Form 4: Clarence Otis Jr. Reports Acquisition of Verizon Phantom Stock

Director Clarence Otis Jr. reports acquiring phantom stock in Verizon Communications Inc. through a deferred compensation plan.

Summary

• Clarence Otis Jr., a director of Verizon Communications Inc., filed a Form 4 with the SEC.
• The filing reports the acquisition of 4,748 shares of phantom stock on March 18, 2025.
• The phantom stock was acquired through a deferred compensation plan.
• Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash upon termination of service as a director.
• Following the transaction, Otis beneficially owns 138,248 shares of phantom stock indirectly through the deferred compensation plan.
• The filing also includes a power of attorney authorizing William L. Horton, Jr., Dana C. Kahney, Evgeniya Berezkina and Meryl Friedman to file reports on Otis's behalf regarding transactions in Verizon equity securities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's securities, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it involves phantom stock acquired through a deferred compensation plan.

Key Dates

Keywords

Form 4, Verizon Communications Inc., Clarence Otis Jr., phantom stock, deferred compensation, director, beneficial ownership, SEC, power of attorney