Form 4: Verizon Executive Craig L. Silliman Reports Acquisition of Phantom Stock

Craig L. Silliman, an EVP at Verizon, reported the acquisition of phantom stock units equivalent to 113.507 shares of common stock at $11.79 per unit on June 6, 2024.

Summary

• On June 6, 2024, Craig L. Silliman, an Executive Vice President at Verizon Communications Inc., reported acquiring phantom stock units.
• The transaction involved the acquisition of 113.507 units of phantom stock at a price of $11.79 per unit.
• These phantom stock units are the economic equivalent of a portion of one share of Verizon's common stock and will be settled in cash upon certain events as per the deferred compensation plan.
• Following the reported transaction, Silliman's indirectly held beneficial ownership includes 212,246.547 units of phantom stock through a deferred compensation plan, inclusive of phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Future Outlook

The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, providing transparency to the market.

Key Dates