What the executives and directors of Philip Morris International actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| Calantzopoulos Andre | Director | 987.2K | — | — |
| Olczak Jacek Group CEO PMI | CEO | 632.3K | — | $14.6M |
| Babeau Emmanuel Group Chief Financial Officer | CFO | 164.5K | — | $6.1M |
| De Wilde Frederic CEO PMI International | CEO | 133.5K | — | $3.7M |
| Volpetti Stefano Pr.SmokeFree&ChiefCons.Officer | Officer | 117.4K | — | — |
| Barth Werner Pr.Combusibles&GlobalComb.Mktg | Officer | 106.2K | — | — |
| Geissler Werner | Director | 98.4K | — | — |
| Andolina Massimo President, Europe Region | Officer | 86.7K | — | — |
| Riley Paul Pr East Asia, Australia & DF | Officer | 58.6K | — | — |
| Kennedy Stacey CEO PMI U.S. | CEO | 45.3K | — | $2.6M |
| Guerin Yann Group Chief Legal Officer | Officer | 34.4K | — | $727K |
| Polet Robert | Director | 29.8K | — | — |
| Dobrowolski Reginaldo Group Controller | Officer | 28.4K | — | $1.1M |
| Morparia Kalpana | Director | 28.2K | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-02-20 | Kennedy Stacey (CEO) | Discretionary sale | 14.4K | $183.13 | $2.6M |
| 2026-02-20 | Dobrowolski Reginaldo (Officer) | Discretionary sale | 1,000 | $183.58 | $184K |
| 2026-02-20 | Dobrowolski Reginaldo (Officer) | Discretionary sale | 5,000 | $183.46 | $917K |
| 2026-02-19 | Olczak Jacek (CEO) | Discretionary sale | 80K | $182.18 | $14.6M |
| 2026-02-19 | De Wilde Frederic (CEO) | Discretionary sale | 20K | $182.58 | $3.7M |
| 2026-02-19 | Babeau Emmanuel (CFO) | Discretionary sale | 33.8K | $181.61 | $6.1M |
| 2026-02-19 | Guerin Yann (Officer) | Discretionary sale | 4,000 | $181.69 | $727K |
| 2025-03-06 | Dahlgren Lars (Officer) | Discretionary sale | 3,679 | $152.96 | $563K |
| 2025-02-24 | Andolina Massimo (Officer) | Discretionary sale | 17.5K | $156.05 | $2.7M |
| 2025-02-20 | Calantzopoulos Andre (Director) | Discretionary sale | 40.6K | $149.06 | $6.1M |
| 2025-02-20 | Olczak Jacek (CEO) | Discretionary sale | 40K | $148.87 | $6M |
| 2025-02-20 | Barth Werner (Officer) | Discretionary sale | 10K | $148.67 | $1.5M |
| 2025-02-20 | Babeau Emmanuel (CFO) | Discretionary sale | 30K | $148.85 | $4.5M |
| 2025-02-20 | Guerin Yann (Officer) | Discretionary sale | 2,500 | $151.28 | $378K |
| 2025-02-12 | Dobrowolski Reginaldo (Officer) | Discretionary sale | 3,000 | $149.41 | $448K |
| 2025-02-12 | Dobrowolski Reginaldo (Officer) | Discretionary sale | 5,000 | $149.88 | $749K |
| 2025-02-07 | De Wilde Frederic (Officer) | Discretionary sale | 15K | $144.54 | $2.2M |
| 2024-10-31 | Volpetti Stefano (Officer) | Discretionary sale | 10K | $132.48 | $1.3M |
| 2024-10-23 | Calantzopoulos Andre (Director) | Discretionary sale | 101.9K | $129.85 | $13.2M |
| 2024-10-23 | De Wilde Frederic (Officer) | Discretionary sale | 25K | $130.96 | $3.3M |
| 2024-10-23 | Barth Werner (Officer) | Discretionary sale | 7,500 | $129.98 | $975K |
| 2024-08-22 | De Wilde Frederic (Officer) | Discretionary sale | 20K | $119.30 | $2.4M |
| 2024-08-08 | Andolina Massimo (Officer) | Discretionary sale | 9,000 | $115.35 | $1M |
| 2024-07-25 | De Wilde Frederic (Officer) | Discretionary sale | 20K | $113.01 | $2.3M |
| 2024-04-25 | De Wilde Frederic (Officer) | Discretionary sale | 20K | $96.42 | $1.9M |
| 2024-03-15 | Andolina Massimo (Officer) | Discretionary sale | 8,250 | $93.63 | $772K |
| 2024-03-07 | Barth Werner (Officer) | Discretionary sale | 5,000 | $91.46 | $457K |
| 2024-03-05 | Dobrowolski Reginaldo (Officer) | Discretionary sale | 2,000 | $90.69 | $181K |
| 2024-02-22 | Calantzopoulos Andre (Officer) | Discretionary sale | 95K | $90.23 | $8.6M |
| 2024-02-22 | Olczak Jacek (CEO) | Discretionary sale | 25K | $90.27 | $2.3M |
| 2024-02-22 | Babeau Emmanuel (CFO) | Discretionary sale | 15.4K | $90.38 | $1.4M |
| 2024-02-22 | Dobrowolski Reginaldo (Officer) | Discretionary sale | 3,995 | $90.33 | $361K |
| 2024-02-22 | Guerin Yann (Officer) | Discretionary sale | 2,420 | $90.03 | $218K |
| 2023-11-28 | De Wilde Frederic (Officer) | Discretionary sale | 10K | $94.25 | $943K |
| 2023-03-02 | Barth Werner (Officer) | Discretionary sale | 8,000 | $98.35 | $787K |
| 2023-02-17 | Calantzopoulos Andre (Officer) | Discretionary sale | 80K | $100.35 | $8M |
| 2023-02-17 | Olczak Jacek (CEO) | Discretionary sale | 45K | $100.64 | $4.5M |
| 2023-02-17 | Kennedy Stacey (Officer) | Discretionary sale | 20.3K | $100.30 | $2M |
| 2023-02-10 | Kennedy Stacey (Officer) | Discretionary sale | 8,756 | $101.31 | $887K |
| 2022-02-22 | De Wilde Frederic (Officer) | Discretionary sale | 29.9K | $108.49 | $3.2M |
| 2022-02-18 | Barth Werner (Officer) | Discretionary sale | 12K | $111.70 | $1.3M |
| 2022-02-17 | CALANTZOPOULOS ANDRE (Officer) | Discretionary sale | 75K | $110.69 | $8.3M |
| 2022-02-17 | Olczak Jacek (CEO) | Discretionary sale | 40K | $111.31 | $4.5M |
| 2021-07-27 | King Martin G. (CEO) | Discretionary sale | 21.7K | $100.18 | $2.2M |
| 2021-05-25 | Azinovic Drago (Officer) | Discretionary sale | 15K | $98.04 | $1.5M |
| 2021-05-25 | Riley Paul (Officer) | Discretionary sale | 11K | $98.04 | $1.1M |
| 2021-05-24 | De Wilde Frederic (Officer) | Discretionary sale | 10K | $97.76 | $978K |
| 2021-05-10 | Masseroli Mario (Officer) | Discretionary sale | 1,734 | $98.31 | $170K |
| 2021-04-27 | King Martin G. (CEO) | Discretionary sale | 21.1K | $94.51 | $2M |
| 2021-04-21 | Kennedy Stacey (Officer) | Discretionary sale | 10.6K | $94.28 | $997K |
| 2021-02-25 | Bendotti Charles (Officer) | Discretionary sale | 3,495 | $87.00 | $304K |
| 2021-02-25 | Bendotti Charles (Officer) | Discretionary sale | 15.6K | $87.00 | $1.4M |
| 2021-02-19 | CALANTZOPOULOS ANDRE (CEO) | Discretionary sale | 40K | $86.37 | $3.5M |
| 2021-02-08 | Masseroli Mario (Officer) | Discretionary sale | 2,000 | $85.05 | $170K |
| 2021-02-05 | Salzman Marian (Officer) | Discretionary sale | 2,000 | $84.39 | $169K |
| 2020-08-31 | Masseroli Mario (Officer) | Discretionary sale | 1,500 | $80.10 | $120K |
| 2020-08-21 | CAMILLERI LOUIS C (Director) | Discretionary sale | 37.5K | $77.50 | $2.9M |
| 2020-08-20 | CAMILLERI LOUIS C (Director) | Discretionary sale | 37.5K | $77.97 | $2.9M |
| 2020-08-10 | FIRESTONE MARC S (Officer) | Discretionary sale | 17K | $77.99 | $1.3M |
| 2020-02-26 | FIRESTONE MARC S (Officer) | Discretionary sale | 22K | $86.27 | $1.9M |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.