---
schema_version: "secwatch.filing_event.v1"
accession: "0001413329-21-000070"
form_type: "8-K"
ticker: "PM"
cik: "0001413329"
company_name: "Philip Morris International Inc."
filed_at: "2021-08-20T23:59:59+00:00"
generated_at: "2026-06-29T08:36:45.434590+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Martin G. King to retire as CEO PMI America; separation agreement provides CHF 1.27M severance + non-compete payment

## Summary
- Martin G. King retires effective Aug 31, 2021; receives severance of CHF 1,267,506 (~$1.387M).
- 2021 incentive compensation prorated through termination date, paid Feb 2022 based on company/individual performance.
- All outstanding RSUs fully vest on termination date; PSUs vest on original schedule subject to performance.
- Non-compete payment of CHF 1,267,506 paid in two installments (Sept 2022 and Sept 2023) with compliance confirmation.
- King also receives CHF 35,000 outplacement lump sum and relocation support within one year.

## SEC filing metadata
- accession: 0001413329-21-000070
- form_type: 8-K
- ticker: PM
- cik: 0001413329
- company_name: Philip Morris International Inc.
- filed_at: 2021-08-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1413329/000141332921000070/0001413329-21-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1413329/000141332921000070/pm-20210816.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001413329-21-000070
- JSON: https://secwatch.observer/filing/0001413329-21-000070.json
- Plain text: https://secwatch.observer/filing/0001413329-21-000070.txt

## Key facts
- Executive change
  Martin G. King departed as CEO, PMI America at Philip Morris International Inc..
  - Action: retire
  - Role: CEO, PMI America
  source text: On June 16, 2021, Philip Morris International Inc. (the “Company”) disclosed that effective August 31, 2021, Martin G. King, who has served in many roles at the Company, but most recently as CEO, PMI America, will retire from the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1413329/000141332921000070/0001413329-21-000070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.