Form 4: Verizon Executive Mary-Lee Stillwell Acquires Phantom Stock Units

Verizon's SVP and Controller, Mary-Lee Stillwell, acquired phantom stock units through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., acquired 40.971 units of phantom stock on January 30, 2025.
• These phantom stock units are economically equivalent to a portion of one share of common stock and will be settled in cash.
• The acquisition was made through a deferred compensation plan, with the payout occurring upon events established by the reporting person.
• The price of the phantom stock was $11.27 per unit.
• The total number of phantom stock units owned by Stillwell after the transaction is 8,433.658, which includes units acquired through dividend reinvestment.

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 aligns the executive's interests with the company's performance.
• The deferred compensation plan provides a mechanism for long-term incentives.

Industry Context

This is a standard practice for executive compensation in publicly traded companies, aligning management's interests with shareholder value through equity-based incentives.

Comparison to Industry Standards

• Many large publicly traded companies, such as AT&T and T-Mobile, use similar deferred compensation plans and phantom stock units as part of their executive compensation packages.
• These plans are designed to incentivize long-term performance and align executive interests with shareholder value, which is a common practice across the telecommunications industry and other sectors.
• The use of phantom stock settled in cash is a common alternative to traditional stock options, providing flexibility and avoiding dilution of existing shares.

Stakeholder Impact

• The acquisition of phantom stock units by an executive is generally viewed positively by shareholders as it aligns management's interests with the company's long-term performance.

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, insider trading, Verizon, stock units, Form 4