Form 4: Verizon Executive Sowmyanarayan Sampath Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
EVP and Group CEO of Verizon Consumer, Sowmyanarayan Sampath, reports acquiring phantom stock units and holding common stock through a deferred compensation plan.
Summary
- On June 6, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported acquiring phantom stock units.
- The transaction involved the acquisition of 167.326 phantom stock units, each equivalent to a portion of one share of common stock, settled in cash.
- Following the reported transaction, Sampath beneficially owns 107,189.552 shares of common stock indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
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 |
|---|---|
| 06/06/2024 | Date of the phantom stock acquisition transaction. |
| 06/10/2024 | Date of the report filing. |
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