Form 4: Verizon Executive Vandana Venkatesh Reports Phantom Stock Acquisition
SEC Form 4 Filing
EVP and Chief Legal Officer of Verizon, Vandana Venkatesh, reports acquisition of phantom stock units and holdings in deferred compensation plan.
Summary
- Vandana Venkatesh, EVP and Chief Legal Officer of Verizon Communications Inc., filed a Form 4 on June 10, 2024, reporting changes in beneficial ownership.
- The report details the acquisition of 69.474 units of phantom stock at a price of $11.79 on June 6, 2024.
- Venkatesh also holds 35,059.95 units of phantom stock indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
- Each share of phantom stock is the economic equivalent 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, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 06/06/2024 | Date of phantom stock transaction |
| 06/10/2024 | Date of Form 4 filing |
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