Form 4: Verizon Executive Sowmyanarayan Sampath Reports Changes in Beneficial Ownership

EVP and Group CEO of Verizon Consumer, Sowmyanarayan Sampath, reports acquisition of phantom stock units and adjustments to holdings through a deferred compensation plan.

Summary

• On April 25, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported changes in beneficial ownership.
• The transactions involved phantom stock units acquired through a deferred compensation plan.
• Sampath acquired 176.175 phantom stock units, each equivalent to a portion of one share of common stock and settled in cash.
• Following the reported transaction, Sampath beneficially owns 104,912.153 shares of common stock indirectly through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

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

Future Outlook

The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

Executive compensation and stock ownership are common disclosures for publicly traded companies, providing transparency into executive incentives and alignment with shareholder interests.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, stock options, restricted stock units (RSUs), and performance-based bonuses.
• Phantom stock is a common tool used to provide executives with the benefits of stock ownership without actually issuing shares.
• Companies like AT&T and T-Mobile also disclose similar information regarding executive stock ownership and compensation in their SEC filings.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and alignment of interests.
• Employees participating in the deferred compensation plan are indirectly impacted by the value of the phantom stock units.

Key Dates