Form 4: Verizon Executive Vandana Venkatesh Reports Phantom Stock Acquisition
SEC Filing
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 13, 2024, reporting a transaction involving phantom stock.
- On May 9, 2024, Venkatesh acquired 72.143 units of phantom stock through a deferred compensation plan at a price of $11.36 per unit.
- Each unit of phantom stock is the economic equivalent of one share of Verizon common stock and is settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.
- Following the reported transaction, Venkatesh beneficially owns 34,917.676 units of phantom stock, including those 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 routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates changes in beneficial ownership of Verizon securities by a company executive.
Key Dates
| Date | Description |
|---|---|
| 05/09/2024 | Date of phantom stock acquisition |
| 05/13/2024 | Date of Form 4 filing |
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