Form 4: Verizon CEO Hans Vestberg Reports Phantom Stock Acquisition
SEC Form 4 Filing
Verizon CEO Hans Vestberg reports acquisition of phantom stock units and holdings through a deferred compensation plan.
Summary
- On March 28, 2024, Hans Erik Vestberg, the Chairman and CEO of Verizon Communications Inc., reported a transaction involving phantom stock.
- Vestberg acquired 222.547 units of phantom stock at a price of $11.98 each.
- Following the transaction, Vestberg's holdings include 155,110.513 shares of phantom stock held indirectly through a deferred compensation plan.
- The phantom stock is the economic equivalent of Verizon common stock and is settled in cash upon events established by Vestberg in accordance with the deferred compensation plan.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices, and does not inherently indicate 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 changes in the CEO's holdings of phantom stock, which is a common form of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Date of phantom stock transaction |
| 04/01/2024 | Date of Form 4 filing |
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