Form 4: Vandana Venkatesh Reports Acquisition of Phantom Stock in Verizon Communications

Vandana Venkatesh, EVP-PubPol&ChiefLegalOfficer of Verizon Communications, reports the acquisition of phantom stock units through a deferred compensation plan.

Summary

• Vandana Venkatesh, an executive officer at Verizon Communications Inc., filed a Form 4 on August 19, 2024, reporting a transaction involving derivative securities.
• On August 15, 2024, Venkatesh acquired 71.685 units of phantom stock at a price of $11.43 per unit.
• These phantom stock units are the economic equivalent of Verizon common stock and are settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.
• Following the reported transaction, Venkatesh beneficially owns 35,981.476 derivative securities indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing an executive's compensation. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

This filing is a routine disclosure of executive compensation in the form of phantom stock, which is a common practice among publicly traded companies to align executive interests with shareholder value.

Comparison to Industry Standards

• Phantom stock grants are a common form of executive compensation in large corporations like Verizon, similar to practices at AT&T and Comcast.
• The vesting and payout terms of these grants are typically aligned with performance metrics and long-term company goals, consistent with industry standards for executive compensation.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors as it relates to executive compensation.

Key Dates