Deepak Mishra - 16 Feb 2022 Form 4 Insider Report for Philip Morris International Inc. (PM)

Signature
/s/ Darlene Quashie Henry for Deepak Mishra
Issuer symbol
PM
Transactions as of
16 Feb 2022
Net transactions value
-$683,392
Form type
4
Filing time
18 Feb 2022, 14:50:59 UTC
Previous filing
14 Feb 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PM Common Stock Award $0 +9,615 +31% $0.000000 40,351 16 Feb 2022 Direct F1
transaction PM Common Stock Tax liability $683,392 -6,177 -15% $110.64 34,174 16 Feb 2022 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares of the Issuer's common stock were granted by the Issuer to the Reporting Person as settlement of certain performance shares that were awarded on February 7, 2019, for the performance period of fiscal years 2019 through 2021 (the "Performance Period"). Each performance share converts into one share of the Issuer's common stock and the vesting of such performance shares are contingent upon the Issuer meeting certain performance objectives over the Performance Period. On February 8, 2022, the Issuer's Compensation & Leadership Development Committee of its Board of Directors determined that the Issuer achieved 150% of its targeted performance goals for the Performance Period and thus awarded the Reported Person 9,615 shares of its common stock, representing 150% of the targeted amount, which shares are fully vested.
F2 Withholding of shares of Philip Morris International Inc. common stock to satisfy tax obligations in connection with the vesting of Restricted Share Units and Performance Share Units.
F3 The average of the high and low price of Philip Morris International Inc. common stock on February 16, 2022.
F4 Includes 20,220 Restricted Share Units.