Form 4: Verizon SVP and Controller Mary-Lee Stillwell Reports Changes in Beneficial Ownership

Mary-Lee Stillwell, SVP and Controller at Verizon, filed a Form 4 detailing transactions involving Verizon's common stock and restricted stock units.

Summary

• On March 1, 2024, Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., reported changes in beneficial ownership.
• The transactions involved the vesting of restricted stock units (RSUs) and the subsequent disposition of shares to cover taxes.
• Stillwell acquired 1,064 shares of common stock through the vesting of 2021 RSUs, then disposed of 303 shares at a price of $40.2.
• She also acquired 1,364 shares through the vesting of 2022 RSUs, followed by the disposal of 388 shares at $40.2.
• Additionally, 8,295 shares were acquired through the vesting of 2023 RSUs, with 2,359 shares disposed of at $40.2.
• Stillwell was also granted 26,120 restricted stock units under the 2024 award.
• Following these transactions, Stillwell directly owns 16,439 shares of Verizon common stock and 26,120 restricted stock units.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The granting of 26,120 restricted stock units to Mary-Lee Stillwell under the 2024 award indicates continued alignment of her interests with the company's long-term performance.

Future Outlook

The 2024 RSUs will vest in three equal annual installments beginning on March 1, 2025, indicating future potential stock ownership changes.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing is typical for executives receiving stock-based compensation.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, especially in the technology and telecommunications sectors.
• Companies like AT&T, T-Mobile, and Comcast also utilize RSUs and stock options as part of their executive compensation packages.
• The vesting schedules and terms of these awards are generally comparable across the industry, with vesting periods typically ranging from three to five years.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the standard vesting and tax-related selling of shares by a company executive.

Key Dates