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Verizon (NYSE: VZ) legal chief receives new phantom stock compensation

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Verizon Communications executive Vandana Venkatesh, EVP and Chief Legal Officer, reported an acquisition of 95.019 units of phantom stock under a deferred compensation plan. Each phantom share is economically tied to a portion of one share of common stock and is settled in cash, not actual stock.

The award, which is held indirectly through the company’s deferred compensation plan, corresponds to 27 underlying shares of common stock. Following this grant, Venkatesh’s phantom stock balance in the plan totals 56,311.246 units. Footnotes note that balances also include phantom stock from dividend reinvestment, reinforcing this as routine compensation rather than open-market trading.

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Insider Venkatesh Vandana
Role EVP and Chief Legal Officer
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 95.019 $13.44 $1K
Holdings After Transaction: Phantom Stock (unitized) — 56,311.246 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.
Phantom stock granted 95.019 units at $13.4400 Grant/award acquisition on May 7, 2026
Underlying common shares 27.0000 shares Tied to this phantom stock award
Phantom stock balance after 56,311.2460 units Total phantom stock in deferred compensation plan
Conversion price $0.0000 Phantom stock has no exercise price; settled in cash
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.
Grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition""
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*
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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP and Chief Legal Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026		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 (unitized)(1)05/07/2026A95.019 (1) (1)Common Stock27$13.4456,311.246(2)IBy 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 Venkatesh05/11/2026
** 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) EVP Vandana Venkatesh report in this Form 4?

Vandana Venkatesh reported receiving 95.019 units of phantom stock through Verizon’s deferred compensation plan. The award is a routine compensation grant, economically tied to company common stock but settled in cash rather than shares, and increases her phantom stock balance within the plan.

How many Verizon phantom stock units does Vandana Venkatesh hold after this transaction?

After the reported transaction, Vandana Venkatesh holds 56,311.246 phantom stock units in Verizon’s deferred compensation plan. This total includes the new 95.019-unit award and prior phantom stock, some of which was accumulated through dividend reinvestment according to the filing’s explanatory footnotes.

Does this Verizon (VZ) Form 4 show an open-market stock purchase or sale?

The Form 4 does not show any open-market purchase or sale of Verizon common shares. It reports a grant of phantom stock units under a deferred compensation plan, which are cash-settled instruments economically linked to Verizon stock, rather than direct trading in the company’s common stock.

What is phantom stock in the context of Verizon’s deferred compensation plan?

In this filing, phantom stock represents units whose value tracks a portion of a Verizon common share but are settled in cash. They are issued under a deferred compensation plan, becoming payable upon specified events chosen by the reporting person, and can grow through dividend reinvestment over time.

How many underlying Verizon common shares are tied to this phantom stock award?

This phantom stock award corresponds to 27 underlying shares of Verizon common stock, as disclosed in the Form 4. However, the phantom units are not actual shares; they are cash-settled instruments whose value is economically linked to Verizon’s stock performance rather than delivering physical share ownership.

Is Vandana Venkatesh’s ownership in this Form 4 direct or indirect?

The reported interest is categorized as indirect ownership through a deferred compensation plan. The Form 4 notes the nature of ownership as “By Deferred Compensation Plan,” indicating the phantom stock units are held within that plan structure rather than as directly owned Verizon common shares.