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

• On April 3, 2024, A. Akiva Katz, a director of Veris Residential, Inc., acquired 1,880.049 phantom stock units.
• These units were obtained through the Veris Residential, Inc. Deferred Compensation Plan for Directors.
• The acquisition price was $0.
• Following the transaction, Katz directly owns 14,542.397 shares of Veris Residential common stock.
• The phantom stock units convert to common stock on a one-for-one basis and will be settled in common stock upon termination of service or a change in control.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard regulatory filing reporting a routine transaction.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The Deferred Compensation Plan allows directors to accumulate company stock, potentially increasing their stake over time.

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 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 director compensation and ownership.

Key Dates