Form 4: Verizon CEO Hans Vestberg Reports Phantom Stock Acquisition

Verizon CEO Hans Erik Vestberg reports acquisition of phantom stock units and updates beneficial ownership.

Summary

• Hans Erik Vestberg, Verizon's Chairman and CEO, filed a Form 4 with the SEC.
• The filing reports a transaction involving phantom stock units.
• On February 13, 2025, Vestberg acquired 226.592 phantom stock units at a price of $11.71 each.
• Following the reported transaction, Vestberg beneficially owns 171,021.126 derivative securities through a deferred compensation plan.
• The phantom stock is the economic equivalent of Verizon common stock and is settled in cash.
• The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• The filing also includes a Power of Attorney, authorizing William L. Horton, Jr., Dana C. Kahney, Evgeniya Berezkina and Meryl Friedman to execute and file reports on Vestberg's behalf regarding transactions in Verizon's equity securities.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The acquisition of phantom stock is generally viewed neutrally as it's part of executive compensation.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, ensuring transparency and compliance with SEC regulations.

Key Dates