Form 4: Verizon CEO Hans Vestberg Reports Phantom Stock Acquisition
SEC Form 4 Filing
Verizon's Chairman and CEO, Hans Erik Vestberg, reported the acquisition of phantom stock units through a deferred compensation plan.
Summary
- Hans Erik Vestberg, Chairman and CEO of Verizon Communications Inc., filed a Form 4 to report changes in beneficial ownership.
- The report details the acquisition of 226.44 units of phantom stock on August 29, 2024, at a price of $11.77 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.
- Vestberg's total holdings include 162,841.425 units of phantom stock, including those acquired through dividend reinvestment, held indirectly through a deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't convey any particular positive or negative sentiment about the company's performance or prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates Vestberg's continued participation in Verizon's deferred compensation plan.
Key Dates
| Date | Description |
|---|---|
| 08/29/2024 | Date of phantom stock acquisition |
| 09/03/2024 | Date of Form 4 filing |
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