Form 4: Verizon SVP and Controller, Mary-Lee Stillwell, Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., reported the acquisition of phantom stock units and holdings through a deferred compensation plan.
Summary
- On June 20, 2024, Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., reported acquiring phantom stock units.
- Stillwell acquired 41.198 phantom stock units at a price of $11.48 each.
- These phantom stock units are the economic equivalent of Verizon common stock shares and are settled in cash upon certain events as per the deferred compensation plan.
- Following the transaction, Stillwell beneficially owns 7,542.643 shares of phantom stock through a deferred compensation plan, including shares acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Future Outlook
The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, providing transparency to the market.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 06/20/2024 | Date of transaction: Acquisition of phantom stock units |
| 06/24/2024 | Date of report filing |
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