Form 4: Verizon Executive Stillwell Reports Phantom Stock Acquisition
SEC Form 4 Filing
Mary-Lee Stillwell, SVP and Controller at Verizon, reports acquisition of phantom stock units through a deferred compensation plan.
Summary
- Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., filed a Form 4 on October 15, 2024, reporting a transaction involving phantom stock.
- On October 10, 2024, Stillwell acquired 38.612 units of phantom stock through a deferred compensation plan.
- Each phantom stock unit 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.
- Stillwell's beneficial ownership following the reported transaction includes 7,980.971 shares of common stock, held indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 10/10/2024 | Date of phantom stock acquisition |
| 10/15/2024 | Date of Form 4 filing |
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