Form 4: Verizon Executive Kyle Malady Reports Phantom Stock Acquisition
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
- Kyle Malady, EVP and Group CEO of Verizon Business, filed a Form 4 on July 22, 2024, reporting a transaction involving Verizon Communications Inc. phantom stock.
- On July 18, 2024, Malady acquired 145.17 units of phantom stock through a deferred compensation plan.
- Each phantom stock unit is economically equivalent to a portion of one share of Verizon common stock and is settled in cash upon events established by the reporting person.
- Malady's total holdings include 346,893.532 shares of phantom stock held indirectly through a deferred compensation plan, inclusive of phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a 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
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates changes in the holdings of a Verizon executive.
Key Dates
| Date | Description |
|---|---|
| 07/18/2024 | Date of phantom stock acquisition |
| 07/22/2024 | Date Form 4 was filed |
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