CEO William Gifford Jr. was paid $24,561,180 in fiscal year 2025, ↓ down 8.3% from fiscal year 2024 (SEC filing 0001104659-26-038900 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$24,561,180 ↓ William Gifford Jr. total, FY2025 | — CEO pay percentile vs peers | 147:1 CEO-to-median pay ratio | 96.21% Say-on-pay support, latest vote |
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MO's next annual pay disclosure, estimated April 2, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| William Gifford Jr. | $1,450,000 | — | $9,350,079 | — | $8,600,000 | $4,935,823 | $225,278 | $24,561,180 |
| Chief Executive Officer | ||||||||
| Jody Begley | 862,133 | — | 2,300,095 | — | 2,435,574 | 5,153,777 | 86,213 | 10,837,792 |
| Executive Vice President and Chief Operating Officer | ||||||||
| Salvatore Mancuso | 880,417 | — | 2,600,052 | — | 2,628,211 | 1,407,424 | 100,646 | 7,616,750 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Heather Newman | 701,550 | — | 2,707,552 | — | 1,572,337 | 1,105,480 | 70,155 | 6,157,074 |
| Senior Vice President, Chief Strategy and Growth Officer | ||||||||
| Charles Whitaker | 739,883 | — | 2,207,587 | — | 1,725,679 | 1,247,422 | 73,988 | 5,994,559 |
| Senior Vice President, Chief Human Resources Officer & Chief Compliance Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| William Gifford Jr. | $24,561,180 | $26,788,612 | $18,528,628 | ↓ −2,227,432 |
| Jody Begley | 10,837,792 | 7,425,812 | 6,317,711 | ↑ +3,411,980 |
| Salvatore Mancuso | 7,616,750 | 6,025,270 | 6,241,918 | ↑ +1,591,480 |
| Heather Newman | 6,157,074 | 3,950,632 | 4,392,431 | ↑ +2,206,442 |
| Charles Whitaker | 5,994,559 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses MO in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Charles Whitaker | Executive | $5,994,559 |
| Jody Begley | COO | $10,837,792 |
| Salvatore Mancuso | CFO | $7,616,750 |
| William Gifford Jr. | CEO | $24,561,180 |
| Heather Newman | Executive | $6,157,074 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Debra J. Kelly-Ennis | Independent Director | $342,352 |
| Ellen R. Strahlman | Independent Director | $328,052 |
| George Munoz | Director | $353,052 |
| Ian L.T. Clarke | Independent Director | $310,052 |
| Kathryn B. McQuade | Chair of the Board | $585,037 |
| M. Max Yzaguirre | Independent Director | $327,114 |
| Marjorie M. Connelly | Independent Director | $365,052 |
| R. Matt Davis | Independent Director | $340,052 |
| Richard S. Stoddart | Independent Director | $330,469 |
| Virginia E. Shanks | Independent Director | $348,052 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jody Begley | PSU | 2025-02-26 | — | 15,962 | — | 31,924 | $920,053 |
| Salvatore Mancuso | RSU | 2025-02-26 | — | — | 28,175 | — | 1,560,050 |
| Charles Whitaker | PSU | 2025-02-26 | — | 8,380 | — | 16,760 | 483,025 |
| Heather Newman | RSU | 2025-02-26 | — | — | 13,085 | — | 724,516 |
| Salvatore Mancuso | PSU | 2025-02-26 | — | 18,043 | — | 36,086 | 1,040,002 |
| Heather Newman | PSU | 2025-02-26 | — | 8,380 | — | 16,760 | 483,025 |
| Charles Whitaker | RSU | 2025-02-26 | — | — | 13,085 | — | 724,516 |
| Heather Newman | RSU | 2025-12-09 | — | — | 25,751 | — | 1,500,011 |
| William Gifford Jr. | RSU | 2025-02-26 | — | — | 84,433 | — | 4,675,055 |
| William Gifford Jr. | PSU | 2025-02-26 | — | 81,107 | — | 162,214 | 4,675,024 |
| Charles Whitaker | RSU | 2025-12-09 | — | — | 17,168 | — | 1,000,046 |
| Jody Begley | RSU | 2025-02-26 | — | — | 24,924 | — | 1,380,042 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jody Begley | $1,380,042 | $920,053 | $0 | 40.0% |
| Salvatore Mancuso | 1,560,050 | 1,040,002 | 0 | 40.0% |
| Charles Whitaker | 1,724,562 | 483,025 | 0 | 21.9% |
| Heather Newman | 2,224,527 | 483,025 | 0 | 17.8% |
| William Gifford Jr. | 4,675,055 | 4,675,024 | 0 | 50.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Salvatore Mancuso | RSU | 16,348 | — | $942,626 |
| Jody Begley | RSU | 16,348 | — | 942,626 |
| William Gifford Jr. | PSU | 88,718 | — | 5,115,480 |
| William Gifford Jr. | RSU | 85,883 | — | 4,952,014 |
| William Gifford Jr. | PSU | 84,433 | — | 4,868,407 |
| William Gifford Jr. | RSU | 81,107 | — | 4,676,630 |
| William Gifford Jr. | PSU | 70,311 | — | 4,054,132 |
| William Gifford Jr. | RSU | 67,013 | — | 3,863,970 |
| Salvatore Mancuso | PSU | 29,634 | — | 1,708,696 |
| Jody Begley | PSU | 29,634 | — | 1,708,696 |
| Salvatore Mancuso | PSU | 28,175 | — | 1,624,571 |
| Jody Begley | PSU | 26,897 | — | 1,550,881 |
| Heather Newman | PSU | 25,751 | — | 1,484,803 |
| Salvatore Mancuso | PSU | 25,728 | — | 1,483,476 |
| Jody Begley | PSU | 25,728 | — | 1,483,476 |
| Jody Begley | PSU | 24,924 | — | 1,437,118 |
| Salvatore Mancuso | RSU | 19,125 | — | 1,102,748 |
| Jody Begley | RSU | 19,125 | — | 1,102,748 |
| Heather Newman | PSU | 18,951 | — | 1,092,715 |
| Salvatore Mancuso | RSU | 18,043 | — | 1,040,359 |
| Heather Newman | PSU | 17,719 | — | 1,021,678 |
| Charles Whitaker | PSU | 17,168 | — | 989,907 |
| Charles Whitaker | PSU | 16,765 | — | 966,670 |
| Jody Begley | RSU | 15,962 | — | 920,369 |
| Charles Whitaker | PSU | 14,555 | — | 839,241 |
| Heather Newman | PSU | 13,085 | — | 754,481 |
| Charles Whitaker | PSU | 13,085 | — | 754,481 |
| Heather Newman | RSU | 12,231 | — | 705,239 |
| Heather Newman | RSU | 11,259 | — | 649,194 |
| Charles Whitaker | RSU | 10,820 | — | 623,881 |
| Charles Whitaker | RSU | 9,248 | — | 533,240 |
| Heather Newman | RSU | 8,380 | — | 483,191 |
| Charles Whitaker | RSU | 8,380 | — | 483,191 |
Our goal is to design our executive compensation program to align the interests of our executive officers with the interests of our shareholders. We believe this requires clear articulation of corporate and individual performance goals, a competitive, financially disciplined executive compensation program that rewards past success and creates the appropriate incentives for future business success, and transparent measurement against both corporate and individual performance goals.
| CEO STI target (% of salary) | 175% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-14 | 977,966,533 | 38,503,766 | 8,808,032 | 96.21% | Passed |
| 2025 | 2025-05-13 | 986,172,109 | 50,685,554 | 8,305,182 | 95.11% | Passed |
| 2024 | 2024-05-16 | 986,440,596 | 50,570,077 | 9,423,434 | 95.12% | Passed |
| 2023 | 2023-05-18 | 1,040,794,362 | 65,304,188 | 9,654,302 | 94.1% | Passed |
| 2022 | 2022-05-19 | 1,078,752,847 | 77,032,438 | 9,543,455 | 93.34% | Passed |
| 2021 | 2021-05-20 | 1,007,173,884 | 174,179,832 | 11,032,255 | 85.26% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-14 | 96.21%a |
| 2025 | 2025-05-13 | 95.11%b |
| 2024 | 2024-05-16 | 95.12%c |
a. Approved under the standard stated in the filing — “Are abstentions and broker non-votes counted? For purposes of all proposals, abstentions and broker non-votes will not be considered votes cast and, therefore, will not affect the outcome of the vote on those proposals at the 2026 Annual Meeting.”.
b. Approved under the standard stated in the filing — “Are abstentions and broker non-votes counted? For purposes of all proposals, abstentions and broker non-votes will not be considered votes cast and, therefore, will not affect the outcome of the vote on those proposals at the 2025 Annual Meeting.”.
c. Approved under the standard stated in the filing — “Are abstentions and broker non-votes counted? For purposes of all proposals, abstentions and broker non-votes will not be considered votes cast and, therefore, will not affect the outcome of the vote on those proposals at the 2024 Annual Meeting.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 147 : 1 |
|---|---|
| CEO total compensation | $24,581,074 |
| Median employee compensation | $166,721 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Kathryn B. McQuadeIndependent · Board Chair · Compensation and Talent Development · Executive (Chair) · Finance | $220,000 | $335,037 | — | — | $30,000 | $585,037 |
| Marjorie M. ConnellyIndependent · Audit (Chair) · Compensation and Talent Development · Executive · Nominating, Corporate Governance and Social Responsibility | 150,000 | 185,052 | — | — | 30,000 | 365,052 |
| George MunozNot independent · Not standing for re-election | 150,000 | 185,052 | — | — | 18,000 | 353,052 |
| Virginia E. ShanksIndependent · Compensation and Talent Development · Executive · Finance (Chair) · Innovation | 143,000 | 185,052 | — | — | 20,000 | 348,052 |
| Debra J. Kelly-EnnisIndependent · Audit · Executive · Innovation · Nominating, Corporate Governance and Social Responsibility (Chair) | 143,000 | 185,052 | — | — | 14,300 | 342,352 |
| R. Matt DavisIndependent · Compensation and Talent Development · Innovation · Nominating, Corporate Governance and Social Responsibility | 125,000 | 185,052 | — | — | 30,000 | 340,052 |
| Richard S. StoddartIndependent · Audit · Innovation · Nominating, Corporate Governance and Social Responsibility | 114,917 | 185,052 | — | — | 30,500 | 330,469 |
| Ellen R. StrahlmanIndependent · Executive · Finance · Innovation (Chair) · Nominating, Corporate Governance and Social Responsibility | 143,000 | 185,052 | — | — | 0 | 328,052 |
| M. Max YzaguirreIndependent · Audit · Compensation and Talent Development · Finance · Innovation | 130,000 | 185,052 | — | — | 12,062 | 327,114 |
| Ian L.T. ClarkeIndependent · Audit · Finance · Nominating, Corporate Governance and Social Responsibility | 125,000 | 185,052 | — | — | 0 | 310,052 |
| Salvatore MancusoEmployee director · Newly elected | — | — | — | — | — | 0 |
| William F. Gifford JrEmployee director · Executive · Not standing for re-election | — | — | — | — | — | 0 |
| Annual cash retainer | $110,000 |
|---|---|
| Annual equity retainer | $185,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 25,000 / 18,000 |
| Stock ownership guideline | $550,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,443,917 |
| Equity awards (grant-date value) | $2,000,505 |
| All other compensation | $184,862 |
| Total cost of the board | $3,629,284 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Altria Group | 2025 | William Gifford Jr. | $1,450,000 | $9,350,079 | — | $8,600,000 | $24,561,180 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, William Gifford Jr. | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Summary Compensation Table” · page 60. As printed: 24,561,180. Filing ↗ |
| 2 | Section 01, Jody Begley | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Summary Compensation Table” · page 60. As printed: 10,837,792. Filing ↗ |
| 3 | Section 01, Salvatore Mancuso | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Summary Compensation Table” · page 60. As printed: 7,616,750. Filing ↗ |
| 4 | Section 01, Heather Newman | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Summary Compensation Table” · page 60. As printed: 6,157,074. Filing ↗ |
| 5 | Section 01, Charles Whitaker | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Summary Compensation Table” · page 60. As printed: 5,994,559. Filing ↗ |
| 6 | Section 03, Jody Begley PSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2408979–2408986 |
| 7 | Section 03, Salvatore Mancuso RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2393544–2393553 |
| 8 | Section 03, Charles Whitaker PSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2453410–2453417 |
| 9 | Section 03, Heather Newman RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2433227–2433234 |
| 10 | Section 03, Salvatore Mancuso PSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2388815–2388824 |
| 11 | Section 03, Heather Newman PSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2428469–2428476 |
| 12 | Section 03, Charles Whitaker RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2458498–2458505 |
| 13 | Section 03, Heather Newman RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2438004–2438013 |
| 14 | Section 03, William Gifford Jr. RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2374460–2374469 |
| 15 | Section 03, William Gifford Jr. PSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2369370–2369379 |
| 16 | Section 03, Charles Whitaker RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2464232–2464241 |
| 17 | Section 03, Jody Begley RSU | DEF 14A | 1900-01-01 | 0001104659-26-038900 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2414067–2414076 |
| 18 | Section 07, pay ratio | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “CEO Pay Ratio”. As printed: 147 : 1. Filing ↗machine: span 2919878–2919888 |
| 19 | Section 08, Kathryn B. McQuade | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 585,037. Filing ↗ |
| 20 | Section 08, Marjorie M. Connelly | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 365,052. Filing ↗ |
| 21 | Section 08, George Munoz | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 353,052. Filing ↗ |
| 22 | Section 08, Virginia E. Shanks | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 348,052. Filing ↗ |
| 23 | Section 08, Debra J. Kelly-Ennis | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 342,352. Filing ↗ |
| 24 | Section 08, R. Matt Davis | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 340,052. Filing ↗ |
| 25 | Section 08, Richard S. Stoddart | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 330,469. Filing ↗ |
| 26 | Section 08, Ellen R. Strahlman | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 328,052. Filing ↗ |
| 27 | Section 08, M. Max Yzaguirre | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 327,114. Filing ↗ |
| 28 | Section 08, Ian L.T. Clarke | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 310,052. Filing ↗ |
| 29 | Section 08, Salvatore Mancuso | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 30 | Section 08, William F. Gifford Jr | DEF 14A | 2026-04-02 | 0001104659-26-038900 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 31 | Section 06, 2026 vote | Form 8-K | 2026-05-18 | 0000764180-26-000073 | Item 5.07 · say-on-pay result. As reported: 96.21% (votes for as printed: 977,966,533). Filing ↗ |
| 32 | Section 06, 2025 vote | Form 8-K | 2025-05-19 | 0000764180-25-000057 | Item 5.07 · say-on-pay result. As reported: 95.11% (votes for as printed: 986,172,109). Filing ↗ |
| 33 | Section 06, 2024 vote | Form 8-K | 2024-05-20 | 0000764180-24-000073 | Item 5.07 · say-on-pay result. As reported: 95.12% (votes for as printed: 986,440,596). Filing ↗ |
| 34 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 35 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 36 | Section 09b board cost (computed) | Computed | — | — | Cash 1,443,917 + equity 2,000,505 + all other 184,862 = 3,629,284, summed across the director compensation table rows.machine: formula: Σ = 3,629,284 |
| 37 | Altria Group (subject), Section 10b CEO total | DEF 14A | 2026-04-02 | 0001104659-26-038900 | CEO total compensation as printed in Altria Group's own proxy. As printed: 24,561,180. Filing ↗ |
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