Form 4: Altria Group EVP and COO Jody L. Begley Reports Changes in Beneficial Ownership
SEC Form 4
Jody L. Begley, EVP and COO of Altria Group, reports acquisition of shares through vesting of Performance Stock Units and disposition of shares to cover tax obligations.
Summary
- On February 27, 2025, Jody L. Begley, EVP and COO of Altria Group, acquired 17,119 shares of common stock through the vesting of Performance Stock Units.
- On the same day, 17,668 shares were disposed of to satisfy tax obligations related to the vesting of Performance Stock Units and Restricted Stock Units at a price of $54.85.
- Following these transactions, Begley directly owns 290,779 shares and indirectly owns 50,779 shares through the Altria Deferred Profit-Sharing Plan.
- The reported transactions are related to the vesting of Performance Stock Units granted on February 24, 2022.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation.
Positives
- The acquisition of shares through vesting of Performance Stock Units indicates that performance targets were met, which is a positive sign.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving stock-based compensation.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies, including Altria's peers in the consumer staples industry.
- Companies like Philip Morris International and British American Tobacco also utilize stock options and restricted stock units as part of their executive compensation packages.
- The vesting schedules and tax withholding practices are generally aligned with industry norms.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The vesting of performance stock units can be seen as a positive indicator of company performance, which benefits shareholders.
Key Dates
| Date | Description |
|---|---|
| February 24, 2022 | Date of grant for the Performance Stock Units that vested. |
| February 26, 2025 | The closing price of Altria Group, Inc. common stock on this date was $54.85. |
| February 27, 2025 | Date of transaction: acquisition of shares through vesting and disposition of shares for tax obligations. |
| March 03, 2025 | Date of signature for the Form 4 filing. |
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