Verizon (NYSE: VZ) exec adds phantom stock in deferred cash plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Verizon Communications executive Kyle Malady reported a routine compensation-related award of phantom stock units. On May 7, 2026, he acquired 129.363 phantom stock units at an indicated value of $13.44 per unit through the company’s deferred compensation plan.

Each phantom stock unit is economically tied to a portion of one share of Verizon common stock but is settled in cash rather than actual shares. The award corresponds to 37 underlying shares of common stock and brings his deferred phantom stock balance to 417,016.011 units, all held indirectly through the deferred compensation plan and including units accumulated via dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Malady Kyle

Role EVP and Group CEO-VZ Business

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	129.363	$13.44	$2K

Holdings After Transaction: Phantom Stock (unitized) — 417,016.011 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 units granted: 129.363 units Unit value: $13.44 per unit Total phantom units after grant: 417,016.011 units +1 more

4 metrics

Phantom units granted 129.363 units Phantom stock award on May 7, 2026

Unit value $13.44 per unit Indicated value for phantom stock grant

Total phantom units after grant 417,016.011 units Deferred compensation phantom stock balance after transaction

Underlying common shares 37 shares Common stock equivalent linked to new phantom units

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, economic equivalent, dividend reinvestment

4 terms

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.

economic equivalent financial

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

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.

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 12:16 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^*

Malady Kyle

(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)

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

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		129.363		⁽¹⁾	⁽¹⁾	Common Stock	37	$13.44	417,016.011⁽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	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 insider transaction did Verizon (VZ) report for Kyle Malady?

Verizon reported that executive Kyle Malady received a routine grant of 129.363 phantom stock units on May 7, 2026. These units are part of a deferred compensation plan and are economically linked to Verizon common stock but paid in cash.

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

After the May 7, 2026 grant, Kyle Malady holds 417,016.011 phantom stock units. These units are credited under Verizon’s deferred compensation plan and reflect both new awards and additional units acquired through dividend reinvestment.

What is the value per phantom stock unit in Kyle Malady’s Verizon grant?

The reported award values each phantom stock unit at $13.44. This value is used for crediting the 129.363 new units under Verizon’s deferred compensation plan, which are economically linked to a portion of one Verizon common share but settled in cash.

Does Kyle Malady’s Verizon phantom stock grant involve actual Verizon shares?

The phantom stock grant does not involve issuing actual Verizon shares. Each unit is the economic equivalent of part of one share of Verizon common stock but is settled entirely in cash under the deferred compensation plan rules.

How many underlying Verizon common shares are tied to Kyle Malady’s new phantom units?

The 129.363 phantom stock units granted to Kyle Malady correspond to 37 underlying shares of Verizon common stock. This linkage is used for economic equivalence, while payout ultimately occurs in cash rather than stock delivery.