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

Craig L. Silliman, EVP & President of Verizon Global Services, reports acquiring phantom stock units equivalent to 111.755 shares of common stock on March 28, 2024.

Summary

• Craig L. Silliman, an executive at Verizon Communications Inc., filed a Form 4 on April 1, 2024, reporting changes in beneficial ownership.
• The reported transaction involves the acquisition of phantom stock units, each equivalent to a portion of one share of Verizon's common stock, settled in cash.
• On March 28, 2024, Silliman acquired 111.755 units of phantom stock at a price of $11.98 per unit.
• Following the transaction, Silliman's indirectly held phantom stock through a deferred compensation plan totals 337,634.879 units.
• The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting executive compensation. It doesn't inherently indicate positive or negative sentiment, but rather a standard business practice.

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 a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates an executive's continued investment in the company's future through deferred compensation.

Stakeholder Impact

• The acquisition of phantom stock by an executive aligns their interests with those of the shareholders, as the value of the phantom stock is tied to the performance of the company's common stock.

Key Dates