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, Inc. through a deferred compensation plan.

Summary

• On September 30, 2024, A. Akiva Katz, a director of Veris Residential, Inc., acquired 1,539.712 phantom stock units.
• These units were obtained through the Veris Residential, Inc. Deferred Compensation Plan for Directors.
• The acquisition includes a quarterly director's fee and a quarterly dividend credited on cumulative phantom stock units.
• 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 or a change in control.
• Following the transaction, Katz directly owns 17,916.467 shares of Veris Residential, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with the company's performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance 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 through 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