Form 4: Verizon Director Bertolini Reports Phantom Stock Acquisition
SEC Form 4 Filing
Mark T. Bertolini, a director at Verizon Communications Inc., reported the acquisition of phantom stock units equivalent to 4,748 shares of common stock.
Summary
- On March 18, 2025, Mark T. Bertolini, a director of Verizon Communications Inc., reported acquiring 4,748 units of phantom stock.
- These phantom stock units are economically equivalent to shares of Verizon common stock and will be settled in cash upon termination of service as a director.
- Following the transaction, Bertolini beneficially owns 57,880 derivative securities, including phantom stock acquired through dividend reinvestment.
- Bertolini has granted power of attorney to William L. Horton, Jr., Dana C. Kahney, Evgeniya Berezkina, and Meryl Friedman to file reports regarding transactions in Verizon's equity securities.
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.
Key Dates
| Date | Description |
|---|---|
| February 5, 2025 | Date of Power of Attorney document. |
| March 18, 2025 | Date of transaction: Acquisition of phantom stock. |
| March 20, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Verizon, Bertolini, Phantom Stock, Director, Beneficial Ownership, Power of Attorney, Section 16
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