Form 4: Verizon Executive Reports Changes in Beneficial Ownership

EVP and Group CEO of Verizon Consumer, Sowmyanarayan Sampath, reports changes in beneficial ownership of Verizon Communications Inc. stock, including phantom stock units acquired through a deferred compensation plan.

Summary

• On July 3, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported changes in beneficial ownership.
• The report details the acquisition of 168.167 units of phantom stock through a deferred compensation plan.
• Each unit of phantom stock is economically equivalent to one share of common stock and is settled in cash upon events established by the reporting person.
• Sampath's total beneficial ownership following the reported transaction includes 107,529.542 shares of phantom stock, including those acquired through dividend reinvestment.
• The reporting person holds the phantom stock indirectly through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It reports a transaction without expressing any positive or negative sentiment.

Future Outlook

The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies like Verizon. It provides transparency into the holdings of key personnel and their alignment with shareholder interests.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar equity-based incentives to align management's interests with those of shareholders.
• Companies like AT&T and T-Mobile also utilize similar compensation strategies for their executives.
• The specific terms and conditions of phantom stock plans can vary, but the general principle of linking executive compensation to company performance is a common industry practice.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and alignment of interests.
• It assures stakeholders that executives' wealth is tied to the performance of the company.

Key Dates