Companies Altria Group, Inc
Altria (MO): executive pay, fiscal 2025
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CEO pay, last three years
- $18,528,628FY2023
- $26,788,612FY2024
- $24,561,180FY2025
CEO total pay was $24,561,180 in fiscal 2025, down from $26,788,612 in fiscal 2024.
FY2025: salary $1,450,000 · stock awards $9,350,079
Executives and directors
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| 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.
Three-year trend — total compensation per named executive
| 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.
Incentive-plan design — the Compensation Discussion & Analysis
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 |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| 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 |
Vehicle mix — grant-date fair value by award type
| 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.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Heather Newman | RSU | 8,380 | — | $483,191 |
| Charles Whitaker | RSU | 8,380 | — | 483,191 |
| Charles Whitaker | RSU | 9,248 | — | 533,240 |
| Charles Whitaker | RSU | 10,820 | — | 623,881 |
| Heather Newman | RSU | 11,259 | — | 649,194 |
| Heather Newman | RSU | 12,231 | — | 705,239 |
| Heather Newman | PSU | 13,085 | — | 754,481 |
| Charles Whitaker | PSU | 13,085 | — | 754,481 |
| Charles Whitaker | PSU | 14,555 | — | 839,241 |
| Jody Begley | RSU | 15,962 | — | 920,369 |
| Salvatore Mancuso | RSU | 16,348 | — | 942,626 |
| Jody Begley | RSU | 16,348 | — | 942,626 |
| Charles Whitaker | PSU | 16,765 | — | 966,670 |
| Charles Whitaker | PSU | 17,168 | — | 989,907 |
| Heather Newman | PSU | 17,719 | — | 1,021,678 |
| Salvatore Mancuso | RSU | 18,043 | — | 1,040,359 |
| Heather Newman | PSU | 18,951 | — | 1,092,715 |
| Salvatore Mancuso | RSU | 19,125 | — | 1,102,748 |
| Jody Begley | RSU | 19,125 | — | 1,102,748 |
| Jody Begley | PSU | 24,924 | — | 1,437,118 |
| Salvatore Mancuso | PSU | 25,728 | — | 1,483,476 |
| Jody Begley | PSU | 25,728 | — | 1,483,476 |
| Heather Newman | PSU | 25,751 | — | 1,484,803 |
| Jody Begley | PSU | 26,897 | — | 1,550,881 |
| Salvatore Mancuso | PSU | 28,175 | — | 1,624,571 |
| Salvatore Mancuso | PSU | 29,634 | — | 1,708,696 |
| Jody Begley | PSU | 29,634 | — | 1,708,696 |
| William Gifford Jr. | RSU | 67,013 | — | 3,863,970 |
| William Gifford Jr. | PSU | 70,311 | — | 4,054,132 |
| William Gifford Jr. | RSU | 81,107 | — | 4,676,630 |
| William Gifford Jr. | PSU | 84,433 | — | 4,868,407 |
| William Gifford Jr. | RSU | 85,883 | — | 4,952,014 |
| William Gifford Jr. | PSU | 88,718 | — | 5,115,480 |
Director compensation
| 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 |
Board fee structure and ownership guideline
| 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 | $5 |
Total cost of the board
| 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.
Peer group, and who names Altria as a peer
Companies that benchmark against MO
2 companies name MO as a compensation peer
The list of companies that name MO as a peer is temporarily unavailable — recheck shortly.
Chief executive pay against the peer group
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, Inc | 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.
Say-on-pay history and pay ratio
| 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.
Say-on-pay — history, company’s computation
| 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.
CEO pay ratio
| Ratio (CEO : median employee) | 147 : 1 |
|---|---|
| CEO total compensation | $24,581,074 |
| Median employee compensation | $166,721 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (37 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, William Gifford Jr.. DEF 14A, filed 2026-04-02. Section “Summary Compensation Table” · page 60. As printed: 24,561,180. View filing ↗
- Section 01, Jody Begley. DEF 14A, filed 2026-04-02. Section “Summary Compensation Table” · page 60. As printed: 10,837,792. View filing ↗
- Section 01, Salvatore Mancuso. DEF 14A, filed 2026-04-02. Section “Summary Compensation Table” · page 60. As printed: 7,616,750. View filing ↗
- Section 01, Heather Newman. DEF 14A, filed 2026-04-02. Section “Summary Compensation Table” · page 60. As printed: 6,157,074. View filing ↗
- Section 01, Charles Whitaker. DEF 14A, filed 2026-04-02. Section “Summary Compensation Table” · page 60. As printed: 5,994,559. View filing ↗
- Section 03, Jody Begley PSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Salvatore Mancuso RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Whitaker PSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Heather Newman RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Salvatore Mancuso PSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Heather Newman PSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Whitaker RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Heather Newman RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, William Gifford Jr. RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, William Gifford Jr. PSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Whitaker RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jody Begley RSU. DEF 14A, filed 2026-04-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-02. Section “CEO Pay Ratio”. As printed: 147 : 1. View filing ↗
- Section 08, Kathryn B. McQuade. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 585,037. View filing ↗
- Section 08, Marjorie M. Connelly. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 365,052. View filing ↗
- Section 08, George Munoz. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 353,052. View filing ↗
- Section 08, Virginia E. Shanks. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 348,052. View filing ↗
- Section 08, Debra J. Kelly-Ennis. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 342,352. View filing ↗
- Section 08, R. Matt Davis. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 340,052. View filing ↗
- Section 08, Richard S. Stoddart. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 330,469. View filing ↗
- Section 08, Ellen R. Strahlman. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 328,052. View filing ↗
- Section 08, M. Max Yzaguirre. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 327,114. View filing ↗
- Section 08, Ian L.T. Clarke. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 310,052. View filing ↗
- Section 08, Salvatore Mancuso. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, William F. Gifford Jr. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-18. Item 5.07 · say-on-pay result. As reported: 96.21% (votes for as printed: 977,966,533). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-19. Item 5.07 · say-on-pay result. As reported: 95.11% (votes for as printed: 986,172,109). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-20. Item 5.07 · say-on-pay result. As reported: 95.12% (votes for as printed: 986,440,596). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- 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).
- 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.
- Altria Group, Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Altria Group, Inc's own proxy. As printed: 24,561,180. View filing ↗