Form 4: Verizon Executive Vandana Venkatesh Reports Phantom Stock Acquisition

Vandana Venkatesh, EVP-PubPol&ChiefLegalOfficer at Verizon Communications Inc, reports acquisition of phantom stock units through a deferred compensation plan.

Summary

• Vandana Venkatesh, an executive at Verizon Communications Inc, filed a Form 4 on September 3, 2024, reporting changes in beneficial ownership.
• The report indicates the acquisition of phantom stock units on August 29, 2024, through a deferred compensation plan.
• A total of 69.598 phantom stock units were acquired at a price of $11.77 each.
• Following the reported transaction, Venkatesh beneficially owns 36,051.074 phantom stock units indirectly through a deferred compensation plan, including those 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, indicating a neutral 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.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation.

Key Dates