Verizon (VZ) CEO Daniel Schulman gains 4,224 cash-settled phantom stock units

Rhea-AI Filing Summary

Verizon Communications director and CEO Daniel H. Schulman reported an acquisition of 4,223.943 phantom stock (unitized) units credited under a deferred compensation plan at an economic reference price of $13.95 per unit. These cash-settled phantom stock units are economically tied to Verizon common stock and generally pay out upon events elected under the plan. Following this grant and prior dividend-reinvestment credits, Schulman now indirectly holds 6,415.504 phantom stock units through the deferred compensation plan.

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

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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^*

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)
02/26/2026

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)	02/26/2026		A		4,223.943		(1)	(1)	Common Stock	1,205	$13.95	6,415.504(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	02/27/2026
	** 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 disclosed that Daniel H. Schulman received 4,223.943 phantom stock (unitized) units under a deferred compensation plan. These units are cash-settled and economically linked to Verizon common stock, increasing his indirect phantom stock holdings to 6,415.504 units after the transaction.

Is Daniel H. Schulman buying or selling Verizon (VZ) common shares in this Form 4?

The Form 4 shows an acquisition of phantom stock units, not open-market trading in Verizon common shares. These units are cash-settled awards within a deferred compensation plan, economically referencing Verizon stock rather than representing direct ownership of common shares.

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

After the reported award, Daniel H. Schulman indirectly holds 6,415.504 phantom stock (unitized) units tied to Verizon through a deferred compensation plan. This total includes both the newly awarded 4,223.943 units and additional units accumulated through dividend reinvestment under the plan.

What are the key terms of the phantom stock units reported for Verizon (VZ)?

Each phantom stock unit is economically equivalent to a portion of one Verizon common share and is settled in cash. The units become payable upon events chosen by the reporting person in line with the deferred compensation plan’s rules, rather than being freely traded securities.

How is Daniel H. Schulman’s ownership of these Verizon (VZ) phantom units classified?

The ownership of the phantom stock units is reported as indirect, held “By Deferred Compensation Plan.” This indicates the units are credited within a plan account rather than as directly held Verizon common shares in a brokerage or personal ownership account.

Does the Verizon (VZ) Form 4 mention dividend reinvestment for phantom stock?

Yes. A footnote states that the total includes phantom stock acquired through dividend reinvestment. This means dividends linked to Verizon stock within the plan are automatically converted into additional phantom stock units, increasing the reported phantom unit balance over time.