Form 4: Verizon Executive Reports Acquisition of Phantom Stock Units

Samantha Hammock, EVP & Chief HR Officer at Verizon, reports acquiring phantom stock units through a deferred compensation plan.

Summary

• Samantha Hammock, an executive at Verizon Communications Inc., filed a Form 4 detailing changes in beneficial ownership.
• The transaction involved the acquisition of phantom stock units through a deferred compensation plan on March 14, 2024.
• A total of 82.305 phantom stock units were acquired at a price of $11.36 each.
• Following the transaction, Hammock beneficially owns 17,355.729 phantom stock units indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
• Each phantom stock unit is the economic equivalent of one share of Verizon 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 routine regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of phantom stock units aligns the executive's interests with the company's performance.
• The deferred compensation plan allows for long-term wealth accumulation tied to Verizon's stock performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.

Key Dates