SEC Form 4 · accession 0001611593-18-000050
VERIZON COMMUNICATIONS INC · VZ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthew D. Ellis
Officer — EVP and CFO
Period of report
Mar 3, 2018
Accepted (ET)
Mar 6, 2018 · 9:55 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000732712
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 3, 2018 | M | 8,896 | — | A | 33,050 | D | |
| Common Stock | Mar 3, 2018 | F | 4,382 | $48.26 | D | 28,668 | D | |
| Common Stock | holding | — | — | — | 899 | I | By 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units - 2017-2020 Award CycleF1,F2 | — | Mar 3, 2018 | M | 10,466 | D | — | — | Common Stock | 10,466 | 20,932 | D |
Explanation of responses
- F1Each Restricted Stock Unit (RSU) represents the right to receive one share of common stock on the payment date with respect to the date that the RSU vests, unless deferred into the reporting person's deferred compensation plan account at the election of the reporting person. To the extent deferred, each RSU represents the right to have an amount equal to the value of one share of common stock on the payment date credited to the reporting person's deferred compensation plan account and deemed invested in a hypothetical cash-based investment option. The reporting person elected to defer 15% of the RSUs into the deferred compensation plan.
- F2Subject to the terms of the Restricted Stock Unit Agreement, the RSUs vest in three equal annual installments beginning on March 3, 2018.