Form 4: Verizon Executive Stillwell Acquires Phantom Stock Units
SEC Form 4 Filing
Mary-Lee Stillwell, SVP and Controller at Verizon, acquired phantom stock units equivalent to 42.241 shares of common stock on April 25, 2024, through a deferred compensation plan.
Summary
- Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., reported a transaction involving phantom stock.
- On April 25, 2024, Stillwell acquired 42.241 units of phantom stock at a price of $11.2 per unit.
- These phantom stock units are the economic equivalent of Verizon common stock and are settled in cash upon certain events as per the deferred compensation plan.
- Following the transaction, Stillwell beneficially owns 7,256.818 units of phantom stock through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing an executive's acquisition of phantom stock, which is a neutral event.
Industry Context
This filing is a routine disclosure of insider transactions, which are common among executives at publicly traded companies like Verizon. These transactions are subject to regulatory scrutiny to prevent insider trading.
Key Dates
| Date | Description |
|---|---|
| 04/25/2024 | Date of transaction: Mary-Lee Stillwell acquired phantom stock units. |
| 04/29/2024 | Date of report: Form 4 filing date. |
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