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
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. |
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:
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Name
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RSUs
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PSUs
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Andr Calantzopoulos
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41,870
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62,800
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Marc Firestone
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13,000
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19,500
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Martin King
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6,830
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10,240
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Jacek Olczak
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12,940
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19,410
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Miroslaw Zielinski
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8,650
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12,980
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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.
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.
Committee approved annual incentive compensation awards for 2016,
payable in cash, to the Company’s named executive officers, in the
amounts indicated below:
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Name
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Annual Incentive Award
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CHF
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US$
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(a)
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Andr Calantzopoulos
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3,572,280
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3,607,646
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Marc Firestone
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1,581,270
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1,596,925
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Martin King
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1,043,630
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1,053,962
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Jacek Olczak
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1,574,110
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1,589,694
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Miroslaw Zielinski
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1,322,750
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1,335,845
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(a)
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Annual incentive compensation awards are converted to
U.S. dollars using the average conversion rate on February 2, 2017 of CHF1.00 = $1.0099. |
pre-established matrix formula employing six performance measures.
following base salaries for the following executive officers in the
amounts indicated below, effective April 1, 2017:
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Name
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Base Salary Amount
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CHF
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US$
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(a)
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Andr Calantzopoulos
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1,513,057
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1,528,036
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Marc Firestone
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1,020,006
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1,030,104
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Martin King
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845,004
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853,370
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Jacek Olczak
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974,012
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983,655
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Miroslaw Zielinski
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945,009
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954,365
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(a)
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Base salaries are converted to U.S. dollars using the
average conversion rate on February 2, 2017 of CHF1.00 = $1.0099. |
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.
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10.1
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Form of Restricted Stock Unit Agreement
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10.2
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Form of Performance Share Unit Agreement
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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.