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

Samantha Hammock, EVP & Chief HR Officer of Verizon Communications Inc., acquired phantom stock units equivalent to 82.305 shares of common stock through a deferred compensation plan on May 9, 2024.

Summary

• On May 9, 2024, Samantha Hammock, the EVP & Chief HR Officer of Verizon Communications Inc., acquired phantom stock units.
• The acquisition was made through a deferred compensation plan.
• A total of 82.305 phantom stock units were acquired at a price of $11.36 per unit.
• Each phantom stock unit is the economic equivalent of one share of Verizon's common stock and is settled in cash.
• Following the transaction, Hammock beneficially owns 17,974.636 derivative securities, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 7

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

Positives

• The acquisition of phantom stock units through a deferred compensation plan aligns the executive's interests with the company's performance.
• Dividend reinvestment further increases the executive's stake in the company.

Future Outlook

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

Industry Context

Executive compensation packages often include phantom stock or similar instruments to align executive incentives with shareholder value. This Form 4 filing is a routine disclosure of such transactions.

Comparison to Industry Standards

• Phantom stock grants are a common component of executive compensation packages in large publicly traded companies like Verizon.
• Companies such as AT&T and Comcast also utilize similar deferred compensation plans for their executives.
• The specific terms and conditions of these plans vary, but the underlying principle of aligning executive incentives with company performance remains consistent.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive compensation with company performance.
• Employees may view the executive's participation in the deferred compensation plan positively.

Key Dates