Form 4: Veris Residential Director MacFarlane Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Director Victor B. MacFarlane reports acquisition of phantom stock units in Veris Residential, Inc. through a deferred compensation plan.
Summary
- Victor B. MacFarlane, a director of Veris Residential, Inc., reported the acquisition of 1,465.124 phantom stock units on March 31, 2025.
- 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 board service or a change in control.
- The acquisition price is $16.92 per unit.
- Following the transaction, MacFarlane directly owns 20,909.514 shares of Veris Residential, Inc. common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The acquisition of phantom stock units by a director suggests confidence in the company's future, but it's a routine transaction.
Positives
- The acquisition of phantom stock units by a director signals confidence in the company's future performance.
- The deferred compensation plan aligns the director's interests with those of the 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
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a director's participation in a deferred compensation plan, which is a common practice.
Stakeholder Impact
- The acquisition of phantom stock units by a director aligns their interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term performance.
Key Dates
| Date | Description |
|---|---|
| 03/31/2025 | Date of the transaction (acquisition of phantom stock units). |
| 04/02/2025 | Date of the report filing. |
Keywords
Veris Residential, MacFarlane, phantom stock units, director, deferred compensation, Form 4, beneficial ownership
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