Form 4: Verizon CEO Hans Vestberg Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Verizon's CEO, Hans Vestberg, reports acquiring additional phantom stock units through a deferred compensation plan.
Summary
- On August 15, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., acquired 233.229 units of phantom stock through a deferred compensation plan.
- The price of each phantom stock unit was $11.43.
- Following the transaction, Vestberg indirectly owns 162,614.985 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 neutral regulatory filing, reporting an insider transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving compensation in the form of equity or equity-like instruments. It provides transparency into the holdings of company leadership.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of transaction: Hans Vestberg acquired phantom stock units. |
| 08/19/2024 | Date of report: Form 4 filing date. |
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