Form 4: Altria Group EVP Garnick Reports Stock Transactions Following PSU Vesting

Murray R. Garnick, EVP & General Counsel of Altria Group, reports acquisition of 15,744 shares and disposal of 15,841 shares to cover taxes upon vesting of Performance Stock Units.

Summary

• On February 28, 2024, Murray R. Garnick, EVP & General Counsel of Altria Group, acquired 15,744 shares of common stock upon the vesting of Performance Stock Units (PSUs) granted on February 25, 2021.
• On the same day, Garnick disposed of 15,841 shares to satisfy tax obligations related to the vesting of Performance Stock Units and Restricted Stock Units.
• The disposal price was $40.9, which was the closing price of Altria Group, Inc. common stock on February 27, 2024.
• Following these transactions, Garnick beneficially owns 204,012 shares of Altria Group, Inc., including 50,001 Restricted Stock Units.

Sentiment

Score: 6

Explanation: Neutral sentiment as the transactions are routine and related to compensation and tax obligations. The vesting of PSUs is a slightly positive indicator of company performance.

Positives

• The vesting of Performance Stock Units indicates that performance goals were likely met, which is a positive signal.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's perspective on the company's performance and future prospects. Vesting of PSUs is tied to company performance, so this transaction suggests the company is meeting its goals.

Comparison to Industry Standards

• Executive compensation packages often include stock options, restricted stock units, and performance stock units to align management's interests with those of shareholders.
• The vesting of PSUs is a common practice among large corporations, including Altria's peers in the consumer staples industry, such as Philip Morris International and British American Tobacco.
• Tax withholding on vesting is a standard procedure, and the number of shares withheld is typically based on the executive's tax bracket and the fair market value of the shares on the vesting date.

Stakeholder Impact

• The stock transactions have a minimal direct impact on stakeholders.
• Shareholders may view the vesting of PSUs as a positive sign of company performance.

Key Dates