The latest announcement is out from Altria Group Inc (MO).
Murray R. Garnick, EVP and General Counsel at Altria Group, Inc., is set to retire on April 1, 2024, but will still receive prorated cash payments from the company’s annual incentive plan and long-term incentive plans. Although he will forfeit unvested stock awards, the Compensation Committee authorized cash payments for these, calculated based on Altria’s stock price. The precise value of these payments will be determined by actual business performance, with RSU payments scheduled for the fourth quarter of 2024 and PSU payments after the performance cycle ends. Garnick will also adhere to the terms of his non-competition agreement post-retirement.
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