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 March 31, 2025, A. Akiva Katz, a director of Veris Residential, Inc., acquired 1,651.376 phantom stock units.
• These units were accrued under the Veris Residential, Inc. Deferred Compensation Plan for Directors.
• The phantom stock units convert to common stock on a one-for-one basis.
• The acquisition includes a quarterly director's fee and a quarterly dividend credited on cumulative phantom stock units.
• The units will be settled in Veris Residential, Inc. common stock upon termination of service on the Board or a change in control of the company.
• Following the transaction, Katz directly owns 21,241.108 shares of Veris Residential common stock.

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 shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The deferred compensation plan provides a mechanism for directors to accumulate equity in 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 of Veris Residential, Inc. or upon a change in control of Veris Residential, Inc.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Related Party Transactions

• The acquisition of phantom stock units through the Veris Residential, Inc. Deferred Compensation Plan for Directors constitutes a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates

Keywords

Veris Residential, Director, Phantom Stock Units, Deferred Compensation Plan, Form 4, Beneficial Ownership, A. Akiva Katz