Verizon insider granted 89.545 phantom units

Verizon’s chief legal officer reported a routine cash-settled phantom stock accrual under a deferred compensation plan, not an open‑market stock purchase or sale.

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC (symbol: VZ) is the issuer of record for a Form 4 filing submitted to the SEC. Venkatesh Vandana reported acquisition or exercise transactions in this Form 4 filing.

VERIZON COMMUNICATIONS INC (VZ) reported that EVP and Chief Legal Officer Vandana Venkatesh received an indirect award of 89.545 units of unitized phantom stock on September 10, 2026 under a deferred compensation plan. Each phantom stock unit is economically tied to common stock and is settled in cash, with payment timing set under the plan.

Insider Trade Summary

Grant/Award: 89.545 shares

Grant/Award 1 txn

Insider Venkatesh Vandana

Role EVP and Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized) F1, F2	89.545	$14.26	$1K

Holdings After Transaction: Phantom Stock (unitized) — 58,019.508 contracts (Indirect, By Deferred Compensation Plan)

Footnotes (2)

1. F1. 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. F2. Includes phantom stock acquired through dividend reinvestment.

Key Figures

Phantom stock units acquired: 89.545 units Phantom stock value per unit: $14.26 per unit Phantom stock units after transaction: 58,019.508 units +1 more

4 metrics

Phantom stock units acquired 89.545 units Grant on September 10, 2026 under deferred compensation plan

Phantom stock value per unit $14.26 per unit Reported for the September 10, 2026 phantom stock grant

Phantom stock units after transaction 58,019.508 units Indirect holdings in deferred compensation plan after the grant

Underlying common stock equivalent 26 shares Shares of common stock economically referenced by the phantom stock grant

Key Terms

Phantom Stock, Deferred Compensation Plan, dividend reinvestment

3 terms

Phantom Stock financial

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

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

"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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did VZ disclose for Vandana Venkatesh?

Vandana Venkatesh received an indirect award of 89.545 phantom stock units on September 10, 2026, classified as a grant or other acquisition under a deferred compensation plan and not as an open-market stock purchase or sale.

How is the phantom stock for VZ structured in this Form 4?

Each phantom stock unit is the economic equivalent of a portion of one share of Verizon common stock and is settled entirely in cash. The units become payable upon events the reporting person established under the deferred compensation plan.

What is the value per phantom stock unit reported for VZ?

The filing reports a value of $14.26 per phantom stock unit for this award. This figure applies to the 89.545 units granted in the deferred compensation plan transaction on September 10, 2026.

How many phantom stock units does the insider hold after this VZ transaction?

After the September 10, 2026 award, the insider has an indirect balance of 58,019.508 phantom stock units held through a deferred compensation plan. This total includes units acquired through dividend reinvestment.

Does this VZ Form 4 involve a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked, and there is no footnote stating that the phantom stock transaction was made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

Is the VZ phantom stock award held directly by the insider?

No. The Form 4 classifies ownership as indirect, held “By Deferred Compensation Plan.” The phantom stock units are part of the reporting person’s deferred compensation arrangement rather than directly held shares of common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/11/2026 - 03:02 PM Accepted by SEC EDGAR 09/11/2026 - 03:01 PM Learn about SEC filing dates

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 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)
09/10/2026

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)
			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)	09/10/2026		A		89.545		(1)	(1)	Common Stock	26	$14.26	58,019.508(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	09/11/2026
	** 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)