Form 4: Verizon Communications Inc: SVP and Controller Stillwell Reports Phantom Stock Transaction

Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc, reports acquisition of phantom stock units through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., filed a Form 4 with the SEC.
• The filing reports a transaction involving phantom stock units acquired on April 11, 2024.
• Stillwell acquired 41.256 phantom stock units at a price of $11.47 each.
• These phantom stock units are the economic equivalent of Verizon common stock and are settled in cash upon events established by Stillwell in accordance with the deferred compensation plan.
• Following the reported transaction, Stillwell beneficially owns 7,214.577 derivative securities through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, providing transparency to the market.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates