Form 4: Verizon CFO Anthony T. Skiadas Reports Acquisition of Phantom Stock

Verizon's EVP and CFO, Anthony T. Skiadas, reported acquiring phantom stock units equivalent to 128.414 shares of common stock on August 29, 2024, according to a Form 4 filing with the SEC.

Summary

• On August 29, 2024, Anthony T. Skiadas, EVP and CFO of Verizon Communications Inc., acquired phantom stock units.
• The acquisition was made under a deferred compensation plan.
• The acquired phantom stock is equivalent to 128.414 shares of Verizon's common stock.
• The price of the phantom stock was $11.77 per unit.
• Following the transaction, Skiadas beneficially owns 109,266.827 shares of common stock indirectly through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of an executive's stock transaction. The acquisition of phantom stock could be seen as a positive sign of confidence, but it's not a major event.

Positives

• The acquisition of phantom stock by a high-ranking executive could be interpreted as a sign of confidence in the company's future performance.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates changes in the beneficial ownership of Verizon's securities by its CFO.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar equity-based awards to align management's interests with those of shareholders.
• Companies like AT&T and T-Mobile also utilize similar compensation strategies for their executives.
• The amount of phantom stock awarded is generally determined by company performance and individual contributions, and is comparable to industry standards for executive compensation.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding executive compensation and ownership.

Key Dates