Form 4: Universal Corp CEO Reports Tax-Related Share Disposition Following RSU Vesting

Universal Corp's Chairman, President & CEO, Preston Douglas Wigner, reported the disposition of 2,922 shares of common stock to cover tax obligations related to the vesting of restricted stock units on May 28, 2025.

Summary

• Preston Douglas Wigner, Chairman, President & CEO of Universal Corp /VA/ (UVV), filed a Form 4 detailing changes in his beneficial ownership.
• The filing reports a transaction on May 28, 2025, where 2,922 shares of common stock were disposed of.
• These shares were surrendered to the company at a price of $59.35 per share to satisfy withholding taxes.
• The transaction is directly related to the vesting of previously granted restricted stock units (RSUs) on the same date.
• Following this transaction, Mr. Wigner directly beneficially owns 94,363 shares of common stock.
• This total beneficial ownership includes 51,555 restricted stock units and 5,111 dividend equivalent units earned on the restricted stock units.

Sentiment

Score: 5

Explanation: The document reports a routine tax-related disposition of shares by an insider following RSU vesting, which is a neutral event in terms of company performance or outlook.

Positives

• The vesting of restricted stock units indicates a compensation event for the CEO, reflecting the fulfillment of equity-based incentives.
• The disposition of shares was specifically for tax withholding purposes, not a discretionary sale by the insider, which is a routine and expected event for equity compensation.

Negatives

• The disposition of 2,922 shares, while for tax purposes, results in a reduction of the direct common stock holdings of the CEO.

Future Outlook

NA

Industry Context

This Form 4 filing details a routine insider transaction for Universal Corp's CEO, which is common across all publicly traded companies when executive compensation in the form of equity vests and tax obligations are met. It does not provide insights into broader industry trends or competitive landscape.

Stakeholder Impact

• Minimal direct impact on shareholders as the share disposition is for tax purposes related to executive compensation, a routine event.

Key Dates

Keywords

Universal Corp, UVV, Form 4, insider transaction, stock ownership, CEO, restricted stock units, RSU vesting, tax withholding