Form 4: Verizon SVP and Controller Stillwell Reports Phantom Stock Acquisition

Mary-Lee Stillwell, SVP and Controller at Verizon, reported the acquisition of phantom stock units equivalent to 59.073 shares of common stock through a deferred compensation plan on February 29, 2024.

Summary

• On February 29, 2024, Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., acquired phantom stock units.
• The transaction involved the acquisition of 59.073 phantom stock units at a price of $11.43 each.
• 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.
• Following the reported transaction, Stillwell beneficially owns 7,092.16 derivative securities through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation, and does not inherently indicate positive or negative 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

This Form 4 filing is a routine disclosure of a company insider's transaction in derivative securities, specifically phantom stock, which is a common form of executive compensation.

Key Dates