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

Vandana Venkatesh, EVP-PubPol&ChiefLegalOfficer at Verizon, acquired 70.396 units of phantom stock through a deferred compensation plan.

Summary

• Vandana Venkatesh, an executive at Verizon Communications Inc., acquired 70.396 units of phantom stock on January 2, 2025.
• These phantom stock units are economically equivalent to a portion of one share of common stock and will be settled in cash.
• The acquisition was made through a deferred compensation plan, with the payout occurring upon events established by the reporting person.
• The price of the phantom stock was $11.47 per unit.
• Venkatesh also holds 37,253.695 units of phantom stock indirectly through the deferred compensation plan, including units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally neutral to positive for the company's outlook. It indicates alignment of executive interests with the company's performance.

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 is a common practice in large corporations to incentivize performance and align executive interests with shareholder value.

Comparison to Industry Standards

• Phantom stock grants are a common form of executive compensation, particularly in large publicly traded companies like Verizon.
• Companies such as AT&T and T-Mobile also use similar compensation methods to incentivize their executives.
• The use of deferred compensation plans is also a standard practice for executives to manage their tax liabilities and retirement planning.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, Verizon, Vandana Venkatesh, SEC Form 4, equity securities