Verizon (VZ) CEO Daniel Schulman gains cash-settled phantom stock units

Rhea-AI Filing Summary

Verizon Communications director and CEO Daniel H. Schulman reported a compensation-related acquisition of phantom stock units through a deferred compensation plan. He was granted 184.325 unitized phantom stock derivatives, economically tied to 53 shares of Verizon common stock and settled in cash rather than actual shares.

Following this grant, his indirect holdings in the deferred compensation plan total 6,599.829 phantom stock units. The holdings also include phantom stock accumulated through dividend reinvestment, making this a routine, non-market transaction rather than an open-market stock purchase or sale.

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)	184.325	$14.44	$3K

Holdings After Transaction: Phantom Stock (unitized) — 6,599.829 shares (Indirect, By Deferred Compensation Plan)

Footnotes (1)

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.

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)
03/12/2026

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)	03/12/2026		A		184.325		(1)	(1)	Common Stock	53	$14.44	6,599.829(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 Daniel H. Schulman	03/13/2026
	** 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.

FAQ

What insider transaction did Verizon (VZ) report for Daniel H. Schulman?

Verizon reported that Daniel H. Schulman acquired 184.325 phantom stock units through a deferred compensation plan. These units are tied economically to 53 shares of Verizon common stock and are settled in cash, reflecting a compensation-related award rather than an open-market trade.

Is Daniel H. Schulman’s latest Verizon (VZ) Form 4 a stock purchase or sale?

The Form 4 does not show a stock purchase or sale in the market. Instead, Schulman received a grant of phantom stock units under a deferred compensation plan, which are cash-settled and represent compensation rather than a discretionary buy or sell of Verizon shares.

How many Verizon-related phantom stock units does Daniel H. Schulman now hold?

After the reported grant, Daniel H. Schulman indirectly holds 6,599.829 phantom stock units through a deferred compensation plan. These units track the value of Verizon common stock and include amounts accumulated via dividend reinvestment, but they are ultimately settled in cash, not stock.

What does the phantom stock grant to Daniel H. Schulman represent for Verizon (VZ) investors?

The phantom stock grant represents deferred, cash-settled compensation tied to Verizon’s share value, not new shares issued. It aligns Schulman’s economic interests with Verizon’s stock performance but does not directly change share count, trading volume, or indicate an open-market bullish or bearish signal.

How many underlying Verizon (VZ) shares are linked to Schulman’s new phantom stock units?

The 184.325 phantom stock units reported are linked to 53 underlying shares of Verizon common stock. Each phantom unit reflects the economic value of a portion of a share, with payout occurring in cash according to the terms of the deferred compensation plan.