Verizon CEO awarded phantom stock units

Verizon Communications director and CEO Daniel H. Schulman reported a compensation-related award of phantom stock units.

Rhea-AI Filing Summary

Verizon Communications director and CEO Daniel H. Schulman reported a compensation-related award of phantom stock units. On May 7, 2026, an indirect acquisition of 198.052 unitized phantom stock interests occurred under a deferred compensation plan at a reference value of $13.44 per unit.

Each phantom stock unit is economically linked to a portion of one Verizon common share but is settled in cash rather than stock. Following this transaction, Schulman’s deferred compensation account reflected 7,476.339 phantom stock units, which include amounts accumulated through dividend reinvestment.

Insider Trade Summary

Grant/Award: 198.052 shares

Grant/Award 1 txn

Insider SCHULMAN DANIEL H

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	198.052	$13.44	$3K

Holdings After Transaction: Phantom Stock (unitized) — 7,476.339 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: 198.052 units Reference price per unit: $13.44 per unit Phantom units after transaction: 7,476.339 units +2 more

5 metrics

Phantom stock units granted 198.052 units Grant on May 7, 2026 under deferred compensation plan

Reference price per unit $13.44 per unit Transaction price for phantom stock units

Phantom units after transaction 7,476.339 units Total phantom stock units in deferred account after award

Underlying common stock equivalent 57 shares Underlying Verizon common stock referenced by phantom award

Exercise price $0.00 Conversion or exercise price for phantom stock units

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

"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.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

FAQ

What insider transaction did Verizon (VZ) CEO Daniel Schulman report?

Daniel Schulman reported an indirect acquisition of 198.052 unitized phantom stock interests on May 7, 2026. The award was granted under a deferred compensation plan and represents cash-settled units economically linked to Verizon common stock rather than an open-market share purchase.

How many phantom stock units does Daniel Schulman hold after this Form 4 for Verizon (VZ)?

After the reported transaction, Daniel Schulman’s deferred compensation account shows 7,476.339 phantom stock units. These units include amounts acquired through the latest grant and additional phantom stock accumulated via dividend reinvestment as described in the Form 4 footnotes.

What is the value reference per phantom stock unit in Daniel Schulman’s Verizon (VZ) Form 4?

The Form 4 lists a transaction price of $13.44 per unit for 198.052 phantom stock units. This figure serves as the reference value for the award within the deferred compensation plan and reflects the economic link to Verizon’s common stock.

Are Daniel Schulman’s Verizon (VZ) phantom stock units settled in stock or cash?

The phantom stock units are settled in cash, not Verizon shares. Each unit is the economic equivalent of a portion of one common share, and payment occurs upon events Schulman has established under the company’s deferred compensation plan, according to the Form 4 footnotes.

Does Daniel Schulman’s Form 4 for Verizon (VZ) show any stock sales or open-market buys?

The Form 4 reports a grant or other acquisition of phantom stock units and no open-market purchases or sales. The transaction is categorized as a derivative award under a deferred compensation plan rather than a direct common stock trade on the market.

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Accepted by SEC EDGAR 05/11/2026 - 12:15 PM 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)
05/07/2026

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)	05/07/2026		A		198.052		(1)	(1)	Common Stock	57	$13.44	7,476.339(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	05/11/2026
	** 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)