Verizon EVP awarded phantom stock units

Verizon Communications EVP and Group CEO-VZ Business Kyle Malady reported a compensation-related award of phantom stock units.

Rhea-AI Filing Summary

Verizon Communications EVP and Group CEO-VZ Business Kyle Malady reported a compensation-related award of phantom stock units. On this Form 4, he acquired 129.025 unitized phantom stock at a reference value of $13.47 per unit through a deferred compensation plan.

Each phantom stock share is the economic equivalent of 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 increases his indirect deferred-compensation holdings to 410,898.178 phantom stock units, including amounts accumulated through dividend reinvestment. The units become payable upon events he established under the plan.

Insider Trade Summary

Grant/Award: 129.025 shares

Grant/Award 1 txn

Insider Malady Kyle

Role EVP and Group CEO-VZ Business

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	129.025	$13.47	$2K

Holdings After Transaction: Phantom Stock (unitized) — 410,898.178 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: 129.025 units Reference value per phantom unit: $13.47 per unit Total phantom units after transaction: 410,898.178 units +1 more

4 metrics

Phantom stock units granted 129.025 units Award of unitized phantom stock on transaction date

Reference value per phantom unit <money>$13.47</money> per unit Transaction price per unit for phantom stock grant

Total phantom units after transaction 410,898.178 units Indirect holdings in deferred compensation plan following award

Underlying common stock shares 37 shares Underlying Verizon common stock tied to phantom stock award

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.

FAQ

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

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

Kyle Malady reported receiving 129.025 unitized phantom stock shares as a compensation award. The units were credited at $13.47 per unit into a deferred compensation plan and increase his total phantom stock balance to 410,898.178 units, according to the Form 4.

Is the Kyle Malady Form 4 for Verizon (VZ) a stock purchase or sale?

The Form 4 shows a grant or award acquisition, not an open-market buy or sale. Malady received phantom stock units under a deferred compensation plan, with each unit economically linked to Verizon common stock but settled in cash, rather than trading shares in the market.

How many phantom stock units does Kyle Malady now hold in Verizon (VZ)?

After this transaction, Malady holds 410,898.178 phantom stock units indirectly through a deferred compensation plan. This total includes the new 129.025-unit award and additional phantom stock previously accumulated, including units acquired through dividend reinvestment as noted in the footnotes.

What does phantom stock mean in the Verizon (VZ) Form 4 filing?

The filing explains that each share of phantom stock is the economic equivalent of a portion of one Verizon common share. These phantom units are settled in cash, not stock, and become payable upon specific events Malady established in accordance with the company’s deferred compensation plan.

How many underlying Verizon (VZ) common shares are tied to the phantom stock award?

The reported phantom stock award is tied to 37 underlying shares of Verizon common stock. The Form 4 identifies this as the underlying security for the 129.025 unitized phantom stock shares credited to Malady’s deferred compensation account on the reported transaction date.

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

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Accepted by SEC EDGAR 04/24/2026 - 02:26 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^*

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)
04/23/2026

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)	04/23/2026		A		129.025		(1)	(1)	Common Stock	37	$13.47	410,898.178(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	04/24/2026
	** 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)