Stillwell Mary-Lee 4
4 · VERIZON COMMUNICATIONS INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Verizon (VZ) SVP Mary-Lee Stillwell Converts RSUs; Shares Withheld
What Happened
Mary-Lee Stillwell, Senior Vice President and Controller of Verizon Communications (VZ), had restricted stock units (RSUs) convert into common shares on February 27, 2026. A total of 28,361 RSUs converted to 28,361 shares. To satisfy tax withholding, 12,093 shares were surrendered (disposed) at a reported per-share value of $50.14, representing $606,343 in tax withholding. The net shares delivered to Stillwell were 16,268 shares (28,361 converted minus 12,093 withheld). These transactions reflect unit vesting and tax-withholding, not an open-market sell or a purchase.
Key Details
- Transaction date: February 27, 2026. Form filed March 3, 2026 (timely).
- Conversion totals: 9,448 + 9,915 + 8,998 = 28,361 RSUs converted to shares.
- Shares withheld (disposed) for taxes: 3,880 + 4,306 + 3,907 = 12,093 shares at $50.14/share = $606,343.
- Net shares received: 16,268.
- Footnotes: F1 = each RSU = right to one common share on payment; F2–F4 describe three RSU tranches that vest in three equal annual installments beginning 3/1/2024, 3/1/2025, and 3/1/2026 respectively.
- Transaction codes: M = exercise/conversion of a derivative (conversion of RSUs to shares); F = payment of exercise price or tax liability (here, share withholding to cover taxes).
- Shares owned after the transaction are not listed in the provided excerpt of the filing.
Context
This was a routine RSU vesting and tax-withholding event (cashless share surrender) rather than an open-market sale or a purchase. Withholding shares to cover taxes is common and does not necessarily signal a change in the insider’s view of the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-27+9,448→ 45,531 total - Tax Payment
Common Stock
2026-02-27$50.14/sh−3,880$194,543→ 41,651 total - Exercise/Conversion
Common Stock
[F1]2026-02-27+9,915→ 51,566 total - Tax Payment
Common Stock
2026-02-27$50.14/sh−4,306$215,903→ 47,260 total - Exercise/Conversion
Common Stock
[F1]2026-02-27+8,998→ 56,258 total - Tax Payment
Common Stock
2026-02-27$50.14/sh−3,907$195,897→ 52,351 total - Exercise/Conversion
Restricted Stock Units - 2023 Award
[F1][F2]2026-02-27−9,448→ 0 total→ Common Stock (9,448 underlying) - Exercise/Conversion
Restricted Stock Units - 2024 Award
[F1][F3]2026-02-27−9,915→ 9,915 total→ Common Stock (9,915 underlying) - Exercise/Conversion
Restricted Stock Units - 2025 Award
[F1][F4]2026-02-27−8,998→ 17,996 total→ Common Stock (8,998 underlying)
Footnotes (4)
- [F1]Each 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.
- [F2]Subject to the terms of the RSU Agreement, the RSUs vest in three equal annual installments beginning on March 1, 2024.
- [F3]Subject to the terms of the RSU Agreement, the RSUs vest in three equal annual installments beginning on March 1, 2025.
- [F4]Subject to the terms of the RSU Agreement, the RSUs vest in three equal annual installments beginning on March 1, 2026.