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

Verizon's Executive Vice President and CFO, Anthony T. Skiadas, acquired phantom stock units through a deferred compensation plan.

Summary

• Anthony T. Skiadas, Executive Vice President and CFO of Verizon Communications Inc., acquired 124.707 units of phantom stock on November 21, 2024.
• These phantom stock units are economically equivalent to a portion of one share of common stock and will be settled in cash.
• The acquisition was made through a deferred compensation plan, and the units become payable upon events established by the reporting person.
• The price of the phantom stock was $12.12 per unit.
• Following the transaction, Mr. Skiadas beneficially owns 111,794.963 units of phantom stock through the deferred compensation plan, which includes units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to slightly positive as it aligns executive interests with company performance.

Positives

• The acquisition of phantom stock units by a key executive demonstrates confidence in the company's future performance.
• The deferred compensation plan aligns executive interests with long-term shareholder value.

Future Outlook

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

Industry Context

Executive compensation through phantom stock and deferred compensation plans is a common practice in large public companies like Verizon to align management interests with shareholder value.

Comparison to Industry Standards

• Many large public companies use phantom stock or similar instruments as part of their executive compensation packages.
• These plans are designed to incentivize long-term performance and align executive interests with those of shareholders.
• The specific terms and conditions of these plans can vary widely between companies, but the general concept is consistent across the industry.
• Companies like AT&T, T-Mobile, and other large telecommunications firms also use similar compensation strategies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, insider trading, Verizon, VZ, Anthony T. Skiadas