Form 4: Verizon Executive Reports Changes in Beneficial Ownership

Shankar Arumugavelu, EVP at Verizon, reports changes in beneficial ownership related to phantom stock units acquired through a deferred compensation plan.

Summary

• On July 3, 2024, Shankar Arumugavelu, an EVP at Verizon Communications Inc., reported changes in beneficial ownership.
• The changes involve phantom stock units acquired through a deferred compensation plan.
• A total of 155.382 shares of phantom stock were acquired at a price of $11.73, resulting in a total of 197,639.96 shares.
• 77.691 shares of phantom stock may be reallocated into other plan investments.
• The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to changes in beneficial ownership, indicating a neutral 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 is a routine disclosure related to executive compensation and is common for publicly traded companies. It reflects changes in beneficial ownership as part of deferred compensation plans.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders as it relates to executive compensation and deferred stock.

Key Dates