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

Director Nori Gerardo Lietz reports acquisition of phantom stock units and disposal of common stock in Veris Residential, Inc.

Summary

• On April 3, 2024, Nori Gerardo Lietz, a director of Veris Residential, Inc., reported changes in beneficial ownership.
• Lietz acquired 1,775.651 phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors.
• These units represent accrued quarterly director's fees and dividends 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.
• Lietz also disposed of 26,226.733 shares of common stock at a price of $14.5.
• Following these transactions, Lietz directly owns 26,226.733 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The phantom stock units will be settled 100% 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 of changes in beneficial ownership by a company director, which is standard practice in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding insider activity.
• The director's stock disposal may have a minor impact on the stock price.

Key Dates