Babeau Emmanuel 4

What Happened
Emmanuel Babeau, Chief Financial Officer of Philip Morris International (PM), reported sales totaling 36,028 shares across two related transactions. On 2026-02-18, 2,228 shares were withheld to satisfy tax obligations tied to the vesting of restricted awards (value reported $406,989). On 2026-02-19, Babeau sold 33,800 shares in an open-market sale for a weighted average price of $181.61, totaling $6,138,418. Combined, the transactions represent roughly $6.55 million in disposals. These were sales/withholdings (not purchases).

Key Details

• Transaction dates: 2026-02-18 (tax withholding) and 2026-02-19 (open-market sale). Filing date: 2026-02-20 (appears timely).
• Prices and amounts:
  • 2,228 shares withheld at $182.67 (F — tax withholding) = $406,989.
  • 33,800 shares sold at a weighted average $181.61 (S — open-market sale) = $6,138,418. Footnote notes individual sale prices ranged $181.04–$182.07.
• Shares owned after transaction: not specified in the provided report.
• Relevant footnotes:
  • F1: Withholding of shares to satisfy tax obligations from vesting of Restricted Share Units (RSUs) and Performance Stock Units (PSUs).
  • F2: Filing notes inclusion of 42,800 Restricted Share Units in the reporting person’s holdings.
  • F3: The open-market sale represents shares sold to cover annual Swiss tax obligations.
  • F4: The reported sale price is a weighted average; the filer can provide per-trade price breakdown on request.
• Transaction codes: F = tax withholding related to awards; S = sale.

Context
The 2,228-share transaction was a tax-withholding tied to vesting (a common administrative event), while the larger 33,800-share sale was an open-market disposal to cover tax obligations. Sales by insiders are often routine (tax or diversification) and do not by themselves indicate company-specific bullish or bearish views. The filing appears timely under Form 4 reporting rules.