Verizon (VZ) Chief Legal Officer receives new cash-settled phantom stock award

Rhea-AI Filing Summary

Verizon Communications executive Vandana Venkatesh reported a compensation-related award of phantom stock units tied to Verizon common stock. She acquired 99.684 unitized phantom stock awards at an economic reference value of $12.81 per unit through a deferred compensation plan, bringing her total phantom stock holdings in the plan to 56,503.640 units. Each phantom stock unit represents the economic equivalent of a portion of one Verizon common share, is settled in cash rather than stock, and becomes payable upon events she has established under the deferred compensation plan. The total includes phantom stock accumulated through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Venkatesh Vandana

Role EVP and Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	99.684	$12.81	$1K

Holdings After Transaction: Phantom Stock (unitized) — 56,503.64 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: 99.684 units Reference value per unit: $12.81 per unit Total phantom units after award: 56,503.640 units +2 more

5 metrics

Phantom stock units granted 99.684 units Award on 2026-06-04

Reference value per unit $12.81 per unit Phantom stock economic value

Total phantom units after award 56,503.640 units Deferred Compensation Plan balance

Underlying common stock equivalent 28.000 shares Underlying security shares referenced

Conversion price $0.00 Phantom stock conversion/exercise price

Key Terms

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

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.

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.

economic equivalent financial

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

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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^*

Venkatesh Vandana

(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 Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

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)	06/04/2026		A		99.684		(1)	(1)	Common Stock	28	$12.81	56,503.64(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 Vandana Venkatesh	06/05/2026
	** 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) report for Vandana Venkatesh?

Verizon reported that executive Vandana Venkatesh acquired 99.684 unitized phantom stock awards through a deferred compensation plan. These cash-settled phantom units track Verizon’s common stock value and increase her total phantom stock holdings within the plan to 56,503.640 units.

Is Vandana Venkatesh’s Form 4 transaction in Verizon (VZ) stock a market buy or sell?

The Form 4 shows a compensation-related acquisition, not a market purchase or sale. Venkatesh received 99.684 phantom stock units as a grant within a deferred compensation plan, with value tied to Verizon shares but settled in cash instead of stock.

How are Vandana Venkatesh’s Verizon (VZ) phantom stock units settled?

Each phantom stock unit is economically linked to a portion of one Verizon common share but is settled entirely in cash. Payment occurs upon events Venkatesh has established under the company’s deferred compensation plan, rather than through delivery of actual Verizon shares.

What is Vandana Venkatesh’s total phantom stock position in Verizon’s plan after this Form 4?

After the reported award, Vandana Venkatesh holds 56,503.640 phantom stock units in Verizon’s deferred compensation plan. This total reflects the newly granted 99.684 units and additional phantom stock accumulated over time, including amounts acquired through dividend reinvestment within the plan.

Does Vandana Venkatesh’s phantom stock transaction affect Verizon (VZ) common shares outstanding?

The phantom stock award does not directly change Verizon’s common shares outstanding. These are cash-settled phantom units whose value is based on Verizon’s share price. They function as deferred compensation rather than an issuance or purchase of actual Verizon common stock in the market.