Form 4: Verizon CEO Hans Vestberg Reports Phantom Stock Acquisition

Verizon CEO Hans Vestberg reports the acquisition of phantom stock units through a deferred compensation plan.

Summary

• On February 29, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., acquired 233.263 units of phantom stock.
• These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon events established by Vestberg in accordance with the deferred compensation plan.
• The price of the phantom stock was $11.43 per unit.
• Following the transaction, Vestberg indirectly owns 154,653.246 units of phantom stock through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document is a routine SEC filing related to executive compensation, indicating standard corporate governance practices. The acquisition of phantom stock is generally viewed neutrally to positively as it aligns executive interests with shareholder value.

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, a common practice among publicly traded companies to align executive interests with shareholder value.

Stakeholder Impact

• The acquisition of phantom stock aligns the CEO's interests with those of the shareholders, as the value of the phantom stock is tied to the performance of Verizon's common stock.

Key Dates