Form 4: Verizon Executive Sowmyanarayan Sampath Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP and Group CEO of Verizon Consumer, Sowmyanarayan Sampath, reports changes in beneficial ownership, including the acquisition of phantom stock units.
Summary
- On August 15, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported changes in beneficial ownership.
- The reported transactions include the acquisition of phantom stock units.
- Sampath directly owns common stock and indirectly owns phantom stock through a deferred compensation plan.
- The total amount of securities beneficially owned following the reported transactions includes 109,777.466 shares of common stock and phantom stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions related to executive compensation.
Future Outlook
The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities. It's a standard practice for executives to hold and trade company stock and related instruments as part of their compensation.
Comparison to Industry Standards
- Executive compensation packages often include stock options, restricted stock units (RSUs), and phantom stock to align executive interests with shareholder value.
- Companies like AT&T (T) and T-Mobile (TMUS) also utilize similar compensation strategies for their executives.
- The specific terms and conditions of these equity-based awards can vary significantly between companies and are often benchmarked against industry peers to ensure competitiveness.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and alignment of interests.
- Employees may be interested in the details of executive compensation packages.
- The information is unlikely to have a direct impact on customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of the earliest transaction reported: Acquisition of phantom stock. |
| 08/19/2024 | Date of signature by Attorney-in-fact for Sowmyanarayan Sampath. |
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