Form 4: Verizon CEO Hans Vestberg Reports Phantom Stock Acquisition
SEC Form 4 Filing
Verizon CEO Hans Vestberg reports the acquisition of phantom stock units through a deferred compensation plan.
Summary
- On September 12, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., reported the acquisition of 213.053 units of phantom stock.
- These phantom stock units were acquired through a deferred compensation plan.
- Each unit is economically equivalent to a portion of one share of Verizon's common stock and will be settled in cash upon certain events established by Vestberg.
- Following the transaction, Vestberg beneficially owns 163,054.478 units of phantom stock, including those acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing regarding executive compensation, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and is common for publicly traded companies. It provides transparency into the holdings of key executives.
Stakeholder Impact
- The acquisition of phantom stock by the CEO aligns his 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
| Date | Description |
|---|---|
| 09/12/2024 | Date of phantom stock acquisition |
| 09/16/2024 | Date of report 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.