Form 4: Verizon Communications Inc. Executive Stillwell Reports Phantom Stock Transaction
SEC Form 4 Filing
Mary-Lee Stillwell, SVP and Controller at Verizon Communications Inc., reports acquisition of phantom stock units through a deferred compensation plan.
Summary
- On August 1, 2024, Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., acquired phantom stock units.
- The transaction involved the acquisition of 40.58 phantom stock units at a price of $11.66 each.
- These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon certain events as per the deferred compensation plan.
- Following the reported transaction, Stillwell beneficially owns 7,785.781 phantom stock units, including those acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 08/01/2024 | Date of phantom stock transaction |
| 08/05/2024 | Date of report signature |
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