Form 4: Altria Executive Charles N. Whitaker Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Charles N. Whitaker, SVP, Chief HR Off. & CCO of Altria Group, Inc., reports acquisition and disposal of Altria common stock related to vesting of stock units and tax obligations.
Summary
- On February 27, 2025, Charles N. Whitaker, a senior executive at Altria Group, Inc., reported changes in his beneficial ownership of the company's common stock.
- He acquired 8,568 shares of common stock upon the vesting of Performance Stock Units granted on February 24, 2022.
- 7,511 shares were withheld to satisfy tax obligations related to the vesting of Performance Stock Units and Restricted Stock Units at a price of $54.85 per share.
- Following these transactions, Whitaker directly owns 187,627 shares of Altria common stock, which includes 67,310 Restricted Stock Units, and indirectly owns 950 shares through the Altria Deferred Profit-Sharing Plan.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation. The vesting of performance stock units is a slightly positive indicator, but the tax-related disposal is neutral.
Positives
- The vesting of Performance Stock Units indicates that performance targets were likely met, which is a positive signal.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. They can provide insights into management's perspective on the company's performance and future prospects, but should be viewed in the context of overall compensation packages and company performance.
Comparison to Industry Standards
- Executive compensation practices, including the use of stock units, are common across publicly traded companies, including Altria's peers in the consumer staples sector such as Philip Morris International (PM) and British American Tobacco (BTI).
- The vesting of performance-based stock units is typically tied to the achievement of specific financial or operational targets, aligning executive incentives with shareholder value creation.
- Tax withholding on vesting is a standard procedure.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- Shareholders may view the vesting of performance stock units as a positive sign of management achieving performance goals.
Key Dates
| Date | Description |
|---|---|
| February 24, 2022 | Date of grant for Performance Stock Units that vested. |
| February 26, 2025 | The closing price of Altria Group, Inc. common stock on this day was $54.85. |
| February 27, 2025 | Date of the reported transaction (acquisition and disposal of shares). |
| March 03, 2025 | Date of signature for the Form 4 filing. |
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