Form 4: Verizon Executive Vandana Venkatesh Reports Phantom Stock Acquisition

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 on May 28, 2024, reporting a transaction involving phantom stock.
• On May 23, 2024, Venkatesh acquired 72.8 units of phantom stock at $11.25 each through a deferred compensation plan.
• These phantom stock units are the economic equivalent of Verizon common stock and are settled in cash upon events established by the reporting person.
• Following the reported transaction, Venkatesh beneficially owns 34,990.476 units of phantom stock, including those acquired through dividend reinvestment, held indirectly through a deferred compensation plan.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting executive compensation, neither particularly positive nor negative.

Future Outlook

The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with company performance.

Key Dates