Verizon CEO awarded cash-settled phantom stock units

Verizon Communications Inc. director and CEO Daniel H. Schulman reported an acquisition of phantom stock units through a deferred compensation plan.

Rhea-AI Filing Summary

Verizon Communications Inc. director and CEO Daniel H. Schulman reported an acquisition of phantom stock units through a deferred compensation plan. On 2026-08-13, he was granted 193.377 unitized phantom stock derivatives, economically tied to common stock and settled in cash, bringing his indirect holdings in this plan to 9,033.644 phantom stock units, including amounts acquired through dividend reinvestment. The grant relates to an underlying equivalent of 55 shares of common stock.

Insider Trade Summary

Grant/Award: 193.377 shares

Grant/Award 1 txn

Insider SCHULMAN DANIEL H

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized) F1, F2	193.377	$13.76	$3K

Holdings After Transaction: Phantom Stock (unitized) — 9,033.644 contracts (Indirect, By Deferred Compensation Plan)

Footnotes (2)

1. F1. 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. F2. Includes phantom stock acquired through dividend reinvestment.

Key Figures

Phantom stock units granted: 193.3770 units Phantom stock units after transaction: 9033.6440 units Reference price per unit: $13.7600 +1 more

4 metrics

Phantom stock units granted 193.3770 units Grant/award acquisition on 2026-08-13

Phantom stock units after transaction 9033.6440 units Indirect holdings via deferred compensation plan following grant

Reference price per unit $13.7600 Footnote-qualified price associated with phantom stock units

Underlying common stock equivalent 55.0000 shares Underlying Verizon common stock tied to the phantom stock grant

Key Terms

Phantom Stock (unitized), deferred compensation plan, dividend reinvestment

3 terms

Phantom Stock (unitized) financial

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

deferred compensation plan financial

"events established by the reporting person 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Daniel H. Schulman report in this Form 4 for Verizon (VZ)?

Daniel H. Schulman reported a grant of 193.377 phantom stock units tied to Verizon common stock. These units are held indirectly through a deferred compensation plan and are settled in cash rather than actual shares.

How many phantom stock units does Daniel H. Schulman now hold for Verizon (VZ)?

Following the reported transaction, Daniel H. Schulman holds 9,033.644 phantom stock units indirectly via a deferred compensation plan. This balance includes phantom stock acquired through dividend reinvestment under the plan’s terms.

What is the nature of the phantom stock reported by Daniel H. Schulman at Verizon (VZ)?

The reported phantom stock consists of unitized cash-settled derivatives economically equivalent to portions of Verizon common stock. They are payable in cash upon events established by Schulman under the deferred compensation plan.

Was the Verizon (VZ) Form 4 transaction by Daniel H. Schulman a market purchase or sale of shares?

No. The Form 4 shows a grant/award acquisition of phantom stock units, not a market purchase or sale of Verizon shares. The units are cash-settled and linked economically to common stock.

What underlying Verizon (VZ) common stock amount is tied to Schulman’s phantom stock grant?

The phantom stock grant is tied to an underlying equivalent of 55 shares of Verizon common stock. Each unit represents the economic equivalent of a portion of one share, with settlement occurring in cash.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/14/2026 - 04:02 PM EDT Learn about SEC filing dates

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)
08/13/2026

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)	08/13/2026		A		193.377		(1)	(1)	Common Stock	55	$13.76	9,033.644(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	08/14/2026
	** 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)