Universal Corp (UVV) hires Anubhav Mittal as new CFO with equity grant

Rhea-AI Filing Summary

Universal Corporation appointed Anubhav Mittal as Senior Vice President and Chief Financial Officer, effective February 17, 2026, as part of a planned transition following the previously announced retirement of current CFO Johan C. Kroner on July 1, 2026. Kroner will step down from the CFO role on the effective date but remain a Senior Vice President to support the handover.

Mittal joins from Archer Daniels Midland, where he held senior finance and M&A roles. His compensation includes a $650,000 annual base salary, a $500,000 annual target bonus, and targeted annual long-term equity awards of $850,000 beginning in May 2026. On the effective date, he will receive a one-time grant of restricted stock units with an approximate value of $2 million, vesting in three equal installments on May 19 of 2026, 2027, and 2028, plus a $600,000 signing bonus subject to repayment if he resigns voluntarily or is terminated for cause within 24 months.

Insights

Corporate governance analyst

Planned CFO succession with market-level pay and equity-heavy package.

Universal Corporation is executing an orderly CFO transition, moving from long-time executive Johan C. Kroner to Anubhav Mittal on February 17, 2026. The company had already disclosed Kroner’s intention to retire on July 1, 2026, and he will remain as Senior Vice President to support continuity, which limits disruption risk in finance leadership.

Mittal brings experience from Archer Daniels Midland in global business development, M&A, and nutrition and pet solutions finance, plus prior roles at the Kellogg Company. His package combines a $650,000 base salary, a $500,000 target annual bonus, and targeted long-term incentive equity of $850,000, aligning a significant portion of compensation with shareholder value through stock-based awards.

The one-time $2 million restricted stock unit grant and $600,000 signing bonus, repayable if he departs within 24 months for specified reasons, are designed to secure his commitment and support retention through at least the initial two-year period. Subsequent company filings and earnings discussions may provide more detail on how his M&A and strategic background influences capital allocation and growth priorities.

UNIVERSAL CORP /VA/ false 0000102037 0000102037 2026-01-20 2026-01-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 20, 2026

Universal Corporation

(Exact name of registrant as specified in its charter)

Virginia		001-00652		54-0414210
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

9201 Forest Hill Avenue Richmond, Virginia				23235
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code: (804) 359-9311

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, no par value		UVV		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed, Johan C. Kroner notified Universal Corporation (the “Company”) of his intention to retire as Senior Vice President and Chief Financial Officer of the Company, effective on July 1, 2026. On January 20, 2026, the Board of Directors (the “Board”) of the Company elected Anubhav Mittal as the Company’s Senior Vice President and Chief Financial Officer, effective February 17, 2026 (the “Effective Date”). Mr. Kroner will step down as the Company’s Senior Vice President and Chief Financial Officer as of the Effective Date, but to support a smooth transition of leadership, Mr. Kroner will remain with the Company as a Senior Vice President until the effective date of his retirement.

Mr. Mittal, age 50, has served as Archer Daniels Midland Company’s (“ADM”) Global Head of Business Development and M&A and as CFO of ADM Nutrition, a global nutrition, flavors, and ingredients business, since December 2023. From October 2021 through November 2023, Mr. Mittal served as CFO of ADM’s Global Pet Solutions business and as Vice President of Global Corporate Development and M&A. Before joining ADM in December 2016, Mr. Mittal spent four years at the Kellogg Company in senior global finance, corporate development and strategy roles. Mr. Mittal holds an MBA from Harvard Business School and a Bachelor of Technology in Mechanical Engineering from the Indian Institute of Technology, Kanpur.

In connection with his election as the Company’s Senior Vice President and Chief Financial Officer, Mr. Mittal’s (i) annual base salary will be $650,000, (ii) annual target bonus opportunity will be $500,000 and (iii) beginning in May 2026, annual long-term incentive equity awards will be targeted at $850,000. In addition, on the Effective Date, Mr. Mittal will receive a one-time grant of restricted stock units (“RSUs”) under the Company’s shareholder-approved 2023 Stock Incentive Plan equal to approximately $2 million based on the volume-weighted average price from December 19, 2025 to February 16, 2026. One-third of the RSUs will vest on May 19, 2026, May 19, 2027, and May 19, 2028, respectively, subject to Mr. Mittal’s continued employment with the Company through the applicable vesting date. The RSUs will earn dividend equivalent units during the respective vesting periods and only vest when the underlying RSU awards vest. Finally, on the Effective Date, Mr. Mittal will also receive a special one-time signing bonus of $600,000, which is subject to repayment in full if Mr. Mittal voluntarily resigns or his employment is terminated for cause within the first 24 months of the Effective Date.

There are no arrangements or understandings between Mr. Mittal and any other person pursuant to which Mr. Mittal was selected as an officer, and Mr. Mittal does not have a family relationship with any of the Company’s directors or executive officers. Additionally, neither Mr. Mittal nor any member of his immediate family has a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Item 7.01. Regulation FD Disclosure.

On January 21, 2026, the Company issued a press release announcing the election of Mr. Mittal. A copy of this release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

No.		Description
99.1		Press release dated January 21, 2026, announcing the election of Anubhav Mittal as Chief Financial Officer
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				UNIVERSAL CORPORATION
Date: January 21, 2026				By:		/s/ Catherine H. Claiborne
						Catherine H. Claiborne
						Vice President, General Counsel and Secretary

FAQ

What leadership change did Universal Corp (UVV) announce?

Universal Corporation announced that Anubhav Mittal has been elected Senior Vice President and Chief Financial Officer, effective February 17, 2026, succeeding Johan C. Kroner, who will retire on July 1, 2026.

What is the new CFO Anubhav Mittals compensation at Universal Corp (UVV)?

Anubhav Mittal will receive an annual base salary of $650,000, an annual target bonus opportunity of $500,000, and annual long-term incentive equity awards targeted at $850,000 beginning in May 2026.

What one-time equity award will Universal Corp (UVV) grant to its new CFO?

On the effective date, Universal Corporation will grant Anubhav Mittal restricted stock units valued at approximately $2 million, based on the volume-weighted average price from December 19, 2025 to February 16, 2026, vesting in three equal tranches on May 19 of 2026, 2027, and 2028.

Does the new CFO of Universal Corp (UVV) receive a signing bonus?

Yes. Anubhav Mittal will receive a special one-time signing bonus of $600,000, which must be repaid in full if he voluntarily resigns or is terminated for cause within the first 24 months after the effective date.

Will outgoing CFO Johan C. Kroner remain with Universal Corp (UVV) after the transition?

Johan C. Kroner will step down as Senior Vice President and CFO on February 17, 2026 but will continue as a Senior Vice President until his retirement on July 1, 2026 to help ensure a smooth leadership transition.

Does Universal Corp (UVV) disclose any related-party transactions involving the new CFO?

The company states that neither Anubhav Mittal nor his immediate family has a direct or indirect material interest in any transaction that would need disclosure under Item 404(a) of Regulation S-K.