secwatch.observer — SEC 8-K summary
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Issuer:     Philip Morris International Inc. (PM)
CIK:        0001413329
Form:       8-K
Filed at:   2023-03-03T23:59:59+00:00
Accession:  0001413329-23-000098
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

President of Middle East & Africa Drago Azinovic to depart PMI on March 31, 2023
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- Severance payment of CHF 2,401,909 (~$2.55M) plus CHF 1,267,500 (~$1.35M) for 24-month non-compete.
- Unvested 2021-2023 RSUs will fully vest on termination date; PSUs vest on scheduled dates per performance.
- No pro-rated incentive compensation for Jan-Mar 2023; 2022 IC and 2023 equity awards remain eligible.
- Separation agreement includes standard release of claims, confidentiality, and non-compete obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413329/000141332923000098/0001413329-23-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413329/000141332923000098/pm-20230227.htm
  HTML page:      https://secwatch.observer/filing/0001413329-23-000098

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