of the Separation Date, Menno Ellis’s position as Executive Vice President, Healthcare Solutions was eliminated as part of certain organization changes related to the Company’s ongoing multi-faceted restructuring initiative. In connection with Mr. Ellis’s departure, on May 1, 2024, the Company entered into a consulting agreement with The Kaminda Group, an entity controlled by Mr. Ellis (the “Ellis Consulting Agreement”). The Ellis Consulting Agreement has an initial term beginning on May 1, 2024 and ending on December 31, 2024. Pursuant to the Ellis Consulting Agreement, The Kaminda Group will complete additional work for the Company on an as-needed basis, which will not exceed a total of 640 hours over the term of the agreement, at a rate of $375 per hour. The Ellis Consulting Agreement is in addition to any severance payments pursuant to Mr. Ellis’s employment agreement with the Company.
The preceding descriptions of the Johnson Consulting Agreement and the Ellis Consulting Agreement do not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Johnson Consulting Agreement and the Ellis Consulting Agreement, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 10.1 | Consulting Agreement, dated May 1, 2024, by and between 3D Systems Corporation and Andrew M. Johnson. | |
| 10.2 | Consulting Agreement, dated May 1, 2024, by and between 3D Systems Corporation and The Kaminda Group. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
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: May 1, 2024 | By: | /s/ Dr. Jeffrey A. Graves | ||||
| Dr. Jeffrey A. Graves | ||||||
| President and Chief Executive Officer | ||||||