Universal Corp details CEO compensation changes for Wigner and Freeman retirement

UNIVERSAL CORP /VA/

Preston Wigner's base salary set at $800,000; target bonus at 100% of salary.
Wigner receives annual LTI target award of $1.6M and a one-time RSU top-up grant of ~$2M vesting over 3 years.
George Freeman's base salary adjusted to $670,000 through Dec 31, 2024; eligible for prorated FY2025 bonus.
Freeman receives $140,000 lump sum for Senior Advisor role through March 31, 2025.
Compensation changes approved by Compensation Committee on Sep 25, 2024; effective Oct 1, 2024.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Preston D. Wigner

Chairman of the Board, President and Chief Executive Officer

UVV · UNIVERSAL CORP /VA/

Effective: 2024-10-01
Filed: October 1, 2024, 7:59 PM ET

the Board of Directors (the “Board”) of the Company named Preston D. Wigner, Senior Vice President, as Chairman of the Board (“Chairman”), President and Chief Executive Officer of the Company (the “Appointment”), effective October 1, 2024

Departed

George C. Freeman, III

Chairman, President and Chief Executive Officer

UVV · UNIVERSAL CORP /VA/

Effective: 2024-10-01
Successor: Preston D. Wigner
Filed: October 1, 2024, 7:59 PM ET

George C. Freeman, III, will retire as Chairman, President and Chief Executive Officer and as a member of the Board on the Effective Date

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Preston D. Wigner was named as Chairman of the Board, President and Chief Executive Officer at UNIVERSAL CORP /VA/.

Action: named
Role: Chairman of the Board, President and Chief Executive Officer

Exact text from the filing

the Board of Directors (the “Board”) of the Company named Preston D. Wigner, Senior Vice President, as Chairman of the Board (“Chairman”), President and Chief Executive Officer of the Company (the “Appointment”), effective October 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

George C. Freeman, III departed as Chairman, President and Chief Executive Officer at UNIVERSAL CORP /VA/.

Action: retire
Role: Chairman, President and Chief Executive Officer

Exact text from the filing

George C. Freeman, III, will retire as Chairman, President and Chief Executive Officer and as a member of the Board on the Effective Date

View on SEC.gov

UNIVERSAL CORP /VA/ filing history →

Source: SEC EDGAR

accession 0001104659-24-104950

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