Form 4: Verizon Executive Acquires Phantom Stock Units Through Deferred Compensation Plan
SEC Form 4 Filing
Joseph J. Russo, an EVP at Verizon, acquired 81.942 phantom stock units through a deferred compensation plan on January 30, 2025.
Summary
- Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., acquired 81.942 units of phantom stock on January 30, 2025.
- The 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 phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
- The transaction was reported on February 3, 2025.
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 may indicate confidence in the company's future performance.
Positives
- The acquisition of phantom stock units by an executive may indicate 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 is a routine filing related to executive compensation and is common practice for publicly traded companies.
Comparison to Industry Standards
- Many large publicly traded companies use deferred compensation plans and phantom stock as part of their executive compensation packages.
- These plans are designed to align executive interests with shareholder value and provide long-term incentives.
- The use of phantom stock is a common practice, similar to companies like AT&T and T-Mobile, which also use various forms of equity-based compensation.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns executive interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 01/30/2025 | Date of the phantom stock acquisition. |
| 02/03/2025 | Date the transaction was reported. |
Keywords
phantom stock, deferred compensation, executive compensation, insider trading, Verizon, VZ, equity securities
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