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 them indirectly through a deferred compensation plan.
Summary
- On June 20, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., acquired phantom stock units.
- The acquisition was made indirectly through a deferred compensation plan.
- The price of the phantom stock was $11.48 per unit.
- Sampath now beneficially owns 107,361.375 shares of common stock, including phantom stock acquired through dividend reinvestment.
- The phantom stock is the economic equivalent of Verizon common stock and is settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, indicating standard insider trading activity. It doesn't inherently suggest positive or negative sentiment.
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.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 06/20/2024 | Date of transaction: Acquisition of phantom stock units |
| 06/24/2024 | Date of report filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.