Form 4: Verizon Executive Reports Acquisition of Phantom Stock Units
SEC Filing
Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon, reports the acquisition of phantom stock units and holdings in a deferred compensation plan.
Summary
- On September 12, 2024, Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., reported acquiring 74.707 units of phantom stock at a price of $12.51 each.
- These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon certain events as per the deferred compensation plan.
- Following the transaction, Russo's indirect holdings include 50,154.245 units of phantom stock through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing a transaction of phantom stock units, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with company performance.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 09/12/2024 | Date of transaction: acquisition of phantom stock units. |
| 09/16/2024 | Date of signature for the report. |
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