ALTRIA GROUP, INC. (NYSE:MO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
release announcing that Denise F. Keane, after 40 years of
distinguished service with the Company and its subsidiaries,
informed the Company on May 2, 2017 of her intention to retire as
Executive Vice President and General Counsel of the Company, with
a final day of employment on June 30, 2017.
for a pro-rated cash payment for her service through June 30,
2017 under the Companys 2017 annual incentive award program. Any
pro-rated payment will be based on Company and individual
performance ratings at target and will be made in the first
quarter of 2018. Ms. Keanes award target for the annual incentive
award program is 95% of salary for the portion of 2017 during
which she is employed, which is consistent with the pre-existing
target for Salary Band B. In addition, in accordance with the
terms of the Companys shareholder-approved 2015 Performance
Incentive Plan and related award agreements, all of Ms. Keanes
unvested restricted stock units and performance stock units will
become fully vested upon the date of her retirement and paid in
accordance with their terms. Ms. Keane will also be entitled to
payments and benefits generally available to retirees under the
terms of the Companys benefit plans.
compensation programs are more fully described in the
Compensation Discussion and Analysis section of the Companys
proxy statement for its 2017 Annual Meeting of Shareholders
(filed with the Securities and Exchange Commission on April 6,
2017).
other terms of the Executive Confidentiality and Non-Competition
Agreement dated February 4, 2011, between the Company and Ms.
Keane for the period set forth in that agreement. A form of the
Executive Confidentiality and Non-Competition Agreement was filed
previously as Exhibit 10.3 to the Companys Current Report on Form
8-K filed on January 27, 2011.
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(d)
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Exhibits
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99.1
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Altria Group, Inc. Press Release, dated May 3, 2017
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About ALTRIA GROUP, INC. (NYSE:MO)
Altria Group, Inc. is a holding company. The Company’s subsidiaries include Philip Morris USA Inc. (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co. (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S. Smokeless Tobacco Company LLC (USSTC) and Ste. Michelle Wine Estates Ltd. (Ste. Michelle), is engaged in the manufacture and sale of smokeless tobacco products and wine. Its segments include smokeable products, smokeless products and wine. The smokeable products segment uses over four manufacturing and processing facilities. The smokeless products segment uses over four smokeless tobacco manufacturing and processing facilities located in Franklin Park, Illinois; Hopkinsville, Kentucky; Nashville, Tennessee, and Richmond, Virginia. Its wine segment uses approximately 11 wine-making facilities. ALTRIA GROUP, INC. (NYSE:MO) Recent Trading Information
ALTRIA GROUP, INC. (NYSE:MO) closed its last trading session down -0.61 at 70.22 with 5,869,836 shares trading hands.
