Universal Corporation filed Form 8-K/A on March 16, 2026, amending its prior 8-K to disclose material changes to Steven S. Diel's compensation as the newly elected Senior Vice President and Chief Financial Officer, effective April 1, 2026. The Compensation Committee approved his base salary, target bonus, long-term incentives, and a one-time RSU grant.
Key takeaways
Steven S. Diel elected Senior Vice President and Chief Financial Officer effective April 1, 2026
Annual base salary: $490,000
Annual target bonus opportunity: $350,000
Annual long-term incentive equity awards targeted at $560,000
One-time RSU grant of ~$1.2 million based on VWAP from January 31 to March 31, 2026
RSUs vest one-third annually on April 1, 2027, 2028, and 2029, subject to continued employment