Form 4: Universal Corp. CEO Preston Wigner Reports Significant Equity Awards and Tax-Related Share Dispositions

Universal Corp.'s Chairman, President & CEO, Preston Douglas Wigner, reported the acquisition of 21,192 shares through restricted stock awards and vested performance shares, alongside the disposition of 4,832 shares for tax withholding purposes, increasing his direct beneficial ownership to 109,021 shares.

Summary

• Preston Douglas Wigner, Chairman, President & CEO of Universal Corp. (UVV), reported multiple transactions involving the company's common stock.
• On May 30, 2025, Mr. Wigner acquired 15,230 shares of common stock as an award of restricted stock units, which are set to vest on the third anniversary of the award date.
• Also on May 30, 2025, he acquired 5,962 shares of common stock from previously granted performance shares that vested on that date.
• To satisfy withholding taxes related to the vested performance shares, 2,689 shares of common stock were surrendered to the company on May 30, 2025, at a price of $65.39 per share.
• On June 2, 2025, an additional 2,143 shares of common stock were surrendered to the company to satisfy withholding taxes for previously granted restricted stock units that vested on that date, at a price of $65.30 per share.
• Following these transactions, Mr. Wigner's direct beneficial ownership stands at 109,021 shares of common stock.
• This total includes 62,810 restricted stock units and 2,634 dividend equivalent units, with an adjustment made for an inadvertent overstatement in a prior Form 4 filing.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the CEO received significant equity awards, indicating continued alignment with company performance and long-term incentives. The dispositions were solely for tax purposes, which is a neutral event.

Positives

• Chairman, President & CEO Preston Douglas Wigner received a significant award of 15,230 restricted stock units, indicating continued long-term incentive alignment with shareholder interests.
• An additional 5,962 shares were acquired from the vesting of previously granted performance shares, reflecting the achievement of performance targets.
• The overall beneficial ownership of the CEO increased, demonstrating continued confidence and alignment with the company's future.

Negatives

• A total of 4,832 shares were disposed of to cover tax withholding obligations, which is a common practice but reduces the direct shareholding.

Future Outlook

NA

Industry Context

This Form 4 filing details routine executive compensation transactions, specifically the vesting of equity awards and subsequent tax-related share dispositions. Such transactions are common across industries as part of executive incentive plans and do not inherently reflect broader industry trends, but rather the company's specific compensation structure and performance against internal targets.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The increase in the CEO's beneficial ownership, even with tax-related dispositions, generally signals continued alignment of management interests with shareholder value. The vesting of performance shares suggests the company met certain performance criteria.

Next Steps

• The restricted stock units awarded on May 30, 2025, are scheduled to vest on their third anniversary.

Key Dates

Recommendation

Keywords

Universal Corp, UVV, SEC Form 4, Insider Trading, Stock Award, Restricted Stock Units, Performance Shares, Executive Compensation, Preston Douglas Wigner, Beneficial Ownership