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 April 11, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., reported the acquisition of 232.441 units of phantom stock.
- These units were acquired through a deferred compensation plan.
- Each phantom stock unit is economically equivalent to a portion of one share of Verizon's common stock and is settled in cash.
- The price of the phantom stock was $11.47.
- Following the transaction, Vestberg beneficially owns 155,342.954 units of phantom stock, including those acquired through dividend reinvestment.
- The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing regarding stock ownership, 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.
Key Dates
| Date | Description |
|---|---|
| 04/11/2024 | Date of phantom stock acquisition |
| 04/15/2024 | Date of Form 4 filing |
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