Form 4: Verizon SVP and Controller, Stillwell Mary-Lee, Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Mary-Lee Stillwell, SVP and Controller at Verizon Communications Inc, reported the acquisition of phantom stock units and holdings in a deferred compensation plan.
Summary
- On August 15, 2024, Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc, reported a transaction involving phantom stock.
- Stillwell acquired 41.396 units of phantom stock at a price of $11.43 per unit.
- These phantom stock units are the economic equivalent of Verizon common stock and will be settled in cash upon certain events as per the deferred compensation plan.
- Stillwell also holds 7,827.177 units of phantom stock indirectly through a deferred compensation plan, which includes phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing. It doesn't inherently indicate positive or negative sentiment, but rather reports a transaction.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates activity in phantom stock, which is a common form of executive compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it involves phantom stock and a deferred compensation plan.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of phantom stock acquisition. |
| 08/19/2024 | Date of report submission. |
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