Verizon (NYSE: VZ) CEO Daniel Schulman receives phantom stock award

Rhea-AI Filing Summary

Verizon Communications Inc. director and CEO Daniel H. Schulman reported a compensation-related award of phantom stock units under a deferred compensation plan. On July 1, 2026, he acquired 221.905 phantom stock units at an indicative value of $11.99 per unit, each economically linked to a portion of one share of common stock and settled in cash rather than actual shares.

The award is held indirectly through the company’s deferred compensation plan and is tied to 63 underlying shares of common stock. Following this grant, Schulman’s deferred compensation balance reflects a total of 8,302.665 phantom stock units, including amounts accumulated through dividend reinvestment, indicating a routine, non‑market, compensation-related increase in his economic exposure.

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)	221.905	$11.99	$3K

Holdings After Transaction: Phantom Stock (unitized) — 8,302.665 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.

Key Figures

Phantom stock units granted: 221.905 units Indicative unit value: $11.99 per unit Total phantom units after grant: 8,302.665 units +2 more

5 metrics

Phantom stock units granted 221.905 units Grant on July 1, 2026

Indicative unit value $11.99 per unit Phantom stock grant price

Total phantom units after grant 8,302.665 units Deferred compensation balance after transaction

Underlying common shares 63 shares Shares linked to this phantom stock grant

Conversion price $0.00 Phantom stock conversion/exercise price

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment, Grant, award, or other acquisition

4 terms

Phantom Stock (unitized) financial

"security_title: "Phantom Stock (unitized)""

Deferred Compensation Plan financial

"in accordance with the 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""

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FAQ

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

Verizon reported that Daniel H. Schulman received a grant of 221.905 phantom stock units on July 1, 2026. These units are part of a deferred compensation plan and represent a cash-settled economic interest linked to Verizon common stock.

Is Daniel H. Schulman’s Verizon (VZ) phantom stock grant a stock purchase or sale?

The transaction is an award, not a purchase or sale in the open market. Schulman received 221.905 phantom stock units as compensation under a deferred compensation plan, with value tied to Verizon’s common stock but settled in cash.

How many Verizon (VZ) phantom stock units does Daniel H. Schulman hold after this filing?

After the reported award, Daniel H. Schulman’s deferred compensation account reflects 8,302.665 phantom stock units. This total includes the new 221.905-unit grant and additional phantom stock accumulated through dividend reinvestment under the plan.

What does Verizon (VZ) mean by phantom stock in Daniel H. Schulman’s Form 4?

Phantom stock represents units whose value mirrors a portion of a Verizon common share but is settled in cash. Schulman’s phantom stock units become payable upon events he previously established in line with Verizon’s deferred compensation plan terms.

How many underlying Verizon (VZ) common shares are tied to Daniel H. Schulman’s new phantom stock grant?

The reported 221.905 phantom stock units are tied to 63 underlying shares of Verizon common stock. Each phantom unit is economically equivalent to a portion of one share, providing cash-based exposure rather than direct share ownership.

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 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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)
			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)	07/01/2026		A		221.905		(1)	(1)	Common Stock	63	$11.99	8,302.665(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	07/06/2026
	** 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)