Form 4: Verizon Director Caroline Litchfield Reports Acquisition of Phantom Stock

Caroline Litchfield, a director at Verizon Communications Inc., reported the acquisition of 1,161 shares of phantom stock at a price of $45.21 per share on October 1, 2024.

Summary

• On October 1, 2024, Caroline Litchfield, a director of Verizon Communications Inc., acquired 1,161 shares of phantom stock.
• The price per share of the phantom stock was $45.21.
• These shares are held indirectly 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.
• A power of attorney was granted to William L. Horton, Jr., Brandon N. Egren, Evgeniya Berezkina and Veronica C. Glennon to file reports on behalf of Caroline Litchfield.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. The acquisition of phantom stock is part of a compensation plan, which is generally viewed positively as it aligns the director's interests with those of the shareholders.

Future Outlook

The phantom stock becomes payable following the reporting person's termination of service as a director.

Industry Context

This filing is a routine disclosure of a director's holdings and transactions in company stock, which is common practice for publicly traded companies like Verizon.

Stakeholder Impact

• The acquisition of phantom stock aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates