Form 4: Verizon Executive Kyle Malady Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP and Group CEO of Verizon Business, Kyle Malady, reports acquisition of phantom stock units through a deferred compensation plan.
Summary
- On May 9, 2024, Kyle Malady, EVP and Group CEO-VZ Business at Verizon Communications Inc., reported changes in beneficial ownership.
- Malady acquired 153.432 units of phantom stock through a deferred compensation plan at a price of $11.36 per unit.
- Following the transaction, Malady beneficially owns 346,145.554 units of phantom stock indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
- Each share of phantom stock is the economic equivalent 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 neutral regulatory filing. It doesn't convey any specific positive or negative sentiment about the company's performance or prospects.
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 of changes in beneficial ownership by a company executive, which is common in publicly traded companies. It reflects part of the executive's compensation package.
Comparison to Industry Standards
- Executive compensation packages often include phantom stock or similar equity-based awards to align executive interests with shareholder value.
- Companies like AT&T (T) and T-Mobile (TMUS) also utilize similar compensation strategies for their executives.
- The specific amount and terms of phantom stock awards vary based on company size, performance, and industry benchmarks.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It provides transparency regarding executive compensation and alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 05/09/2024 | Date of transaction: Acquisition of phantom stock units. |
| 05/13/2024 | Date of signature by Attorney-in-fact for Kyle Malady. |
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