Form 4: Verizon Executive Acquires Phantom Stock Units Through Deferred Compensation Plan

Samantha Hammock, EVP & Chief HR Officer at Verizon, acquired 77.014 phantom stock units through a deferred compensation plan on December 5, 2024.

Summary

• Samantha Hammock, an executive at Verizon, acquired 77.014 phantom stock units on December 5, 2024.
• These phantom stock units were acquired through a deferred compensation plan.
• Each phantom stock unit is equivalent to a portion of one share of common stock and will be settled in cash.
• The payout of these units will occur based on events established by the reporting person within the deferred compensation plan.
• The transaction also includes phantom stock acquired through dividend reinvestment, bringing the total to 19,761.576 units.
• The price of the phantom stock was $12.14 per unit.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral to positive. The acquisition of phantom stock units can be seen as a sign of confidence in the company's future.

Positives

• The acquisition of phantom stock units by an executive can be seen as a positive sign of confidence in the company's future performance.

Future Outlook

The phantom stock units will be settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

This type of transaction is common for executive compensation packages in publicly traded companies, aligning executive interests with shareholder value.

Comparison to Industry Standards

• Many large publicly traded companies, such as AT&T (T) and T-Mobile (TMUS), use similar deferred compensation plans and phantom stock units as part of their executive compensation packages.
• These plans are designed to incentivize long-term performance and align executive interests with shareholder value, which is a common practice across the telecommunications industry and other sectors.
• The specific terms and conditions of these plans can vary, but the general structure of deferred compensation and phantom stock is widely used.

Stakeholder Impact

• The acquisition of phantom stock units by an executive can be seen as a positive sign for shareholders, indicating alignment of interests.
• The transaction has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, insider trading, Verizon, VZ, stock units