Form 4: Veris Residential Director A. Akiva Katz Reports Acquisition of Phantom Stock Units

Director A. Akiva Katz reports acquiring phantom stock units in Veris Residential through a deferred compensation plan.

Summary

• A. Akiva Katz, a director of Veris Residential, Inc., reported the acquisition of 1,673.265 phantom stock units on December 31, 2024.
• These units were acquired under the Veris Residential, Inc. Deferred Compensation Plan for Directors.
• The phantom stock units convert to common stock on a one-for-one basis and are settled in common stock upon termination of service or a change in control.
• The price of the transaction was $16.62, and following the transaction, Katz directly owns 19,589.732 shares of common stock.
• The acquisition includes a quarterly director's fee and a quarterly dividend credited on cumulative phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of Veris Residential.
• The Deferred Compensation Plan for Directors incentivizes continued service and commitment to the company.

Future Outlook

The phantom stock units will be settled in Veris Residential, Inc. common stock upon the termination of the reporting person's service on the Board of Directors 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.

Related Party Transactions

• The acquisition of phantom stock units under the Deferred Compensation Plan is a related party transaction.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates