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

Mary-Lee Stillwell, SVP and Controller at Verizon, acquired 38.983 phantom stock units through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., acquired 38.983 phantom stock units on December 5, 2024.
• These 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 units become 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 8,268.81 units.

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 units is a positive sign of alignment with company performance.

Positives

• The acquisition of phantom stock units indicates continued alignment of the executive's interests with the company's performance.
• The deferred compensation plan allows for long-term incentives for the executive.

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

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

• Many large publicly traded companies use phantom stock or similar instruments as part of their executive compensation packages.
• Deferred compensation plans are a common way to align executive interests with long-term company performance.
• The use of phantom stock settled in cash is a standard practice to avoid dilution of existing shares.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders as it involves phantom stock units, not actual shares.
• The use of deferred compensation plans can align executive interests with long-term company performance, which can be beneficial for shareholders.

Key Dates

Keywords

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