Mary-Lee Stillwell, Senior Vice President and Controller at Verizon Communications Inc., has reported a transaction involving phantom stock. This update is significant as it highlights her continued investment in the company, suggesting confidence in its future performance.
Verizon Communications Inc., a major player in the telecommunications industry, operates under the SIC code 4813, which encompasses telephone communications (excluding radio telephone). The company is incorporated in Delaware and has its fiscal year ending on December 31. Recent filings show ongoing activity, with the latest being on October 9, 2026.
The filing reveals that on October 8, 2026, Stillwell acquired 44.176 units of phantom stock at a price of $13.23 per unit. Following this transaction, she now holds a total of 17,231.341 shares, including those acquired through dividend reinvestment. The nature of this ownership is classified as indirect, through a deferred compensation plan.
This transaction may affect various stakeholders, including Verizon’s employees and shareholders, as it reflects the confidence of its executives in the company's direction. The telecommunications sector, characterized by fierce competition, continues to evolve, with Verizon facing rivals like AT&T and T-Mobile.
The filing does not say what happens next regarding further transactions or company announcements.
Details of the Phantom Stock Transaction
The phantom stock units acquired by Stillwell represent an economic equivalent of common stock, which is settled in cash. This means that the value of the phantom stock is tied to the performance of Verizon's common stock, providing an incentive for executives to align their interests with those of shareholders. The shares of phantom stock become payable upon specific events established by Stillwell in accordance with the deferred compensation plan.
Ownership Structure
Following this transaction, Stillwell's total holdings now amount to 17,231.341 shares, which includes phantom stock acquired through dividend reinvestment. This indicates a strategic approach to her compensation, reflecting a commitment to the long-term success of Verizon Communications Inc.
Corporate Governance
As the Senior Vice President and Controller, Stillwell plays a crucial role in the financial management of Verizon. Her transactions and ownership stakes are closely monitored under SEC regulations, ensuring transparency and accountability in corporate governance.
"Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash."
The filing does not provide further details on the specific events that would trigger the payout of the phantom stock or any future plans regarding other potential transactions by Stillwell.