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Director at Veris Residential (NYSE: VRE) receives phantom stock award

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

Rhea-AI Filing Summary

Veris Residential, Inc. director Frederic Cumenal received a grant of 159.123 phantom stock units on common stock. These units convert into common shares on a one-for-one basis and increased his cumulative phantom stock holdings to 37,692.433 units.

The award reflects a quarterly dividend credited on cumulative phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors. All phantom stock units are to be settled 100% in Veris Residential common stock when his Board service ends or if a change in control occurs.

Positive

  • None.

Negative

  • None.
Insider Cumenal Frederic
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock Units 159.123 $18.87 $3K
Holdings After Transaction: Phantom Stock Units — 37,692.433 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 159.123 units Award credited on 2026-03-31 under directors’ plan
Price reference per unit $18.87 per unit Transaction price per phantom stock unit
Total phantom units after grant 37,692.433 units Cumulative phantom stock units following transaction
Conversion ratio 1 unit : 1 share Phantom stock units convert to common stock one-for-one
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
"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*
Cumenal Frederic
(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)03/31/2026A159.123(2) (3) (3)Common Stock, $0.01 par value159.123$18.8737,692.433D
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/ Frederic Cumenal04/02/2026
** 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 did Veris Residential (VRE) director Frederic Cumenal report on this Form 4?

Director Frederic Cumenal reported receiving 159.123 phantom stock units linked to Veris Residential common stock. The grant was made under the Deferred Compensation Plan for Directors and represents a quarterly dividend credit on his existing phantom stock balance.

How many phantom stock units does Frederic Cumenal hold after this Veris Residential (VRE) transaction?

After the award, Frederic Cumenal holds a total of 37,692.433 phantom stock units. Each unit is tied to Veris Residential common stock on a one-for-one basis and will ultimately be settled in shares under the plan’s terms.

What are Veris Residential (VRE) phantom stock units as disclosed in this filing?

The phantom stock units are rights that convert into Veris Residential common stock on a one-for-one basis. They are accrued under the Deferred Compensation Plan for Directors and are settled entirely in common stock at the end of Board service or upon a change in control.

Why were 159.123 phantom stock units granted to the Veris Residential (VRE) director?

The 159.123 phantom stock units represent a quarterly dividend credited on cumulative phantom stock units. This credit is made under the Veris Residential Deferred Compensation Plan for Directors, effectively mirroring dividends that would be earned on equivalent common shares.

When will Frederic Cumenal’s Veris Residential (VRE) phantom stock units be settled into common stock?

The phantom stock units will be settled 100% in Veris Residential common stock when Frederic Cumenal’s service on the Board ends or if a change in control of the company occurs, according to the plan terms described.