Form 4: Verizon Executive Sowmyanarayan Sampath Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Verizon's EVP and Group CEO-VZ Consumer, Sowmyanarayan Sampath, reports acquiring phantom stock units equivalent to 167.481 shares of common stock through a deferred compensation plan.
Summary
- On February 13, 2025, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported the acquisition of 167.481 units of phantom stock.
- These phantom stock units are economically equivalent to shares of Verizon's common stock and will be settled in cash upon certain events as per the deferred compensation plan.
- Following this transaction, Sampath's beneficially owned derivative securities include 115,645.265 units of phantom stock, including those acquired through dividend reinvestment.
- The reporting person has a Power of Attorney authorizing William L. Horton, Jr., Dana C. Kahney, Evgeniya Berezkina and Meryl Friedman to file reports on their behalf regarding transactions in Verizon's equity securities.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about insider transactions.
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 shareholder interests.
Comparison to Industry Standards
- Executive compensation packages often include phantom stock or similar equity-based awards to align management's interests with those of shareholders.
- The specific terms and conditions of deferred compensation plans, including vesting schedules and settlement methods, can vary significantly across companies and industries.
- Comparing the size and structure of Sampath's phantom stock holdings to those of executives at comparable companies like AT&T (T) or T-Mobile (TMUS) could provide insights into Verizon's compensation practices.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation.
- The acquisition of phantom stock aligns the executive's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 02/05/2025 | Date of Power of Attorney |
| 02/13/2025 | Date of transaction (acquisition of phantom stock) |
| 02/14/2025 | Date of Form 4 filing |
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