Form 4: Altria Group Executive Steve D'Ambrosia Reports Stock Transactions
SEC Form 4
Altria Group's Vice President and Controller, Steve D'Ambrosia, reports acquisition and disposal of company stock related to vesting of performance stock units and tax obligations.
Summary
- On February 28, 2024, Steve D'Ambrosia, Vice President & Controller of Altria Group, Inc., reported transactions involving Altria's common stock.
- D'Ambrosia acquired 1,330 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 1,210 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, D'Ambrosia directly owns 22,816 shares of common stock, and indirectly owns 8,361 shares through the Altria Deferred Profit-Sharing Plan and 7,450 shares held by his wife.
- The total direct holdings include 10,236 Restricted Stock Units and 5,765 shares held jointly with his wife.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing represents routine transactions related to executive compensation and tax obligations. There is no indication of 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
Insider transactions are routinely monitored to gauge executive sentiment and potential future performance of the company. This filing is a routine disclosure and doesn't necessarily indicate a significant shift in the company's outlook.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The transactions reported are typical for executives receiving stock-based compensation and managing their tax liabilities.
- Similar transactions are regularly seen at peer companies like Philip Morris International and British American Tobacco.
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. |
| February 27, 2024 | The closing price of Altria Group, Inc. common stock on this date was $40.9. |
| February 28, 2024 | Date of the reported stock transactions. |
| March 01, 2024 | Date of signature for the Form 4 filing. |
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