Form 4: Verizon Director Colao Acquires Phantom Stock Through Deferred Compensation Plan

Verizon Communications Inc. director Vittorio Colao acquired 5,224 shares of phantom stock through a deferred compensation plan on March 1, 2024.

Summary

• On March 1, 2024, Vittorio Colao, 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, Colao beneficially owns 11,959 shares of phantom stock, including those acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard compensation practice. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Future Outlook

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

Industry Context

Directors often receive stock-based compensation as part of their overall remuneration package, aligning their interests with those of shareholders. Phantom stock is a common form of deferred compensation.

Stakeholder Impact

• The acquisition of phantom stock aligns the director's interests with those of the shareholders.

Key Dates