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 equivalent to 155.049 shares of common stock through a deferred compensation plan.

Summary

• On September 26, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., acquired 155.049 units of phantom stock.
• Each unit of phantom stock is economically equivalent to a fraction of one share of Verizon's common stock and will be settled in cash.
• The acquisition was made through a deferred compensation plan.
• Following the transaction, Sampath directly or indirectly owns 110,257.855 units of phantom stock.
• The price of the derivative security was $12.73.
• The reporting person has indirect ownership through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

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