Form 4: Verizon Executive Kyle Malady Acquires Phantom Stock Units
SEC Form 4 Filing
Verizon's EVP and Group CEO, Kyle Malady, acquired phantom stock units equivalent to 44 shares of common stock through a deferred compensation plan.
Summary
- Kyle Malady, an Executive Vice President and Group CEO at Verizon, acquired phantom stock units on January 30, 2025.
- The phantom stock units are economically equivalent to a portion of one share of common stock and will be settled in cash.
- The transaction involved the acquisition of 44 phantom stock units at a price of $11.27 per unit.
- Following the transaction, Mr. Malady beneficially owns 360,329.578 phantom stock units.
- The phantom stock was acquired through a deferred compensation plan and includes units acquired through dividend reinvestment.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral to positive. The acquisition of phantom stock can be seen as a positive sign of executive confidence.
Positives
- The acquisition of phantom stock units by a high-ranking executive may indicate confidence in the company's future performance.
Industry Context
This type of transaction is common for executive compensation packages in publicly traded companies, often used to align executive interests with shareholder value.
Comparison to Industry Standards
- Phantom stock grants are a common form of executive compensation, similar to stock options or restricted stock units, used by many large public companies such as AT&T, T-Mobile, and other telecommunications firms.
- The specific terms of the deferred compensation plan and the vesting schedule would need to be compared to industry benchmarks to assess the competitiveness of the compensation package.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.
Key Dates
| Date | Description |
|---|---|
| 01/30/2025 | Date of the phantom stock unit acquisition. |
| 02/03/2025 | Date the form was signed by William L. Horton, Jr., Attorney-in-fact for Kyle Malady. |
Keywords
phantom stock, deferred compensation, executive compensation, insider trading, Verizon, VZ, stock units
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