Form 4: Verizon Executive Stillwell Reports Acquisition of Phantom Stock Units

Mary-Lee Stillwell, SVP and Controller at Verizon, reports acquiring phantom stock units through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, a Senior Vice President and Controller at Verizon Communications Inc., filed a Form 4 with the SEC.
• The filing reports a transaction on September 26, 2024, where Stillwell acquired 37.176 units of phantom stock through a deferred compensation plan.
• Each unit of phantom stock is economically equivalent to a share of Verizon common stock and will be settled in cash upon events established by Stillwell in accordance with the deferred compensation plan.
• The reported transaction also includes phantom stock acquired through dividend reinvestment, bringing the total derivative securities beneficially owned following the reported transaction(s) to 7,942.359.
• The phantom stock is indirectly owned through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting an executive's acquisition of phantom stock, which is neutral in sentiment.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.

Stakeholder Impact

• The acquisition of phantom stock by a company executive can align their interests with those of shareholders, as the value of the stock is tied to the company's performance.

Key Dates