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

Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon, acquired 41.478 units of phantom stock through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., acquired 41.478 units of phantom stock on December 19, 2024.
• The phantom stock units were acquired through a deferred compensation plan.
• Each phantom stock unit 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 8,310.288 units.
• The price of the phantom stock was $11.41 per unit.

Sentiment

Score: 7

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

Positives

• The acquisition of phantom stock units by a senior executive demonstrates confidence in the company's future performance.
• The deferred compensation plan aligns the executive's interests with those of the shareholders.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies. It reflects the company's compensation strategy and is not indicative of any specific industry trend.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar instruments to align management's interests with shareholder value.
• Many large telecommunications companies use deferred compensation plans as part of their executive compensation strategy.
• The use of phantom stock is a common practice among S&P 500 companies, including Verizon's peers such as AT&T and T-Mobile.

Stakeholder Impact

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

Key Dates

Keywords

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