Verizon (NYSE: VZ) legal chief awarded cash-settled phantom stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC executive Venkatesh Vandana, EVP and Chief Legal Officer, acquired 94.771 units of phantom stock (unitized) as a grant under a deferred compensation plan. Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash rather than shares.

Following this award and related dividend reinvestments, the executive now holds a total of 55,409.807 phantom stock units indirectly through the deferred compensation plan, economically linked to 27 underlying shares of Verizon common stock for this specific grant.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Venkatesh Vandana

Role EVP and Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	94.771	$13.47	$1K

Holdings After Transaction: Phantom Stock (unitized) — 55,409.807 shares (Indirect, By Deferred Compensation Plan)

Footnotes (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. Includes phantom stock acquired through dividend reinvestment.

Key Figures

Phantom stock units granted: 94.7710 units Grant valuation per unit: $13.4700 per unit Phantom stock units after grant: 55,409.8070 units +1 more

4 metrics

Phantom stock units granted 94.7710 units Grant under deferred compensation plan

Grant valuation per unit $13.4700 per unit Reported transaction price for phantom stock

Phantom stock units after grant 55,409.8070 units Total indirect holdings following transaction

Underlying common shares for this grant 27.0000 shares Common stock economically referenced by this award

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment, economic equivalent

4 terms

Phantom Stock (unitized) financial

"security_title": "Phantom Stock (unitized)""

Deferred Compensation Plan financial

"nature_of_ownership": "By Deferred Compensation Plan""

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

dividend reinvestment financial

"Includes phantom stock acquired through dividend reinvestment."

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

economic equivalent financial

"Each share of phantom stock is the economic equivalent of a portion of one share"

Form 4 Insider Transactions: What Each Field Means →

04/24/2026 - 02:33 PM

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^*

Venkatesh Vandana

(Last)

(First)

(Middle)

VERIZON COMMUNICATIONS INC.

1095 AVENUE OF THE AMERICAS

(Street)

NEW YORK

10036

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP and Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock (unitized)	⁽¹⁾	04/23/2026		A		94.771		⁽¹⁾	⁽¹⁾	Common Stock	27	$13.47	55,409.807⁽²⁾	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.

2. Includes phantom stock acquired through dividend reinvestment.

Remarks:

	Evgeniya Berezkina, Attorney-in-fact for Vandana Venkatesh	04/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Verizon (VZ) executive Venkatesh Vandana report in this Form 4?

Venkatesh Vandana reported receiving a grant of 94.771 units of phantom stock under a deferred compensation plan. These units are cash-settled and economically track Verizon common stock, increasing her indirect phantom stock holdings to 55,409.807 units.

How large is the phantom stock award reported for Verizon (VZ)’s Chief Legal Officer?

The award totals 94.771 phantom stock units valued at $13.47 per unit. This grant is part of compensation and is not an open-market purchase or sale of Verizon shares, but a cash-settled award tied to Verizon’s common stock performance.

Does this Verizon (VZ) Form 4 involve buying or selling common stock?

No, the filing shows a grant of phantom stock units, not a market trade in common stock. The phantom stock is settled in cash and represents the economic equivalent of Verizon shares, functioning as deferred, stock-linked compensation.

How many Verizon (VZ) phantom stock units does the executive hold after this transaction?

After the grant, the executive holds 55,409.807 phantom stock units indirectly through a deferred compensation plan. This total includes units acquired through dividend reinvestment, providing cash-settled exposure to Verizon’s common stock performance over time.

What does phantom stock mean in the context of Verizon (VZ) executive compensation?

Phantom stock is a cash-settled award whose value mirrors Verizon common stock. Each unit is the economic equivalent of a portion of one share, paying out in cash upon specified events under the deferred compensation plan rather than delivering actual shares.