Verizon (NYSE: VZ) business chief gets new phantom stock grant

Rhea-AI Filing Summary

Verizon Communications executive Kyle Malady, EVP and Group CEO of Verizon Business, received an acquisition of 126.219 unitized phantom stock units on May 21, 2026 through a deferred compensation plan. Each phantom share tracks a portion of one common share and is settled in cash, bringing his deferred phantom stock balance to 417,142.230 units, including amounts 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)	126.219	$13.77	$2K

Holdings After Transaction: Phantom Stock (unitized) — 417,142.23 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: 126.219 units Phantom stock balance after transaction: 417,142.230 units Phantom stock unit price reference: $13.7700 per unit +1 more

4 metrics

Phantom stock units granted 126.219 units Grant on May 21, 2026

Phantom stock balance after transaction 417,142.230 units Held via deferred compensation plan after grant

Phantom stock unit price reference $13.7700 per unit Valuation used for this phantom stock grant

Underlying common stock equivalent 36.000 shares Underlying Verizon common stock for the phantom award

Key Terms

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

3 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.

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 →

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 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)
05/21/2026

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)	05/21/2026		A		126.219		(1)	(1)	Common Stock	36	$13.77	417,142.23(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	05/26/2026
	** 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)

FAQ

What insider transaction did Verizon (VZ) executive Kyle Malady report?

Kyle Malady reported receiving 126.219 unitized phantom stock units. The grant was made under a deferred compensation plan and represents cash-settled value linked to Verizon common stock performance rather than actual share ownership.

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

After the transaction, Kyle Malady holds 417,142.230 phantom stock units. This balance, held through a deferred compensation plan, includes units accumulated via dividend reinvestment and reflects cash-settled economic exposure to Verizon’s common stock.

What is the economic link between Malady’s phantom stock and Verizon (VZ) common shares?

Each phantom stock unit is economically equivalent to a portion of one Verizon common share. The units track the stock’s value and dividends but are settled in cash, providing synthetic equity exposure without voting or direct share ownership.

Is Kyle Malady’s phantom stock ownership direct or indirect?

The phantom stock is reported as indirect ownership through a deferred compensation plan. This means the units are credited within the plan account rather than held as directly owned Verizon shares in a traditional brokerage or share registration.

Does this Form 4 show Kyle Malady buying or selling Verizon shares?

The Form 4 shows an acquisition of phantom stock units, not open-market share purchases or sales. It reflects a grant or award within a deferred compensation arrangement tied to Verizon’s common stock value and dividend reinvestment.