Form 4: Universal Corp Director Michael T. Lawton Acquires Restricted Stock Units

Director Michael T. Lawton received 2,660 restricted stock units of Universal Corp for service as a director, vesting on the first anniversary of the award date.

Summary

• Michael T. Lawton, a director of Universal Corp, acquired 2,660 restricted stock units on August 6, 2024, as compensation for his service as a director.
• These restricted stock units will vest on the first anniversary of the award date.
• Following the transaction, Lawton directly owns 19,106 shares of common stock and indirectly owns 864 shares through The Michael T. Lawton Trust.
• The reported transaction also includes shares resulting from dividend equivalent units earned on restricted stock units that vested on August 4, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices, indicating confidence in the company's future.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.

Industry Context

Director compensation through stock awards is a common practice in publicly traded companies to align management's interests with shareholders.

Comparison to Industry Standards

• Stock awards for directors are a typical component of compensation packages in publicly traded companies like Universal Corp.
• Companies such as Altria Group (MO) and Philip Morris International (PM) also utilize stock awards as part of their director compensation plans.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates