Form 4: Laxman Narasimhan Reports Acquisition of Verizon Phantom Stock

Director Laxman Narasimhan reports acquiring phantom stock in Verizon Communications Inc. through a deferred compensation plan.

Summary

• Laxman Narasimhan, a director of Verizon Communications Inc., filed a Form 4 on March 5, 2024, reporting a transaction that occurred on March 1, 2024.
• The transaction involved the acquisition of 5,224 shares of phantom stock.
• These shares were acquired through a deferred compensation plan.
• Following the reported transaction, Narasimhan beneficially owns 20,200 shares of phantom stock indirectly through the 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.
• The reported holdings include phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

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

Future Outlook

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

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the compensation and holdings of a company director.

Key Dates