Form 4: Verizon Executive Kyle Malady Reports Acquisition of Phantom Stock
SEC Form 4 Filing
EVP and Group CEO of Verizon Business, Kyle Malady, reports acquiring phantom stock units through a deferred compensation plan.
Summary
- On June 6, 2024, Kyle Malady, EVP and Group CEO-VZ Business at Verizon Communications Inc., reported acquiring 147.755 units of phantom stock.
- These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon certain events as per the deferred compensation plan.
- Following the transaction, Malady indirectly owns 346,448.137 units of phantom stock through a deferred compensation plan, including shares acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to executive compensation, with neutral sentiment.
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 related to executive compensation and is typical for publicly traded companies like Verizon. It provides transparency into the equity-based compensation of key executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 06/06/2024 | Date of transaction: Kyle Malady acquired phantom stock units. |
| 06/10/2024 | Date of signature on the Form 4 filing. |
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