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

EVP & President of Verizon Global Services, Craig L. Silliman, reports acquiring phantom stock units equivalent to common stock through a deferred compensation plan.

Summary

• Craig L. Silliman, EVP & President of Verizon Global Services, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the acquisition of 117.868 units of phantom stock on May 9, 2024, at a price of $11.36 per unit.
• These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.
• Following the reported transaction, Silliman beneficially owns 343,675.165 units of phantom stock, including those acquired through dividend reinvestment, held indirectly through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the holdings of company insiders.

Key Dates