Form 4: Verizon Executive Sowmyanarayan Sampath Reports Phantom Stock Acquisition

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

Summary

• On April 11, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., acquired phantom stock units.
• The transaction was reported on a Form 4 filing with the SEC.
• The acquisition involved 172.067 shares of phantom stock at a price of $11.47 per share.
• Following the reported transaction, Sampath beneficially owns 104,735.978 shares of phantom stock, including those acquired through dividend reinvestment, held indirectly through a deferred compensation plan.
• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash, payable 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, reporting a standard executive compensation transaction. It doesn't inherently convey positive or negative sentiment.

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 a routine part of executive compensation and provide transparency into the holdings of company insiders. Phantom stock is a common form of deferred compensation.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it involves phantom stock and deferred compensation for an executive.

Key Dates