Form 4: Verizon Executive Anthony T. Skiadas Reports Acquisition of Phantom Stock

Verizon's EVP and CFO, Anthony T. Skiadas, reports acquiring phantom stock units equivalent to 134.321 shares of common stock through a deferred compensation plan.

Summary

• Anthony T. Skiadas, EVP and CFO of Verizon Communications Inc., filed a Form 4 on May 28, 2024, reporting a transaction on May 23, 2024.
• The transaction involved the acquisition of 134.321 units of phantom stock, each equivalent to a share of Verizon's common stock.
• These phantom stock units were acquired through a deferred compensation plan.
• Skiadas indirectly owns 106,628.571 shares of phantom stock through the deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
• The phantom stock is settled in cash and becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't inherently convey positive or negative sentiment.

Positives

• The acquisition of phantom stock through a deferred compensation plan aligns the executive's interests with the company's performance.

Future Outlook

The phantom stock becomes 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 provides transparency into the compensation structure of a key executive at Verizon.

Comparison to Industry Standards

• Phantom stock plans are a common component of executive compensation packages in large publicly traded companies like Verizon.
• Companies such as AT&T and Comcast, which are direct competitors of Verizon, also utilize similar compensation strategies to incentivize their executives.
• The amount of phantom stock granted and the terms of the deferred compensation plan are generally aligned with industry benchmarks for executive compensation at companies of similar size and market capitalization.

Stakeholder Impact

• Shareholders may be interested in the details of executive compensation as it relates to company performance.
• Employees may be interested in the structure of executive compensation packages.

Key Dates