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

Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon, acquired phantom stock units through the company's deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., acquired 39.031 units of phantom stock on November 21, 2024.
• These phantom stock units were acquired through Verizon's 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 payout of these phantom stock units will occur based on events established by Ms. Stillwell within the deferred compensation plan.
• The transaction also includes phantom stock acquired through dividend reinvestment, bringing the total to 8,229.827 units.
• The price of the phantom stock was $12.12 per unit.

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 common practice and does not indicate any significant positive or negative sentiment.

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.

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 units as part of their executive compensation packages.
• These plans are designed to align executive interests with shareholder value and provide tax-advantaged savings.
• The specific terms and conditions of these plans can vary between companies, but the general structure is similar.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates

Keywords

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