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.
• The filing reports a transaction involving phantom stock units acquired on March 14, 2024.
• Stillwell acquired 41.661 units of phantom stock through a deferred compensation plan at a price of $11.36 per unit.
• Following the transaction, Stillwell beneficially owns 7,133.821 units of phantom stock indirectly through the deferred compensation plan, including shares acquired through dividend reinvestment.
• Each phantom stock unit is the economic equivalent of a portion of one share of Verizon 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 neutral regulatory filing. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Phantom stock is a common form of deferred compensation.

Key Dates