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Verizon (VZ) director Bertolini receives 5,062 phantom stock units in deferred plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Bertolini Mark T reported acquisition or exercise transactions in this Form 4 filing.

Verizon Communications Inc. director Mark T. Bertolini received a grant of 5,062 phantom stock units tied to Verizon common stock. Each phantom stock unit is the economic equivalent of one share of common stock but will be settled in cash rather than actual shares.

The phantom stock is held indirectly through a deferred compensation plan and becomes payable after Bertolini’s service as a director ends. Following this award and related dividend reinvestment, his deferred phantom stock balance stands at 66,759 units.

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Insider Bertolini Mark T
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock 5,062 $0.00 --
Holdings After Transaction: Phantom Stock — 66,759 shares (Indirect, By Deferred Compensation Plan)
Footnotes (1)
  1. Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock become payable following the reporting person's termination of service as a director. Includes phantom stock acquired through dividend reinvestment.
Phantom stock granted 5,062 units Grant/award acquisition on 2026-04-01
Phantom stock after transaction 66,759 units Total phantom stock balance following transaction
Transaction price per unit $0.0000 per unit Compensation grant, no purchase price paid
Underlying security 5,062 shares common stock equivalent Each phantom stock unit equals one common share economically
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
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.
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
settled in cash financial
"Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Bertolini Mark T
(Last)(First)(Middle)
VERIZON COMMUNICATIONS INC.
1095 AVENUE OF THE AMERICAS
(Street)
NEW YORK 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock(1)04/01/2026A5,062 (1) (1)Common Stock5,062$066,759(2)IBy Deferred Compensation Plan
Explanation of Responses:
1. Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock become payable following the reporting person's termination of service as a director.
2. Includes phantom stock acquired through dividend reinvestment.
Remarks:
Exhibit 24 - Power of Attorney.
Evgeniya Berezkina, Attorney-in-fact for Mark T. Bertolini04/02/2026
** Signature of Reporting PersonDate
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) director Mark T. Bertolini report in this Form 4?

Mark T. Bertolini reported receiving 5,062 phantom stock units linked to Verizon common stock. These units are part of a deferred compensation arrangement, increasing his total phantom stock holdings to 66,759 units, and are payable in cash after his board service ends.

What is the nature of the phantom stock awarded to the Verizon (VZ) director?

The phantom stock is an economic equivalent of Verizon common shares but is settled in cash. It tracks the value of the stock, giving similar financial exposure without issuing actual shares, and is structured within a deferred compensation plan for the director.

How many phantom stock units does Mark T. Bertolini hold after this Verizon (VZ) transaction?

After this grant, Mark T. Bertolini’s deferred phantom stock balance totals 66,759 units. This figure includes the newly awarded 5,062 units and additional phantom stock accumulated through dividend reinvestment within the deferred compensation plan.

When will the Verizon (VZ) phantom stock granted to the director be paid out?

The phantom stock units become payable after Mark T. Bertolini’s termination of service as a director. At that time, Verizon will settle the phantom stock position in cash, based on the economic value linked to the company’s common stock.

Is this Verizon (VZ) Form 4 transaction a market purchase or sale of common stock?

No, this filing reports a grant of phantom stock units, not an open-market trade in Verizon common shares. The award is a compensation-related acquisition within a deferred compensation plan and will be settled in cash rather than through share purchases or sales.

How is the Verizon (VZ) phantom stock held by Mark T. Bertolini classified in the filing?

The phantom stock is reported as indirectly owned, held "By Deferred Compensation Plan." This indicates the position is maintained within a plan vehicle on the director’s behalf rather than as directly owned Verizon common stock in a brokerage account.