Form 4: Verizon Executive Vandana Venkatesh Reports Phantom Stock Transaction
SEC Filing
EVP and Chief Legal Officer of Verizon, Vandana Venkatesh, reports acquisition of phantom stock units under deferred compensation plan.
Summary
- Vandana Venkatesh, EVP and Chief Legal Officer of Verizon Communications Inc., filed a Form 4 on March 18, 2024, reporting a transaction involving phantom stock.
- On March 14, 2024, Venkatesh acquired 72.144 units of phantom stock at a price of $11.36 each.
- These phantom stock units are the economic equivalent of Verizon common stock and are settled in cash upon events established by the reporting person in accordance with the deferred compensation plan.
- Following the reported transaction, Venkatesh beneficially owns 34,057.813 units of phantom stock through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Executive compensation packages often include phantom stock as a way to align executive interests with shareholder value. This filing is a routine disclosure of such a transaction.
Key Dates
| Date | Description |
|---|---|
| 03/14/2024 | Date of phantom stock transaction |
| 03/18/2024 | Date of Form 4 filing |
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