Form 4: Verizon Executive Kyle Malady Acquires Phantom Stock Units Through Deferred Compensation Plan

Verizon's EVP and Group CEO, Kyle Malady, acquired 143.747 phantom stock units through a deferred compensation plan, equivalent to common stock, settled in cash.

Summary

• Kyle Malady, an EVP and Group CEO at Verizon, acquired 143.747 phantom stock units on November 21, 2024.
• These phantom stock units are economically equivalent to a portion of one share of Verizon common stock.
• The phantom stock units will be settled in cash upon events established by Mr. Malady in accordance with the deferred compensation plan.
• The transaction also includes phantom stock acquired through dividend reinvestment.
• Following the transaction, Mr. Malady's total holdings include 359,570.613 phantom stock units held indirectly through a deferred compensation plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed neutrally to slightly positive as it aligns executive interests with company performance.

Positives

• The acquisition of phantom stock units by a high-ranking executive may indicate confidence in the company's future performance.
• The deferred compensation plan allows for long-term alignment of executive interests with shareholder value.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies. It does not indicate any specific trend or change in the telecommunications industry.

Comparison to Industry Standards

• Executive compensation packages often include stock options, restricted stock, or phantom stock units to align executive interests with shareholder value.
• Deferred compensation plans are a common tool used by large corporations to attract and retain top talent.
• The use of phantom stock is a common practice in the industry, with companies like AT&T and T-Mobile also using similar compensation methods.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, insider trading, Verizon, VZ, stock units