Form 4: Verizon Executive Stillwell Reports Phantom Stock Acquisition

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 on April 1, 2024.
• The form reports a transaction on March 28, 2024, where Stillwell acquired 39.5 units of phantom stock through a deferred compensation plan.
• The price of the derivative security was $11.98.
• Following the reported transaction, Stillwell beneficially owns 7,173.321 derivative securities through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.
• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing an executive's stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates an executive's participation in a deferred compensation plan, a common practice in executive compensation.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and stock ownership.

Key Dates