Cumenal Frederic 4

What Happened Frederic Cumenal, a member of the Board of Directors of Veris Residential, received an award of 159.123 phantom stock units on March 31, 2026. The filing values the award at $18.87 per unit for a total reported value of $3,003. This award is a derivative grant (phantom stock) under the company's deferred compensation plan for directors, not an open-market purchase.

Key Details

• Transaction date and type: 2026-03-31 — Award/Grant (code A) of phantom stock units.
• Quantity, price, value: 159.123 units at $18.87 each; total reported value $3,003.
• Shares owned after transaction: Not disclosed in this filing.
• Important footnotes:
  • The phantom units convert to common stock on a one-for-one basis (F1).
  • The award represents a quarterly dividend credit on cumulative phantom units under the Director Deferred Compensation Plan (F2).
  • Units were accrued under the plan and will be settled 100% in Veris Residential common stock upon the director’s board service termination or a change in control (F3).
• Filing timeliness: Reported on 2026-04-02 for a 2026-03-31 transaction; appears to be filed within the normal Form 4 reporting window.

Context Phantom stock awards are a form of deferred compensation for directors and typically represent a future right to receive company shares rather than an immediate purchase. Such grants are generally routine compensation and do not necessarily signal the director's near-term trading intent.