Form 4: Verizon Director Acquires Phantom Stock Through Deferred Compensation Plan
SEC Form 4 Filing
Mark T. Bertolini, a director at Verizon Communications Inc., acquired 5,224 shares of phantom stock through a deferred compensation plan on March 1, 2024.
Summary
- On March 1, 2024, Mark T. Bertolini, a director of Verizon Communications Inc., acquired 5,224 shares of phantom stock.
- The acquisition was made through a deferred compensation plan.
- Each share of phantom stock is equivalent to one share of common stock and will be settled in cash upon termination of service as a director.
- Following the transaction, Bertolini beneficially owns 49,737 shares of phantom stock, including shares acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't inherently indicate positive or negative sentiment.
Future Outlook
The phantom stock becomes payable following the reporting person's termination of service as a director.
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 the director's holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Acquisition of phantom stock. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.