Hans Vestberg (VZ) awarded cash-settled Verizon phantom stock units

Q: What did Hans Erik Vestberg report in his latest Form 4 for VZ?

Hans Erik Vestberg reported a grant of 198.052 unitized phantom stock tied to Verizon Communications common stock. These units were credited to his deferred compensation plan as a compensation award, not as an open-market stock purchase or sale.

Q: Does the Verizon phantom stock grant to Vestberg involve real VZ shares?

The grant uses phantom stock units , which are the economic equivalent of a portion of one Verizon common share but are settled in cash . They do not represent actual share ownership or voting rights in Verizon Communications Inc.

Q: When will Vestberg’s Verizon phantom stock units be paid out?

The phantom stock units become payable in cash upon events Vestberg established under the deferred compensation plan . The filing notes that payout depends on these plan elections, rather than a specific fixed calendar date in the disclosure.

Q: Is Vestberg’s Form 4 transaction in Verizon stock a buy or sell?

The Form 4 reports an acquisition coded “A” , described as a grant or award. It is a compensation-related phantom stock grant , not an open-market buy or sell of Verizon Communications Inc. (VZ) common shares on a securities exchange.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Vestberg Hans Erik reported acquisition or exercise transactions in this Form 4 filing.

Verizon Communications director Hans Erik Vestberg received a grant of phantom stock units under a deferred compensation plan. On May 7, 2026, 198.052 unitized phantom stock credits, economically tied to Verizon common stock, were added to his deferred account and will be settled in cash at future payout events.

Following this award and prior accruals, including dividend reinvestment, his deferred compensation plan reflects a total of 228,686.412 phantom stock units, representing compensation rather than an open‑market purchase or sale of Verizon shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vestberg Hans Erik

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	198.052	$13.44	$3K

Holdings After Transaction: Phantom Stock (unitized) — 228,686.412 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: 198.052 units Grant reference price: $13.4400 per unit Total phantom units after grant: 228,686.412 units +2 more

5 metrics

Phantom stock units granted 198.052 units Grant on May 7, 2026 under deferred compensation plan

Grant reference price $13.4400 per unit Price per phantom stock unit for this award

Total phantom units after grant 228,686.412 units Deferred compensation plan balance following transaction

Underlying common stock equivalent 57.0000 shares Underlying Verizon common stock associated with this phantom grant

Conversion price $0.0000 Phantom stock is cash-settled, no exercise price

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment, Grant, award, or other acquisition

4 terms

Phantom Stock (unitized) financial

"Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash."

Deferred Compensation Plan financial

"The shares of phantom stock become payable upon events established by the reporting person in accordance with the 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.

Grant, award, or other acquisition financial

"Transaction code A is described as Grant, award, or other acquisition."

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 12:23 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^*

Vestberg Hans Erik

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

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⁾	05/07/2026		A		198.052		⁽¹⁾	⁽¹⁾	Common Stock	57	$13.44	228,686.412⁽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 Hans Erik Vestberg	05/11/2026
	** 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 Hans Erik Vestberg report in his latest Form 4 for VZ?

Hans Erik Vestberg reported a grant of 198.052 unitized phantom stock tied to Verizon Communications common stock. These units were credited to his deferred compensation plan as a compensation award, not as an open-market stock purchase or sale.

How many Verizon phantom stock units does Vestberg hold after this Form 4?

After the reported grant, Vestberg’s deferred compensation plan reflects 228,686.412 phantom stock units. This total includes the new award and prior phantom stock, some of which was acquired through dividend reinvestment according to the filing footnotes.

Does the Verizon phantom stock grant to Vestberg involve real VZ shares?

The grant uses phantom stock units, which are the economic equivalent of a portion of one Verizon common share but are settled in cash. They do not represent actual share ownership or voting rights in Verizon Communications Inc.

When will Vestberg’s Verizon phantom stock units be paid out?

The phantom stock units become payable in cash upon events Vestberg established under the deferred compensation plan. The filing notes that payout depends on these plan elections, rather than a specific fixed calendar date in the disclosure.

Is Vestberg’s Form 4 transaction in Verizon stock a buy or sell?

The Form 4 reports an acquisition coded “A”, described as a grant or award. It is a compensation-related phantom stock grant, not an open-market buy or sell of Verizon Communications Inc. (VZ) common shares on a securities exchange.