Form 4: Verizon Executive Sowmyanarayan Sampath Reports Acquisition of Phantom Stock
SEC Form 4 Filing
EVP and Group CEO-VZ Consumer, Sowmyanarayan Sampath, reports acquiring phantom stock units equivalent to 50 shares of Verizon Communications Inc. common stock through a deferred compensation plan.
Summary
- On March 14, 2024, Sowmyanarayan Sampath, an EVP and Group CEO at Verizon Communications Inc., acquired phantom stock units.
- The acquisition was made through a deferred compensation plan.
- The transaction involved 50 shares of phantom stock at a price of $11.36.
- Following the transaction, Sampath indirectly owns 104,399.168 shares of phantom stock through the deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't convey any positive or negative sentiment about the company's performance or prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives and their holdings in the company's stock.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it involves phantom stock and not direct ownership of common stock.
Key Dates
| Date | Description |
|---|---|
| 03/14/2024 | Date of phantom stock acquisition |
| 03/18/2024 | Date of signature for the Form 4 filing |
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