Form 4: Veris Residential Director MacFarlane Acquires Phantom Stock Units

Director Victor B. MacFarlane acquired phantom stock units convertible to common stock in Veris Residential, Inc. through a deferred compensation plan.

Summary

• On April 3, 2024, Victor B. MacFarlane, a director of Veris Residential, Inc., acquired 1,648.888 phantom stock units.
• These units were awarded as part of the Veris Residential, Inc. Deferred Compensation Plan for Directors, covering a quarterly director's fee and dividend credit.
• 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 board service or a change in control.
• Following the transaction, MacFarlane beneficially owns 14,985.01 shares of Veris Residential, Inc. common stock.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a director is generally a positive sign, indicating confidence in the company's future. The transaction itself is routine and expected.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• The Deferred Compensation Plan for Directors aligns the interests of directors with those of shareholders.

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

Deferred compensation plans are a common way for companies to compensate directors, aligning their interests with the long-term success of the company. This filing indicates a standard practice in executive compensation.

Related Party Transactions

• The phantom stock units were accrued under the Veris Residential, Inc. Deferred Compensation Plan for Directors.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder sentiment.
• The Deferred Compensation Plan for Directors aligns the interests of directors with those of shareholders.

Key Dates