Form 4: Verizon Executive Craig L. Silliman Reports Changes in Beneficial Ownership

EVP & President of Verizon Global Services, Craig L. Silliman, reports changes in beneficial ownership of Verizon Communications Inc. securities, including phantom stock units.

Summary

• Craig L. Silliman, EVP & President of Verizon Global Services, filed a Form 4 to report changes in his beneficial ownership of Verizon Communications Inc. securities.
• The reported transactions involve phantom stock units and common stock.
• As of May 28, 2024, Silliman's holdings include 290,635.223 phantom stock units held indirectly through a deferred compensation plan.
• The phantom stock units are the economic equivalent of common stock shares and are settled in cash upon certain events.
• Silliman also has the right to transfer the value of these shares into an alternative investment under the deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting changes in beneficial ownership, with no inherent positive or negative sentiment.

Future Outlook

The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan. The reporting person had the right to transfer the value of these shares into an alternative investment under the deferred compensation plan.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their holdings and transactions in the company's securities.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar equity-based awards to align management's interests with those of shareholders.
• Deferred compensation plans are a common tool for executives to defer income and potentially reduce their current tax burden.
• The specific terms and conditions of these plans can vary widely across companies and industries.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a key executive.
• The transactions themselves are unlikely to have a significant impact on other stakeholders.

Key Dates