On March 16, 2026, Universal Corporation (NYSE: UVV) filed an amended Form 8-K/A with the Securities and Exchange Commission (SEC) to disclose the appointment of Steven S. Diel as the company's Senior Vice President and Chief Financial Officer, effective April 1, 2026. This appointment follows the initial announcement made on February 9, 2026, where the Board of Directors elected Diel to this key leadership position. The amendment provides additional details regarding Diel's compensation package, which was not finalized at the time of the initial filing.

Diel's annual base salary is set at $490,000, with an annual target bonus opportunity of $350,000. Furthermore, he will receive long-term incentive equity awards targeted at $560,000. In a notable move, Diel will also be granted a one-time award of restricted stock units (RSUs) valued at approximately $1.2 million, based on the volume-weighted average price of the company's common stock from January 31, 2026, to March 31, 2026. The RSUs will vest in three equal installments over three years, contingent upon Diel's continued employment with the company.

This leadership change is expected to enhance the company's financial strategy and operational execution, particularly as Universal Corporation continues to navigate the complexities of the market. The compensation package reflects the company's commitment to attracting top talent and aligning executive incentives with shareholder interests. Investors may view this appointment positively, as it signals a proactive approach to leadership and governance within the organization. The market's response to this announcement will be closely monitored, as it could influence the company's stock performance in the near term.

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