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

Samantha Hammock, EVP & Chief HR Officer at Verizon, acquired 80.453 units of phantom stock through a deferred compensation plan.

Summary

• Samantha Hammock, an Executive Vice President and Chief HR Officer at Verizon Communications Inc., acquired 80.453 units of phantom stock on January 2, 2025.
• 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 units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• The reporting person also holds 19,923.973 units of phantom stock through the deferred compensation plan, which includes units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed neutrally to positively by investors. It indicates alignment of interests between management and shareholders.

Positives

• The acquisition of phantom stock units aligns the executive's interests with the company's performance.
• The deferred compensation plan allows for tax-advantaged savings and investment.

Industry Context

Executive compensation through phantom stock and deferred compensation plans is a common practice in large corporations like Verizon to align management interests with shareholder value.

Comparison to Industry Standards

• Many large public companies use phantom stock and deferred compensation plans as part of their executive compensation packages.
• These plans are designed to incentivize long-term performance and align executive interests with shareholder value.
• The specific terms and conditions of these plans can vary widely between companies, but the general structure is similar.

Stakeholder Impact

• The acquisition of phantom stock units by an executive is generally viewed positively by shareholders as it aligns management's interests with the company's performance.

Key Dates

Keywords

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