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 February 29, 2024, Sowmyanarayan Sampath, EVP and Group CEO-VZ Consumer at Verizon Communications Inc., acquired 278.705 units of phantom stock.
• The acquisition was made 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.
• The price of the phantom stock was $11.43.
• Following the transaction, Sampath beneficially owns 104,225.413 units of phantom stock, including those acquired through dividend reinvestment.
• The reporting person has established events in accordance with the deferred compensation plan upon which the shares of phantom stock become payable.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing regarding executive compensation, with neutral sentiment.

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 of executive compensation in the form of phantom stock, a common practice among publicly traded companies to align executive interests with shareholder value.

Stakeholder Impact

• The acquisition of phantom stock aligns executive compensation with company performance, potentially benefiting shareholders.

Key Dates