Form 4: Verizon Executive Sowmyanarayan Sampath Reports Acquisition of Phantom Stock

EVP and Group CEO of Verizon Consumer, Sowmyanarayan Sampath, reports acquiring phantom stock units and holding phantom stock through a deferred compensation plan.

Summary

• On November 7, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported acquiring 170.476 units of phantom stock.
• 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, Sampath beneficially owns 112,550.111 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 standard regulatory filing, indicating a neutral sentiment.

Future Outlook

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

Industry Context

This filing is a routine disclosure of executive compensation in the form of phantom stock, a common practice among publicly traded companies to align executive interests with shareholder value.

Stakeholder Impact

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders, as the value of the phantom stock is tied to the performance of Verizon's common stock.

Key Dates