Form 4: Veris Residential CEO Nia Mahbod Acquires Phantom Stock Units
SEC Form 4 Filing
Veris Residential CEO Nia Mahbod reports acquisition of phantom stock units as part of deferred compensation plan.
Summary
- On July 3, 2024, Nia Mahbod, CEO of Veris Residential, Inc., acquired 14.738 phantom stock units.
- These units were awarded as a quarterly dividend credited on cumulative phantom stock units previously granted for service as a director.
- The phantom stock units convert to common stock on a one-for-one basis and will be settled in Veris Residential, Inc. common stock upon termination of service on the Board or a change in control.
- Following the transaction, Mahbod directly owns 3,694.203 shares of Veris Residential common stock.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation, indicating a neutral to slightly positive sentiment due to alignment of interests.
Positives
- The acquisition of phantom stock units aligns the CEO's interests with the long-term performance of the company.
- The deferred compensation plan incentivizes continued service and commitment to Veris Residential.
Future Outlook
The phantom stock units will be settled in Veris Residential common stock upon the termination of the reporting person's service on the Board of Directors of Veris Residential, Inc. or upon a change in control of Veris Residential, Inc.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 07/03/2024 | Date of transaction: Nia Mahbod acquired phantom stock units. |
| 07/08/2024 | Date of report filing. |
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