William F. Gifford, Jr.
Also at Altria Group Inc
About
William F. Gifford, Jr. serves as the Chief Executive Officer (CEO) of Altria Group, Inc. He is responsible for certifying the company's financial reports in compliance with the Sarbanes-Oxley Act of 2002, a role that underscores his commitment to strong corporate governance.
While details regarding his personal background, educational accomplishments, and earlier career are not provided, his current executive position reflects a significant level of trust and responsibility within the organization.
His professional contributions are primarily evidenced through his certification of various quarterly and annual financial filings, which are essential to maintaining transparency and accuracy in the company’s reporting practices. The available documents confirm his active involvement in ensuring that the financial condition and results of operations of the company are fairly presented, a central component of his leadership at Altria Group, Inc.
$MO Performance Under William F. Gifford, Jr.
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Anheuser-Busch InBev SA/NV | Director (Former Board Position) | 2016 – April 2023 | Previously served on the board. |
| Altria Group, Inc. | Vice Chairman and Chief Financial Officer | May 2018 – April 2020 | Held senior leadership role before becoming CEO. |
| Altria Group, Inc. | Executive Vice President and Chief Financial Officer | March 2015 – May 2018 | Held senior leadership role before becoming CEO. |
| Altria Group, Inc. | Various Senior Leadership Roles | Since 1994 | Held multiple roles since joining the company. |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,350,000 | Annual | Fixed annual salary |
| Allocation to Defined Contribution Plans | $135,000 | Annual | Contributions to tax-qualified and non-qualified supplemental plans |
| Personal Use of Company Aircraft | $83,063 | As Incurred | Incremental costs including trip-related crew hotels, meals, fuel costs, etc. (excludes fixed costs) |
| Car Expenses | $10,008 | Annual | Fixed car-related expenses |
Performance Compensation
Annual Incentive Plan
| Metric | Value | Details |
|---|---|---|
| Target Compensation | 165% of salary | Increased from 150% to 165% of salary |
| Grant Date | February 27, 2023 | Equity awards granted on this date |
| RSU Grant Date Fair Value | $3,300,002 | For Restricted Stock Units |
| PSU Grant Date Fair Value | $3,300,047 | For Performance Stock Units |
| Performance Metrics | Adjusted Diluted EPS Growth (75%), Cash Conversion (25%) | Includes a Relative TSR modifier of ±20% |
| Vesting Date | February 26, 2026 | Vesting occurs at the conclusion of the performance cycle |
Long-Term Incentive Plan (LTIP) / Performance Stock Units (PSUs)
| Component | Units | Target Performance (%) | Maximum Payout (%) | Vesting Date | Evaluation Period | Additional Details |
|---|---|---|---|---|---|---|
| RSUs | 70,311 | N/A | N/A | Feb 26, 2026 | N/A | Fixed grant with fair value of $3,300,002 |
| PSUs | 67,013 | 100% | Up to 156% | Feb 26, 2026 | January 1, 2023 to December 31, 2025 | Performance governed by Adjusted EPS Growth (75%), Cash Conversion (25%) and a Relative TSR modifier of ±20%. Dividend equivalents accrue during the performance period. |
Summary of Performance Metrics and Conditions
| Aspect | Detail |
|---|---|
| Required Performance Metrics | Adjusted Diluted EPS Growth (75%) and Cash Conversion (25%) with ±20% Relative TSR modifier |
| Performance Thresholds | Target performance level is 100%, with a potential range from 0% to 156% of target |
| Evaluation Period | 2023–2025 (three-year cycle) |
| Award Target (LTIP) | 260% of salary, equating to $3,510,000 before performance adjustments |
| Vesting Schedule | Both RSUs and PSUs vest on February 26, 2026 |
| Additional Conditions | Dividend equivalents are provided for both RSUs (paid quarterly) and PSUs (accrued over the performance period) |
This breakdown covers the core components of the performance compensation for 2023 based on available data.