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

Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon, acquired 42.173 units of phantom stock through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., acquired 42.173 units of phantom stock on January 16, 2025.
• The phantom stock was acquired through a deferred compensation plan.
• Each unit of phantom stock is economically equivalent to a portion of one share of common stock and will be settled in cash.
• The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.
• The transaction also includes phantom stock acquired through dividend reinvestment, bringing the total to 8,392.687 units.
• The price of the phantom stock was $10.94 per unit.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral to positive. The use of deferred compensation is a common practice and aligns executive interests with the company's performance.

Positives

• The acquisition of phantom stock through a deferred compensation plan aligns the executive's interests with the company's performance.
• The dividend reinvestment indicates a long-term commitment to the company.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies. It reflects the use of deferred compensation plans to incentivize executives.

Comparison to Industry Standards

• The use of phantom stock and deferred compensation plans is a common practice among large publicly traded companies like Verizon.
• Many companies in the telecommunications sector use similar compensation structures to align executive interests with shareholder value.
• Companies such as AT&T and T-Mobile also utilize similar compensation methods for their executives.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with the company's performance.

Key Dates

Keywords

phantom stock, deferred compensation, insider trading, executive compensation, Verizon, VZ, SEC Form 4