Form 4: Veris Residential Director Nori Gerardo Lietz Reports Changes in Beneficial Ownership

Director Nori Gerardo Lietz reports acquisition of phantom stock units and updates to beneficial ownership of Veris Residential, Inc. common stock.

Summary

• On December 31, 2024, Nori Gerardo Lietz, a director of Veris Residential, Inc., reported changes in beneficial ownership.
• Lietz acquired 1,615.399 phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors.
• These units are comprised of 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 reported transaction, Lietz directly owns 31,060.604 shares of Veris Residential, Inc. common stock.
• The price of the derivative security is $16.62.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and insider trading reporting, suggesting a neutral to slightly positive sentiment due to alignment of interests.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The Deferred Compensation Plan for Directors provides a mechanism for accumulating company stock.

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

This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include stock-based awards to align director interests with shareholder value.
• Deferred compensation plans are a common tool for directors to defer income and accumulate company stock.
• The specifics of the Veris Residential plan would need to be compared to similar REITs to assess its competitiveness.

Stakeholder Impact

• Shareholders may view the director's increased stake in the company positively, as it aligns interests.
• The Deferred Compensation Plan impacts the director's long-term compensation and investment in the company.

Key Dates