Form 4: Altria Group Vice President & Treasurer, Daniel J. Bryant, Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Daniel J. Bryant, Vice President & Treasurer of Altria Group, Inc., reports changes in beneficial ownership of company stock due to vesting of performance stock units and tax withholding.
Summary
- On February 28, 2024, Daniel J. Bryant, Vice President & Treasurer of Altria Group, Inc., reported changes in his beneficial ownership of Altria common stock.
- He acquired 2,504 shares upon the vesting of Performance Stock Units granted on February 25, 2021, at a price of $0.
- 2,129 shares were withheld to satisfy taxes related to the vesting of Performance Stock Units and Restricted Stock Units at a price of $40.9.
- Following these transactions, Bryant directly owns 68,614 shares of Altria common stock, which includes 28,020 Restricted Stock Units.
- He also indirectly owns 3,152 shares through the Altria Deferred Profit-Sharing Plan and 2,426 shares held by his wife.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation. The vesting of performance stock units is a positive sign, but the tax withholding is a neutral event.
Positives
- The vesting of Performance Stock Units indicates that performance targets were likely met, which is a positive signal.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company officers and directors. This filing indicates standard compensation practices involving stock-based awards.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
- The vesting of performance stock units is contingent on achieving specific performance metrics, which is a standard approach to incentivize executives.
- Tax withholding on vesting shares is a standard procedure.
Stakeholder Impact
- The vesting of performance stock units aligns management's interests with shareholders, potentially driving long-term value creation.
Key Dates
| Date | Description |
|---|---|
| February 25, 2021 | Date of grant for Performance Stock Units that vested on February 28, 2024. |
| February 27, 2024 | The closing price of Altria Group, Inc. common stock was $40.9. |
| February 28, 2024 | Date of transaction (vesting of shares and tax withholding). |
| March 01, 2024 | Date of filing of the Form 4. |
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