Form 4: Verizon Executive Acquires Phantom Stock

Verizon's SVP and Controller, Mary-Lee Stillwell, acquired 46.479 units of phantom stock through a deferred compensation plan, increasing her indirect beneficial ownership to 12,375.879 units.

Summary

• Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc. (VZ), acquired 46.479 units of phantom stock on August 14, 2025.
• The phantom stock was acquired at a price of $12.41 per unit.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock, with the 46.479 acquired units corresponding to 13 shares of common stock.
• These units are held indirectly through a deferred compensation plan and are settled in cash upon events established by the reporting person.
• Total indirect beneficial ownership of phantom stock increased to 12,375.879 units, which includes units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a key executive, particularly through a deferred compensation plan, is generally a positive signal as it aligns management's interests with long-term company performance. It's a routine compensation event rather than a direct investment, but still indicates continued commitment.

Positives

• Acquisition of 46.479 phantom stock units by a key executive, indicating continued participation in the company's long-term incentive plans.
• The increase in indirect beneficial ownership to 12,375.879 units suggests alignment of executive interests with shareholder value.

Future Outlook

The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan, implying future cash settlement.

Management Comments

• Mary-Lee Stillwell, SVP and Controller, acquired phantom stock units as part of her deferred compensation plan.

Industry Context

This is a routine insider transaction, common across all industries as part of executive compensation and deferred compensation plans. It reflects standard practices for aligning executive incentives with company performance.

Comparison to Industry Standards

• The use of phantom stock as a component of executive compensation is a common practice among large publicly traded companies, including those in the telecommunications sector, to provide long-term incentives without immediate equity dilution.
• Deferred compensation plans, through which these units are held, are standard mechanisms for executives to defer income and manage tax liabilities, aligning with typical corporate governance structures.

Related Party Transactions

• Acquisition of phantom stock units by a senior executive (Mary-Lee Stillwell) from the issuer (Verizon Communications Inc.) as part of the company's deferred compensation plan.

Stakeholder Impact

• Shareholders: Aligns executive interests with shareholder value through long-term incentives tied to company performance.
• Employees: Reflects standard executive compensation practices within the company.

Next Steps

• Phantom stock units will become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of phantom stock by a senior executive as part of a deferred compensation plan. While it indicates continued alignment of management interests with the company's long-term performance, it does not provide new fundamental information about the company's operations, financial health, or strategic direction that would warrant a change in investment recommendation. It's a standard compensation event.

Keywords

Verizon, VZ, SEC Form 4, insider transaction, phantom stock, deferred compensation, executive compensation, beneficial ownership