Form 4: Verizon SVP Acquires Phantom Stock Through Deferred Compensation Plan

Verizon Communications Inc. SVP and Controller Mary-Lee Stillwell acquired 49.351 units of phantom stock through a deferred compensation plan, increasing her indirect beneficial ownership to 12,093.396 units.

Summary

• Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc. (VZ), acquired 49.351 units of phantom stock.
• The transaction occurred on July 17, 2025.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The phantom stock units were acquired at a price of $11.69 per unit.
• Following this transaction, Mary-Lee Stillwell indirectly beneficially owns 12,093.396 units of phantom stock through a deferred compensation plan.
• This total includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a senior executive, especially through a deferred compensation plan and including dividend reinvestment, generally indicates a positive alignment of interests and confidence in the company's long-term performance. It's a routine compensation event, not a direct market purchase, but still reflects executive commitment.

Positives

• Acquisition of phantom stock by a senior executive indicates continued alignment of management's interests with shareholder value through a deferred compensation plan.
• The increase in beneficial ownership, including through dividend reinvestment, suggests a long-term commitment to the company.

Future Outlook

The document indicates a future transaction date of July 17, 2025, for the acquisition of phantom stock, suggesting a pre-planned or scheduled compensation event. The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Management Comments

• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• Includes phantom stock acquired through dividend reinvestment.

Industry Context

This filing is a routine insider transaction report for a major telecommunications company. Such transactions are common as part of executive compensation packages, often involving deferred compensation or equity awards. It reflects standard corporate governance practices for aligning executive incentives with company performance.

Comparison to Industry Standards

• This type of executive compensation, involving phantom stock and deferred compensation plans, is a common practice across large, publicly traded companies, particularly in mature industries like telecommunications.
• Companies such as AT&T (T), T-Mobile (TMUS), and Comcast (CMCSA) also utilize various forms of equity-based compensation and deferred plans for their executives to encourage long-term retention and performance alignment.
• The specific details of the plan (cash settlement, payment upon established events) are typical for such arrangements, providing executives with exposure to stock performance without direct share ownership until settlement.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by a senior executive aligns management's interests with shareholder value, potentially fostering long-term growth and stability.

Next Steps

• The phantom stock units will become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Key Dates

Recommendation

Keywords

Verizon, VZ, SEC Form 4, Insider Trading, Phantom Stock, Deferred Compensation, Executive Compensation, Mary-Lee Stillwell, Stock Acquisition