Form 4: Verizon CEO Hans Vestberg Reports Phantom Stock Acquisition
SEC Form 4 Filing
Verizon CEO Hans Vestberg reports acquisition of phantom stock units through a deferred compensation plan.
Summary
- On November 7, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., acquired 230.292 units of phantom stock at a price of $11.57 per unit.
- 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.
- Following the transaction, Vestberg beneficially owns 166,593.669 units of phantom stock through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CEO's continued participation in the company's deferred compensation plan.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it involves phantom stock and deferred compensation.
Key Dates
| Date | Description |
|---|---|
| 11/07/2024 | Date of phantom stock transaction |
| 11/12/2024 | Date of Form 4 filing |
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