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Veris Residential (VRE) director receives new Phantom Stock Units under deferred plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Veris Residential, Inc. director Christopher J. Papa received a grant of 10.645 Phantom Stock Units on March 31, 2026 under the company’s Deferred Compensation Plan for Directors. These units are valued at $18.87 per unit for this award and convert to common stock on a one-for-one basis.

Following this grant, Papa holds a total of 2,521.478 Phantom Stock Units. The units are to be settled entirely in Veris Residential common stock upon his termination from the Board or upon a change in control of the company.

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Insider PAPA CHRISTOPHER J
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock Units 10.645 $18.87 $200.87
Holdings After Transaction: Phantom Stock Units — 2,521.478 shares (Direct)
Footnotes (1)
  1. The phantom stock units convert to common stock on a one-for-one basis. The number of phantom stock units awarded is comprised of a quarterly dividend credited on cumulative phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors. The phantom stock units were accrued under the Veris Residential, Inc. Deferred Compensation Plan for Directors and are to be settled 100% in Veris Residential, Inc. common stock upon the termination of the reporting person's service on the Board of Directors of Veris Residential, Inc. or upon a change in control of Veris Residential, Inc.
Phantom Stock Units granted 10.645 units Grant to director on March 31, 2026
Transaction price per unit $18.87 per unit Value used for the Phantom Stock Units award
Total Phantom Stock Units after grant 2,521.478 units Director’s cumulative Phantom Stock Units holdings
Conversion ratio 1 unit : 1 share Phantom Stock Units convert one-for-one into common stock
Phantom Stock Units financial
"The phantom stock units convert to common stock on a one-for-one basis."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Deferred Compensation Plan for Directors financial
"credited on cumulative phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors."
A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.
change in control financial
"upon a change in control of Veris Residential, Inc."
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
PAPA CHRISTOPHER J
(Last)(First)(Middle)
C/O VERIS RESIDENTIAL, INC.
HARBORSIDE 3, 210 HUDSON ST., STE. 400
(Street)
JERSEY CITY NEW JERSEY 07311
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Veris Residential, Inc. [ VRE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units$0(1)03/31/2026A10.645(2) (3) (3)Common Stock, $0.01 par value10.645$18.872,521.478D
Explanation of Responses:
1. The phantom stock units convert to common stock on a one-for-one basis.
2. The number of phantom stock units awarded is comprised of a quarterly dividend credited on cumulative phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors.
3. The phantom stock units were accrued under the Veris Residential, Inc. Deferred Compensation Plan for Directors and are to be settled 100% in Veris Residential, Inc. common stock upon the termination of the reporting person's service on the Board of Directors of Veris Residential, Inc. or upon a change in control of Veris Residential, Inc.
/s/ Christopher J. Papa04/02/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Veris Residential (VRE) report for director Christopher J. Papa?

Veris Residential reported that director Christopher J. Papa received 10.645 Phantom Stock Units on March 31, 2026. The grant was made under the Deferred Compensation Plan for Directors and increased his total Phantom Stock Units to 2,521.478, all convertible into common stock on a one-for-one basis.

What are Phantom Stock Units in the Veris Residential (VRE) Form 4 filing?

The Phantom Stock Units are deferred compensation instruments that convert into Veris Residential common stock on a one-for-one basis. They are credited under the Deferred Compensation Plan for Directors and are settled 100% in common stock upon board service termination or a change in control of the company.

How many Phantom Stock Units does the Veris Residential (VRE) director hold after this transaction?

After the March 31, 2026 grant, director Christopher J. Papa holds 2,521.478 Phantom Stock Units. These units represent a right to receive an equivalent number of Veris Residential common shares in the future, subject to settlement terms defined in the Deferred Compensation Plan for Directors.

What triggered the 10.645 Phantom Stock Units awarded to the Veris Residential (VRE) director?

The 10.645 Phantom Stock Units represent a quarterly dividend credited on cumulative Phantom Stock Units under the Deferred Compensation Plan for Directors. This mechanism periodically increases the director’s deferred Phantom Stock Units balance based on dividend activity, rather than being an open-market stock purchase.

When will Veris Residential (VRE) settle the Phantom Stock Units granted to its director?

The Phantom Stock Units will be settled 100% in Veris Residential common stock upon the director’s termination of service on the Board or upon a change in control of the company. Until then, they remain deferred compensation units linked to the company’s common stock.

What price per unit is associated with the Veris Residential (VRE) Phantom Stock grant?

The 10.645 Phantom Stock Units granted to director Christopher J. Papa are associated with a transaction price of $18.87 per unit. This price is used for the reported value of the award in the Form 4, not as an open-market trade price.