Verizon (VZ) director Clarence Otis Jr. granted 5,062 phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OTIS CLARENCE JR reported acquisition or exercise transactions in this Form 4 filing.
Verizon Communications director Clarence Otis Jr. received an award of 5,062 shares of phantom stock credited to a Deferred Compensation Plan. Each phantom share is economically equivalent to one share of Verizon common stock and will be settled in cash after his service as a director ends, bringing his total phantom stock holdings under the plan to 152,430 shares, including amounts from dividend reinvestment.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
OTIS CLARENCE JR
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 5,062 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock — 152,430 shares (Indirect, By Deferred Compensation Plan)
Footnotes (1)
- Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock become payable following the reporting person's termination of service as a director. Includes phantom stock acquired through dividend reinvestment.
Key Figures
Phantom stock awarded: 5,062 units
Phantom stock after award: 152,430 units
Transaction price per unit: $0.0000
+1 more
4 metrics
Phantom stock awarded
5,062 units
Grant on 2026-04-01 under Deferred Compensation Plan
Phantom stock after award
152,430 units
Total phantom stock holdings following transaction
Transaction price per unit
$0.0000
Compensation grant with no cash paid by director
Underlying common stock equivalent
5,062 shares
Each phantom stock unit equals one share of common stock economically
Key Terms
Phantom Stock, Deferred Compensation Plan, dividend reinvestment
3 terms
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Deferred Compensation Plan financial
"nature_of_ownership: By Deferred Compensation Plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
dividend reinvestment financial
"Includes phantom stock acquired through dividend reinvestment."
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
FAQ
What insider transaction did Verizon (VZ) report for Clarence Otis Jr.?
Verizon reported that director Clarence Otis Jr. received 5,062 shares of phantom stock. The award is part of a Deferred Compensation Plan and represents additional cash-settled, stock-linked compensation rather than an open-market share purchase or sale.
How many phantom stock units does Clarence Otis Jr. hold after this Form 4 at Verizon (VZ)?
After this award, Clarence Otis Jr. holds 152,430 phantom stock units. These units are credited under a Deferred Compensation Plan and track Verizon common stock value, including units previously acquired through dividend reinvestment.
What is phantom stock in the context of Verizon (VZ) director compensation?
Phantom stock is a cash-settled award whose value mirrors one share of Verizon common stock. It provides economic exposure to the stock price without delivering actual shares, and is typically paid out in cash at a later date specified by the plan.
When will Clarence Otis Jr.’s Verizon (VZ) phantom stock become payable?
The phantom stock units become payable after Clarence Otis Jr. terminates his service as a Verizon director. At that time, the cash value tied to the then-current share price is paid under the Deferred Compensation Plan’s terms.
Does this Verizon (VZ) Form 4 reflect a stock purchase or sale on the market?
No. The filing reflects a grant of 5,062 phantom stock units as compensation, not an open-market trade. The units are credited to a Deferred Compensation Plan and settled in cash rather than through buying or selling Verizon shares.
How is the Verizon (VZ) phantom stock award priced in this Form 4?
The Form 4 shows a transaction price of $0.0000 per phantom stock unit, indicating it is a compensation grant with no cash paid by the director. The economic value instead tracks Verizon common stock performance over time.