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Meeting calendar
PM · Annual meeting · Wednesday, May 6, 2026

Philip Morris International Inc

10 nominees · 4 ballot items.

Election of ten directors; advisory vote to approve executive compensation (say-on-pay); ratification of PricewaterhouseCoopers SA as independent auditors; shareholder proposal requesting a report on filter cleanup costs and extended producer responsibility (EPR) laws for cigarette filters; and transaction of other business.

Market cap
$300.8B
1Y TSR
+8.5%
Board grade
B+
Record date
Mar 13, 2026
Filing
DEF 14A
Meeting concluded · May 6, 2026

Follow how the vote landed and what changed on Philip Morris International Inc’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.

Proposals

On the ballot4

  1. 1

    Election of Directors

    ManagementBoard: FOR

    Elect ten director nominees named in the proxy statement to the Board of Directors.

  2. 2

    Advisory Vote Approving Executive Compensation

    ManagementBoard: FOR

    Advisory (non-binding) vote to approve the compensation of the named executive officers (say-on-pay).

    More detail

    The advisory proposal asks shareholders to approve, on a non-binding basis, the Company’s executive compensation as detailed in the proxy, including the Compensation Discussion and Analysis and compensation tables. Management seeks this annual approval to demonstrate shareholder support for pay practices and to use feedback for future compensation design. The Company’s Compensation Committee links pay to multi-year performance metrics including PSUs tied to TSR, adjusted diluted EPS growth (currency neutral), and a Sustainability/VALUE Index, along with annual incentive metrics tied to market share, smoke-free shipment volume, adjusted net revenues, adjusted OI, operating cash flow, strategic initiatives, and a currency modifier. Management’s recommendation to vote FOR is based on its view that the program aligns executives’ incentives with long-term shareholder value, includes robust governance (share ownership requirements, clawbacks, anti-hedging/pledging policies), and received strong shareholder support in recent say-on-pay votes. The board notes past shareholder engagement and high approval in recent years, asserting that continued support will allow the company to retain and motivate leadership through its transformation to a smoke-free future.

  3. 3

    Ratification of Appointment of PricewaterhouseCoopers SA

    ManagementBoard: FOR

    Ratify the Audit and Risk Committee’s selection of PricewaterhouseCoopers SA as independent auditors for fiscal year ending December 31, 2026.

  4. 4

    Shareholder Proposal: Report on Filter Cleanup Costs and EPR Laws for Filters

    Shareholder — As You Sow on behalf of Sam D. Yagan TTEE Sam Droste Yagan Revocable TrustBoard: AGAINST

    Shareholder proposal requesting a public report assessing risks and benefits related to filter cleanup costs and extended producer responsibility laws for cigarette filters.

    More detail

    The shareholder proposal requests that PMI issue a public report assessing the reputational, financial, and operational risks of not taking responsibility for cigarette filter cleanup costs and the benefits of promoting EPR laws. The proponent (As You Sow on behalf of Sam D. Yagan TTEE Sam Droste Yagan Revocable Trust) frames cigarette filters as a major single-use plastic pollution issue with significant cleanup costs borne by taxpayers, and urges PMI to assess the case for contributing to cleanup or supporting EPR laws, particularly in the U.S. Management opposes, arguing the topic is already covered in PMI’s double materiality assessment and Value Report, that it is impact-material but not financially material, that voluntary programs are preferred and more effective than blanket EPR mandates, that the proponent’s evidence is methodologically weak, and that PMI does not sell cigarettes in the U.S. so U.S. EPR laws are not directly applicable.

Director elections

Nominees on the ballot10

Independent
Tenure on this board
5.6 yrs
Also a director at
F5 Inc (FFIV)
Independent
Tenure on this board
2.5 yrs
Also a director at
Xylem Inc (XYL)Huntington Ingalls Industries Inc (HII)
Independent
Tenure on this board
8.2 yrs
Also a director at
Fidelity National Information Services Inc (FIS)Nextnav Inc (NN)
Independent
Tenure on this board
5.2 yrs
Also a director at
Amneal Pharmaceuticals Inc (AMRX)
Ownership

Top institutional holders10

Latest 13F quarter
1Capital World Investors8.6%133,450,504$22.1B
2VANGUARD CAPITAL MANAGEMENT LLC6.5%101,156,274$16.7B
3Capital Research Global Investors5.1%79,823,025$13.2B
4Capital International Investors4.7%72,761,312$12.0B
5STATE STREET CORP3.5%55,033,026$9.2B
6GQG Partners LLC3.2%50,105,900$8.3B
7BlackRock, Inc.3.1%48,747,349$8.1B
8GEODE CAPITAL MANAGEMENT, LLC2.1%33,449,437$5.5B
9BlackRock, Inc.2.0%31,473,768$5.2B
10VANGUARD PORTFOLIO MANAGEMENT LLC1.9%29,577,453$4.9B
Filings

Recent key filings

Periodic reports
Definitive proxies
Reference

Frequently asked questions

When is the Philip Morris International Inc 2026 annual meeting?
Philip Morris International Inc (PM) holds its 2026 annual shareholder meeting on Wednesday, May 6, 2026.
What is the record date for the Philip Morris International Inc 2026 meeting?
The record date for the Philip Morris International Inc 2026 meeting is Friday, March 13, 2026. Shareholders of record on or before that date are eligible to vote.
Who are the director nominees for Philip Morris International Inc's 2026 meeting?
The board is presenting 10 director nominees at the Philip Morris International Inc 2026 meeting, listed with their independence status and background.
What proposals will shareholders vote on at the Philip Morris International Inc 2026 meeting?
Shareholders will vote on 4 proposals at the Philip Morris International Inc 2026 meeting, each tagged with who proposed it and the board's recommendation.
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