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 and holding them indirectly through a deferred compensation plan.
Summary
- Kyle Malady, an EVP and Group CEO at Verizon Communications Inc., filed a Form 4 indicating changes in beneficial ownership.
- The reported transaction occurred on February 29, 2024.
- Malady acquired 223.166 units of phantom stock at $11.43 each.
- These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon certain events.
- Following the transaction, Malady indirectly owns 339,660.372 shares of phantom stock through a deferred compensation plan, including shares acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings of company insiders. Phantom stock is a common form of deferred compensation.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Date of transaction: Acquisition of phantom stock. |
| 03/04/2024 | Date of signature on the Form 4 filing. |
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