Philip Morris International Inc. (NYSE:PM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Philip Morris International Inc. (NYSE:PM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Item 5.02.

Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(e)>>Equity Awards. Named executive officers of Philip Morris
International Inc. (the “Company”) receive 40% of their targeted
equity award in the form of restricted stock units, or RSUs, and
60% in the form of performance share units, or PSUs. Accordingly,
on February 2, 2017, the Compensation and Leadership Development
Committee of the Board of Directors of the Company (the Committee)
approved the grants of RSUs and PSUs under the Philip Morris
International Inc. 2012 Performance Incentive Plan (the Plan) to
the Company’s named executive officers in the amounts indicated
below:
Name
RSUs
PSUs
Andr Calantzopoulos
41,870
62,800
Marc Firestone
13,000
19,500
Martin King
6,830
10,240
Jacek Olczak
12,940
19,410
Miroslaw Zielinski
8,650
12,980
The foregoing awards of RSUs are due to vest on February 19, 2020.
The form of the RSU agreement is attached as Exhibit 10.1 to this
Current Report on Form 8-K and is incorporated by reference herein.
The foregoing awards of PSUs are due to vest on February 19, 2020
at the end of a three-year (2017-2019) performance cycle only to
the extent performance goals pre-established and pre-weighted by
the Committee are achieved. The form of the PSU agreement is
attached as Exhibit 10.2 to this Current Report on Form 8-K and is
incorporated by reference herein.
Annual Incentive Compensation Awards. On February 2, 2017, the
Committee approved annual incentive compensation awards for 2016,
payable in cash, to the Company’s named executive officers, in the
amounts indicated below:
Name
Annual Incentive Award
CHF
US$
(a)
Andr Calantzopoulos
3,572,280
3,607,646
Marc Firestone
1,581,270
1,596,925
Martin King
1,043,630
1,053,962
Jacek Olczak
1,574,110
1,589,694
Miroslaw Zielinski
1,322,750
1,335,845
(a)
Annual incentive compensation awards are converted to
U.S. dollars using the average conversion rate on
February 2, 2017 of CHF1.00 = $1.0099.
The annual incentive compensation awards were set based on a
pre-established matrix formula employing six performance measures.
Base Salaries.>On February 2, 2017, the Committee approved the
following base salaries for the following executive officers in the
amounts indicated below, effective April 1, 2017:
Name
Base Salary Amount
CHF
US$
(a)
Andr Calantzopoulos
1,513,057
1,528,036
Marc Firestone
1,020,006
1,030,104
Martin King
845,004
853,370
Jacek Olczak
974,012
983,655
Miroslaw Zielinski
945,009
954,365
(a)
Base salaries are converted to U.S. dollars using the
average conversion rate on February 2, 2017 of CHF1.00 =
$1.0099.
The Company will provide additional information regarding the
compensation of its named executive officers in the Companys
proxy statement for the Companys Annual Meeting of Shareholders,
which will be issued in March 2017.
Item 9.01. Financial Statements and Exhibits.
(d)> Exhibits
10.1
Form of Restricted Stock Unit Agreement
10.2
Form of Performance Share Unit Agreement


About Philip Morris International Inc. (NYSE:PM)

Philip Morris International Inc. is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada. The Company’s premium price brands include Marlboro, Merit, Parliament and Virginia Slims; mid-price brands include L&M and Philip Morris, and other international brands include Bond Street, Chesterfield, Lark, Muratti, Next and Red & White. Its local cigarette brands consist of Dji Sam Soe, Sampoerna and U Mild in Indonesia; Champion, Fortune and Hope in the Philippines; Apollo-Soyuzand Optima in Russia; Morven Gold in Pakistan; Boston in Colombia, Belmont, Canadian Classics and Number 7 in Canada; Best in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece, and Petra in the Czech Republic and Slovakia.

Philip Morris International Inc. (NYSE:PM) Recent Trading Information

Philip Morris International Inc. (NYSE:PM) closed its last trading session up +1.28 at 101.28 with 5,905,702 shares trading hands.

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