Verizon (NYSE: VZ) amends $30M 2026 performance stock unit grant

Rhea-AI Filing Summary

Verizon Communications Inc. filed a report describing an executive compensation change for Daniel H. Schulman. On January 8, 2026, the Human Resources Committee of the Board approved an amendment to the letter agreement originally entered into on October 13, 2025. The amendment updates the terms of a $30 million target value Verizon performance stock unit (PSU) award that was scheduled to be granted to Mr. Schulman in 2026 and prior to January 15, 2026.

The filing notes that only the PSU award terms are being revised, while all other provisions in Verizon’s prior letter agreement with Mr. Schulman remain unchanged and in full force and effect.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report: January 8, 2026

(Date of earliest event reported)

VERIZON COMMUNICATIONS INC.

(Exact name of registrant as specified in its charter)

Delaware		1-8606		23-2259884
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

1095 Avenue of the Americas
New York, New York				10036
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code: (212) 395-1000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Stock, par value $0.10		VZ		New York Stock Exchange
Common Stock, par value $0.10		VZ		The Nasdaq Global Select Market
1.375% Notes due 2026		VZ 26B		New York Stock Exchange
0.875% Notes due 2027		VZ 27E		New York Stock Exchange
1.375% Notes due 2028		VZ 28		New York Stock Exchange
1.125% Notes due 2028		VZ 28A		New York Stock Exchange
2.350% Fixed Rate Notes due 2028		VZ 28C		New York Stock Exchange
1.875% Notes due 2029		VZ 29B		New York Stock Exchange
0.375% Notes due 2029		VZ 29D		New York Stock Exchange
1.250% Notes due 2030		VZ 30		New York Stock Exchange
1.875% Notes due 2030		VZ 30A		New York Stock Exchange
4.250% Notes due 2030		VZ 30D		New York Stock Exchange
2.625% Notes due 2031		VZ 31		New York Stock Exchange
2.500% Notes due 2031		VZ 31A		New York Stock Exchange
3.000% Fixed Rate Notes due 2031		VZ 31D		New York Stock Exchange
0.875% Notes due 2032		VZ 32		New York Stock Exchange
0.750% Notes due 2032		VZ 32A		New York Stock Exchange
3.500% Notes due 2032		VZ 32B		New York Stock Exchange
3.250% Notes due 2032		VZ 32C		New York Stock Exchange
1.300% Notes due 2033		VZ 33B		New York Stock Exchange
4.75% Notes due 2034		VZ 34		New York Stock Exchange
4.750% Notes due 2034		VZ 34C		New York Stock Exchange
3.125% Notes due 2035		VZ 35		New York Stock Exchange
1.125% Notes due 2035		VZ 35A		New York Stock Exchange
3.375% Notes due 2036		VZ 36A		New York Stock Exchange
3.750% Notes due 2036		VZ 36B		New York Stock Exchange
3.750% Notes due 2037		VZ 37B		New York Stock Exchange
2.875% Notes due 2038		VZ 38B		New York Stock Exchange
1.875% Notes due 2038		VZ 38C		New York Stock Exchange
1.500% Notes due 2039		VZ 39C		New York Stock Exchange
3.50% Fixed Rate Notes due 2039		VZ 39D		New York Stock Exchange
1.850% Notes due 2040		VZ 40		New York Stock Exchange
3.850% Fixed Rate Notes due 2041		VZ 41C		New York Stock Exchange
3.9962% Fixed-to-Fixed Rate Junior Subordinated Notes due 2056		VZ 56		New York Stock Exchange
5.7420% Fixed-to-Fixed Rate Junior Subordinated Notes due 2056		VZ 56A		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 8, 2026, the Human Resources Committee (“Committee”) of the Verizon Board of Directors approved an amendment to the letter agreement entered into between Verizon and Daniel H. Schulman on October 13, 2025, as previously described in Verizon’s Amendment No. 1 to its Current Report on Form 8-K dated October 6, 2025. The amendment sets forth updated terms for the $30 million target value Verizon performance stock unit (“PSU”) award originally scheduled to be made to Mr. Schulman in 2026 and prior to January 15, 2026. Pursuant to the amendment, Verizon agreed to grant such PSU award pursuant to the following terms:

• the award will be granted in the first quarter of 2026 on the grant date on which the Committee makes its annual long-term incentive equity grants to executive officers of Verizon;

• the award will vest, to the extent earned, on December 31, 2027, generally subject to Mr. Schulman’s continued employment through such date;

• 50% of the award will vest based on Verizon’s achievement of adjusted earnings per share targets to be determined by the Committee over a performance period ending on December 31, 2027; and

• 50% of the award will vest based on Verizon’s total shareholder return relative to a comparator group to be determined by the Committee at the time of grant. This portion of the PSU grant is divided into two equal tranches, which may be earned at a range of 0-200% of the target number of PSUs granted. For the first tranche, such achievement is measured over a performance period beginning October 17, 2025 and ending December 31, 2026 and for the second tranche, such achievement is measured over a performance period beginning October 17, 2025 and ending December 31, 2027.

All other terms of Verizon’s letter agreement with Mr. Schulman remain unchanged and in full force and effect.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				VERIZON COMMUNICATIONS INC.
Date: January 12, 2026				By		/s/ William L. Horton, Jr.
						William L. Horton, Jr.
						Senior Vice President, Deputy General Counsel and Corporate Secretary

FAQ

What executive compensation change did Verizon (VZ) report on January 8, 2026?

Verizon reported that its Human Resources Committee approved an amendment to the letter agreement with Daniel H. Schulman, updating the terms of a planned $30 million target value performance stock unit (PSU) award scheduled to be granted in 2026.

How large is the Verizon PSU award referenced for Daniel H. Schulman?

The amendment relates to a Verizon performance stock unit (PSU) award with a $30 million target value that was originally scheduled to be made to Daniel H. Schulman in 2026 and prior to January 15, 2026.

Did Verizon change the entire letter agreement with Daniel H. Schulman?

No. The report states that only the terms for the $30 million target value PSU award were updated. All other terms of Verizon’s October 13, 2025 letter agreement with Mr. Schulman remain unchanged and in full force and effect.

Which Verizon board committee approved the amendment to Daniel H. Schulman’s award?

The Human Resources Committee of the Verizon Board of Directors approved the amendment to the letter agreement on January 8, 2026.

What time period does the updated Verizon PSU award for Daniel H. Schulman relate to?

The updated terms apply to a Verizon performance stock unit (PSU) award with a $30 million target value that was originally scheduled to be granted in 2026 and prior to January 15, 2026.

Does this Verizon filing involve new debt or equity securities being issued?

The filing primarily addresses an executive compensation amendment for a planned performance stock unit award to Daniel H. Schulman. It does not describe a new public issuance of debt or equity securities.