Form 4: Verizon Executive Vandana Venkatesh Reports Changes in Beneficial Ownership

EVP and Chief Legal Officer of Verizon, Vandana Venkatesh, reports acquisition of phantom stock units through a deferred compensation plan.

Summary

• Vandana Venkatesh, EVP and Chief Legal Officer of Verizon Communications Inc., filed a Form 4 with the SEC.
• The filing reports a transaction involving phantom stock units acquired through a deferred compensation plan on June 20, 2024.
• Venkatesh acquired phantom stock equivalent to 20 shares of common stock at a price of $11.48, resulting in 71.342 phantom stock units.
• Following the reported transaction, Venkatesh beneficially owns 35,131.292 phantom stock units indirectly 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 standard regulatory filing regarding executive compensation, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies like Verizon. It provides transparency into the equity-based compensation of key executives.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar equity-based incentives.
• Companies like AT&T and T-Mobile also utilize equity-based compensation to align executive interests with shareholder value.
• The specific terms of deferred compensation plans can vary widely across companies, but the general structure is common.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation.
• The use of phantom stock aligns executive interests with the long-term performance of the company.

Key Dates