Form 4: Altria Group Executive Charles N. Whitaker Reports Changes in Beneficial Ownership
SEC Form 4
Charles N. Whitaker, a Senior VP at Altria Group, reported the acquisition and disposal of company stock related to vesting of stock units and tax obligations.
Summary
- On February 28, 2024, Charles N. Whitaker, a Senior VP at Altria Group, reported changes in his beneficial ownership of Altria Group, Inc. stock.
- Whitaker acquired 5,868 shares of common stock upon the vesting of Performance Stock Units granted on February 25, 2021, at a price of $0.
- He also disposed of 4,779 shares to satisfy tax obligations related to the vesting of Performance Stock Units and Restricted Stock Units at a price of $40.9.
- Following these transactions, Whitaker directly owns 195,972 shares of common stock and indirectly owns 875 shares through the Altria Deferred Profit-Sharing Plan.
- The reported transactions were filed electronically on March 1, 2024.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions related to compensation. It doesn't indicate any significant positive or negative sentiment.
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 common occurrence in publicly traded companies and are routinely disclosed to the SEC. These transactions can provide insights into an executive's perspective on the company's performance and future prospects, but should be viewed in the context of their overall compensation and financial planning.
Comparison to Industry Standards
- Executive compensation packages often include stock options, restricted stock units, and performance-based stock units.
- The vesting of performance stock units is tied to the achievement of specific performance metrics, such as revenue growth, profitability, or return on invested capital.
- Companies like Philip Morris International (PM) and British American Tobacco (BTI) also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 25, 2021 | Date of grant for Performance Stock Units that vested on February 28, 2024. |
| February 27, 2024 | Closing price of Altria Group, Inc. common stock used to calculate the value of shares withheld for taxes. |
| February 28, 2024 | Date of the reported transactions: acquisition and disposal of shares. |
| March 1, 2024 | Date the Form 4 was signed. |
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