VZ Insider Filing: Kyle Malady Credited with 137.429 Phantom Stock Units

Rhea-AI Filing Summary

Kyle Malady, EVP and Group CEO - VZ Business at Verizon Communications Inc., reported a non-derivative change and a derivative acquisition under the company deferred compensation plan. On 09/11/2025 he was credited with 137.429 units of phantom stock (unitized), each representing an economic portion of a share and payable in cash under the deferred compensation plan. The filing shows 39 underlying common shares associated with the transaction and reports 388,718.361 shares of beneficial ownership following the transaction, held indirectly through the deferred compensation plan. The form was signed by an attorney-in-fact on 09/12/2025.

Positive

• 137.429 phantom stock units were credited to the reporting person, as disclosed in the filing
• The filing clarifies phantom stock units are cash-settled and include dividend reinvestment
• 388,718.361 shares are reported as beneficially owned indirectly following the transaction

Negative

• None.

Insights

Financial Analyst

TL;DR: Executive received 137.429 phantom stock units settled in cash, increasing indirect beneficial ownership to 388,718.361 shares.

The Form 4 discloses a routine deferred compensation credit rather than an open-market purchase or sale. The 137.429 phantom stock units are described as economic equivalents payable in cash and include dividend reinvestment. The filing reports 39 underlying common shares tied to the phantom units and a total indirect beneficial ownership of 388,718.361 shares following the transaction. No purchase price or cash settlement date is provided; the entry is coded as an acquisition under the issuer's deferred compensation arrangements.

Corporate Governance Expert

TL;DR: Disclosure reflects compensation-related credit to an executive via the company’s deferred compensation plan, reported under Section 16 rules.

The document identifies Kyle Malady as an officer and reports the grant/accrual of phantom stock units, with an explanation that units are cash-settled and payable per the plan. The filing notes inclusion of dividend reinvestment in the aggregate beneficial ownership figure. Signature by an attorney-in-fact is shown, and no amendments or corrective statements are indicated. The disclosure meets Section 16 reporting format for derivative and non-derivative columns as presented.

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
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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^*

Malady Kyle

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Group CEO-VZ Business

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

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)	09/11/2025		A		137.429		(1)	(1)	Common Stock	39	$12.59	388,718.361(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 Kyle Malady	09/12/2025
	** 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 transaction did Kyle Malady report on Form 4 for VZ?

The Form 4 reports an acquisition of 137.429 phantom stock units under Verizon’s deferred compensation plan on 09/11/2025.

How are the phantom stock units settled according to the filing?

The filing states each phantom stock unit is the economic equivalent of a portion of a common share and is settled in cash per the deferred compensation plan.

How many shares does the reporting person beneficially own after the reported transaction?

The Form 4 reports 388,718.361 shares of beneficial ownership following the transaction, held indirectly through the deferred compensation plan.

Does the Form 4 show a cash price or settlement date for the phantom units?

No cash settlement price or specific payout date for the phantom units is provided in the filing; the units are described as payable under plan events.

Who signed the Form 4 and when?

The form was signed by Evgeniya Berezkina, Attorney-in-fact for Kyle Malady on 09/12/2025.