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

Craig L. Silliman, EVP & President of Verizon Global Services, reported changes in beneficial ownership of Verizon Communications Inc. securities on March 14, 2024, including the acquisition of phantom stock units.

Summary

• On March 14, 2024, Craig L. Silliman, an Executive Vice President and President of Verizon Global Services, reported changes in his beneficial ownership of Verizon Communications Inc. securities.
• The reported transaction involved the acquisition of 117.868 units of phantom stock at a price of $11.36 per unit.
• Following the transaction, Silliman's total beneficial ownership includes 337,523.124 shares of common stock held indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a standard 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

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities. It is a standard practice for executives to hold and trade company stock, often through compensation plans.

Key Dates