William F. Gifford, Jr. is the CEO of Altria Group, Inc., a position he took on in April 2020 after serving as Vice Chairman and Chief Financial Officer. He has been with Altria since 1994, which gives him over two...

Number of Employees

6.4K

Year

2023

Total Compensation

$6.34M

Salary

$1.35M

Board Justification

Altria's compensation philosophy aims to align executive pay with company performance, focusing on long-term value creation for shareholders. The compensation program is designed to attract, retain, and motivate top talent while ensuring that executives' interests align with those of shareholders.

Bonus

$2.73M

Board Justification

The bonus is based on a combination of company performance metrics and individual performance. For 2023, the business performance rating was 98%, and the individual performance multiplier was 125%, resulting in a bonus payout of 123% of the target.

Other

$228.07K

Board Justification

Other compensation includes defined contribution plan allocations, personal use of company aircraft, and car expenses.

Restricted Stock

$2.04M(46.94K PSU)

Board Justification

The vested stock includes Performance Stock Units (PSUs) granted in 2021, which vested based on the company's performance against adjusted diluted EPS growth and cash conversion metrics, with a relative TSR modifier applied.

Performance Metrics

The performance metrics include adjusted diluted EPS growth, adjusted discretionary cash flow, total adjusted OCI, and strategic initiatives, which are used to determine the annual incentive awards.

SEC Filing

From April 4, 2024

William F. Gifford, Jr.

CEO of Altria Group

A

Education

Bachelor's degree in Accounting from the University of Florida; MBA from the University of Florida

Field of Expertise

Finance & Banking - Finance

Born

May 29, 1970 - 54 years ago

Is Founder?

No

Current Tenure

4 years 8 months (Apr 2020 - Present)

Previous Experience

Vice Chairman and Chief Financial Officer of Altria Group, Inc.