Form 4: Verizon Executive Vandana Venkatesh Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Vandana Venkatesh, EVP-PubPol&ChiefLegalOfficer at Verizon Communications Inc, reported the acquisition of phantom stock units and holdings in a deferred compensation plan.
Summary
- Vandana Venkatesh, an executive at Verizon Communications Inc, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 65.484 units of phantom stock on September 12, 2024, at a price of $12.51 per unit.
- These phantom stock units are the economic equivalent of Verizon common stock and are settled in cash upon certain events.
- Venkatesh also holds 36,116.558 shares of phantom stock indirectly through a deferred compensation plan, which includes shares 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 the market.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 09/12/2024 | Date of phantom stock acquisition |
| 09/16/2024 | Date of signature on the Form 4 filing |
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