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 a significant amount through a deferred compensation plan.

Summary

• On October 10, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., acquired 161.041 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 the transaction, Sampath directly or indirectly beneficially owns 110,418.896 units of phantom stock, including those acquired through dividend reinvestment.
• The phantom stock is held indirectly through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing regarding executive compensation, so the sentiment is neutral.

Future Outlook

The phantom stock will be settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

Executive compensation through phantom stock is a common practice in publicly traded companies, aligning executive incentives with shareholder value.

Comparison to Industry Standards

• Phantom stock plans are a common form of executive compensation, similar to restricted stock units (RSUs) used by companies like Apple and Microsoft.
• The vesting and settlement terms of Verizon's phantom stock plan would need to be compared to those of similar plans at companies like AT&T or Comcast to assess its competitiveness.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation.
• The phantom stock aligns the executive's interests with the company's performance.

Key Dates