Form 4: Verizon Executive Sowmyanarayan Sampath Reports Phantom Stock Acquisition
SEC Form 4 Filing
EVP and Group CEO-VZ Consumer, Sowmyanarayan Sampath, reports acquisition of phantom stock units and holdings in Verizon Communications Inc.
Summary
- On March 28, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., reported acquiring 164.743 units of phantom stock.
- These phantom stock units are economically equivalent to shares of Verizon's common stock and will be settled in cash upon certain events.
- Following the transaction, Sampath's indirect beneficial ownership includes 104,563.911 units of phantom stock through a deferred compensation plan, inclusive of phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of an executive's stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.
Stakeholder Impact
- Shareholders can use this information to monitor executive compensation and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Date of phantom stock acquisition |
| 04/01/2024 | Date of signature on the Form 4 filing |
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