Form 4: Verizon Executive Samantha Hammock Reports Acquisition of Phantom Stock

EVP & Chief HR Officer of Verizon, Samantha Hammock, reports the acquisition of phantom stock units through a deferred compensation plan.

Summary

• Samantha Hammock, EVP & Chief HR Officer at Verizon Communications Inc., filed a Form 4 on August 19, 2024, reporting a transaction involving phantom stock.
• On August 15, 2024, Hammock acquired phantom stock (unitized) at a price of $11.43 per unit.
• The acquisition was made through a deferred compensation plan.
• The total amount of phantom stock beneficially owned following the reported transaction is 18,834.191, which includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a routine transaction disclosure. The acquisition of phantom stock is generally a positive sign, indicating alignment of executive interests with company performance, but it's not a major event.

Positives

• The acquisition of phantom stock through a deferred compensation plan aligns the executive's interests with the company's performance.
• Dividend reinvestment further increases the executive's stake in the company's success.

Future Outlook

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

Industry Context

Executive compensation packages often include phantom stock or similar instruments to align executive incentives with shareholder value. This filing is a routine disclosure of such a transaction.

Comparison to Industry Standards

• Verizon's executive compensation practices, including the use of phantom stock, are common among large publicly traded companies.
• Companies like AT&T and Comcast also utilize similar compensation structures to incentivize their executives.
• The specific terms of the deferred compensation plan and the vesting schedule for the phantom stock would need to be compared to industry benchmarks to assess their competitiveness.

Stakeholder Impact

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term performance.

Key Dates