Form 4: Verizon Communications Inc. Executive Stillwell Reports Phantom Stock Acquisition

Mary-Lee Stillwell, SVP and Controller at Verizon Communications Inc., reported the acquisition of phantom stock units equivalent to 12 shares of common stock through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., filed a Form 4 on May 28, 2024, reporting a transaction that occurred on May 23, 2024.
• The transaction involved the acquisition of phantom stock units, which are economically equivalent to a portion of one share of common stock and are settled in cash.
• Stillwell acquired 12 units of phantom stock at a price of $11.25 per unit.
• Following the reported transaction, Stillwell beneficially owns 7,461.326 units of phantom stock through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It simply reports a transaction by a company insider.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding the compensation and holdings of a key executive.

Key Dates