Verizon CEO Daniel H. Schulman adds phantom stock via deferred plan

Rhea-AI Filing Summary

Verizon Communications Inc. reported an insider equity transaction by CEO and director Daniel H. Schulman on a Form 4. On 11/20/2025, he acquired 228.077 units of phantom stock at a price of $11.64 per unit under a deferred compensation plan. These derivative securities reference 65 shares of Verizon common stock and are settled in cash rather than stock.

Following this transaction, Schulman beneficially owns 824.474 phantom stock units indirectly through the Deferred Compensation Plan. Each phantom stock unit is described as the economic equivalent of a portion of one share of Verizon common stock, with payment timing tied to events established by Schulman under the plan.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SCHULMAN DANIEL H

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	228.077	$11.64	$3K

Holdings After Transaction: Phantom Stock (unitized) — 824.474 shares (Indirect, By Deferred Compensation Plan)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SCHULMAN DANIEL H

(Last) (First) (Middle)

VERIZON COMMUNICATIONS INC.

1095 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VERIZON COMMUNICATIONS INC [ VZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock (unitized)	(1)	11/20/2025		A		228.077		(1)	(1)	Common Stock	65	$11.64	824.474	I	By Deferred Compensation Plan

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash. The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Remarks:

	Evgeniya Berezkina, Attorney-in-fact for Daniel H. Schulman	11/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Verizon (VZ) report on this Form 4?

The filing reports that CEO and director Daniel H. Schulman acquired 228.077 phantom stock units on 11/20/2025 under a deferred compensation plan.

How many Verizon phantom stock units does Daniel H. Schulman now beneficially own?

After the reported transaction, Daniel H. Schulman beneficially owns 824.474 phantom stock units, held indirectly through a Deferred Compensation Plan.

What are phantom stock units in the Verizon (VZ) deferred compensation plan?

Each phantom stock unit is described as the economic equivalent of a portion of one share of Verizon common stock and is settled in cash under the deferred compensation plan.

What common stock does the reported Verizon phantom stock transaction reference?

The phantom stock units acquired on 11/20/2025 reference 65 shares of Verizon common stock as the underlying security.

At what price were the Verizon phantom stock units recorded in this Form 4?

The Form 4 shows the 228.077 phantom stock units at a price of $11.64 per unit in the reported transaction.

Is Daniel H. Schulman’s Verizon phantom stock ownership direct or indirect?

The filing lists his ownership of 824.474 phantom stock units as indirect (I), held by Deferred Compensation Plan.