Form 4: Verizon Executive Sowmyanarayan Sampath Reports Acquisition of Phantom Stock
SEC Form 4 Filing
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 August 1, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., acquired 169.246 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 109,604.816 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: This is a routine regulatory filing, so the sentiment is neutral.
Future Outlook
The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 08/01/2024 | Date of phantom stock acquisition. |
| 08/05/2024 | Date of signature on the Form 4 filing. |
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