Form 4: Verizon CEO Hans Vestberg Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Verizon CEO Hans Vestberg reports acquiring phantom stock units and holding them indirectly through a deferred compensation plan.
Summary
- On October 10, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., reported a transaction involving phantom stock.
- Vestberg acquired 217.546 units of phantom stock at a price of $12.25 each.
- These phantom stock units are held indirectly through a deferred compensation plan.
- Following the reported transaction, Vestberg beneficially owns 163,481.476 units of phantom stock through the deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
- Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.
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 corporate insiders to report transactions in their company's securities. This filing indicates changes in beneficial ownership for Verizon's CEO.
Key Dates
| Date | Description |
|---|---|
| 10/10/2024 | Date of phantom stock transaction |
| 10/15/2024 | Date of report filing |
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