Veris Residential (VRE) director gains 109.9 phantom units under board compensation plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Veris Residential director Victor B. Macfarlane received a grant of phantom stock units as director compensation. He was awarded 109.907 phantom stock units on common stock at an assigned value of $18.87 per unit, increasing his directly held phantom stock balance to 26,034.142 units.
The units were credited as a quarterly dividend on his existing phantom stock under Veris Residential, Inc. Deferred Compensation Plan for Directors. These phantom stock units convert into common stock on a one-for-one basis and are to be settled entirely in Veris Residential common shares when his board service ends or upon a change in control of the company.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MACFARLANE VICTOR B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 109.907 | $18.87 | $2K |
Holdings After Transaction:
Phantom Stock Units — 26,034.142 shares (Direct)
Footnotes (1)
- The phantom stock units convert to common stock on a one-for-one basis. The number of phantom stock units awarded is comprised of a quarterly dividend credited on cumulative phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors. The phantom stock units were accrued under the Veris Residential, Inc. Deferred Compensation Plan for Directors and are to be settled 100% in Veris Residential, Inc. common stock upon the termination of the reporting person's service on the Board of Directors of Veris Residential, Inc. or upon a change in control of Veris Residential, Inc.
Key Figures
Phantom units granted: 109.907 units
Grant reference price: $18.87 per unit
Total phantom units after grant: 26,034.142 units
+1 more
4 metrics
Phantom units granted
109.907 units
Phantom Stock Units awarded on 2026-03-31
Grant reference price
$18.87 per unit
Assigned value for phantom stock units
Total phantom units after grant
26,034.142 units
Director’s phantom stock balance following transaction
Underlying common shares
109.907 shares
Common Stock, $0.01 par value, one-for-one conversion
Key Terms
Phantom Stock Units, Deferred Compensation Plan for Directors, change in control
3 terms
Phantom Stock Units financial
"The phantom stock units convert to common stock on a one-for-one basis."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Deferred Compensation Plan for Directors financial
"under the Veris Residential, Inc. Deferred Compensation Plan for Directors."
A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.
change in control financial
"upon a change in control of Veris Residential, Inc."
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
FAQ
What did Veris Residential (VRE) director Victor Macfarlane report on this Form 4?
Victor Macfarlane reported an acquisition of 109.907 phantom stock units tied to Veris Residential common stock. The award reflects a quarterly dividend credit under the company’s Deferred Compensation Plan for Directors and increased his total phantom stock holdings to 26,034.142 units.
What are the key details of the phantom stock units granted to the Veris Residential (VRE) director?
The director received 109.907 phantom stock units valued at $18.87 per unit, each convertible into one share of Veris Residential common stock. The grant comes through the Deferred Compensation Plan for Directors and is settled entirely in common stock at payout.
How and when will Victor Macfarlane’s Veris Residential (VRE) phantom stock units be settled?
The phantom stock units will be settled 100% in Veris Residential common stock. Settlement occurs upon termination of his service on the company’s Board of Directors or upon a change in control of Veris Residential, according to the plan’s terms disclosed.
Why did the Veris Residential (VRE) director receive 109.907 phantom stock units?
The 109.907 phantom stock units represent a quarterly dividend credited on his cumulative phantom stock units under the Veris Residential, Inc. Deferred Compensation Plan for Directors, effectively reinvesting dividend equivalents into additional phantom units rather than cash.
What is Victor Macfarlane’s total phantom stock position in Veris Residential (VRE) after this transaction?
Following the grant, Victor Macfarlane holds 26,034.142 phantom stock units directly. Each phantom unit is designed to convert into one share of Veris Residential common stock when settlement conditions under the Deferred Compensation Plan for Directors are met.