Form 4: Carol B. Tome Reports Changes in Beneficial Ownership of Verizon Communications Inc. Stock

Carol B. Tome, a director of Verizon Communications Inc., reported changes in her beneficial ownership of the company's stock due to the acquisition of phantom stock units.

Summary

• Carol B. Tome, a director at Verizon Communications Inc., filed a Form 4 on March 5, 2024, reporting changes in her beneficial ownership of Verizon stock.
• The earliest transaction date reported was March 1, 2024.
• Tome acquired 5,224 units of phantom stock, which are the economic equivalent of common stock and settled in cash upon termination of service as a director.
• The price of the derivative security was $0.
• Following the reported transaction, Tome beneficially owns 16,064 derivative securities.
• The phantom stock is held indirectly through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It reflects routine transactions related to director compensation.

Future Outlook

The phantom stock becomes payable following the reporting person's termination of service as a director.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a director's continued investment in the company's future through participation in a deferred compensation plan.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the transactions of a company director.
• The acquisition of phantom stock aligns the director's interests with those of the shareholders.

Key Dates