Form 4: Verizon CEO Hans Vestberg Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Verizon's Chairman and CEO, Hans Erik Vestberg, reported the acquisition of phantom stock units equivalent to 227.172 shares of common stock through a deferred compensation plan on July 3, 2024.
Summary
- On July 3, 2024, Hans Erik Vestberg, Chairman and CEO of Verizon Communications Inc., acquired 227.172 units of phantom stock through a deferred compensation plan.
- Each unit of phantom stock is economically equivalent to a fraction of one share of Verizon's common stock and will be settled in cash upon certain events.
- The price of the phantom stock was $11.73 per unit.
- Following the transaction, Vestberg beneficially owns 159,350.089 shares of Verizon common stock, including phantom stock acquired through dividend reinvestment, held indirectly through a deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 07/03/2024 | Date of phantom stock transaction |
| 07/08/2024 | Date of Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.