secwatch.observer — SEC 8-K summary
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Issuer:     ALTRIA GROUP, INC. (MO)
CIK:        0000764180
Form:       8-K
Filed at:   2022-09-30T23:59:59+00:00
Accession:  0000764180-22-000094
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Altria exercises option to exit JUUL non-compete; carrying value drops from $12.8B to $450M
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- Exercised option on Sept 29, 2022, permanently terminating non-competition obligations to JUUL.
- Carrying value of JUUL investment was $450M at June 30, 2022, down from initial $12.8B.
- Lost board designation rights (except one independent director if ownership >=10%), preemptive and consent rights.
- JUUL shares converted to single vote common stock, significantly reducing Altria's voting power.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764180/000076418022000094/0000764180-22-000094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764180/000076418022000094/mo-20220929.htm
  HTML page:      https://secwatch.observer/filing/0000764180-22-000094

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer