Form 4: Verizon Executive Vandana Venkatesh Reports Stock Transactions

EVP and Chief Legal Officer of Verizon, Vandana Venkatesh, reports acquisition and disposal of Verizon common stock and restricted stock units.

Summary

• Vandana Venkatesh, EVP and Chief Legal Officer of Verizon Communications Inc., filed a Form 4 detailing changes in beneficial ownership.
• On March 1, 2024, Venkatesh acquired and disposed of common stock related to the vesting of restricted stock units (RSUs).
• Specifically, 2,453, 4,414, and 13,070 shares were acquired through the vesting of RSUs from the 2021, 2022, and 2023 awards, respectively.
• Contemporaneously, 1,255 and 2,350 shares were disposed of at a price of $40.2 per share to cover tax obligations.
• Venkatesh also acquired 44,777 restricted stock units under the 2024 award, which will vest in three equal annual installments beginning March 1, 2025.
• Following these transactions, Venkatesh directly owns 24,459 shares of common stock and indirectly owns 5,743 shares through a 401(k) plan.
• She also holds 4,416 and 26,142 restricted stock units from the 2022 and 2023 awards respectively, in addition to the 44,777 restricted stock units from the 2024 award.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to executive stock transactions, indicating a neutral sentiment.

Future Outlook

The 2024 RSUs will vest in three equal annual installments beginning on March 1, 2025.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.

Key Dates