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Verizon (VZ) SVP Stillwell receives cash-settled phantom stock grant

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Verizon Communications senior vice president and controller Mary-Lee Stillwell reported a compensation-related award of derivative securities. On May 7, 2026, she acquired 43.503 unitized phantom stock units under a deferred compensation plan, economically tied to 12 shares of common stock. These phantom units are settled in cash and become payable upon events she established under the plan. Following this award, her indirect holdings in phantom stock through the deferred compensation plan total 16,499.288 units, which also reflect amounts accumulated through dividend reinvestment.

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Insider Stillwell Mary-Lee
Role SVP and Controller
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 43.503 $13.44 $584.68
Holdings After Transaction: Phantom Stock (unitized) — 16,499.288 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.
Phantom stock units granted 43.503 units Grant on May 7, 2026 under deferred compensation plan
Reference price per phantom unit $13.44 per unit Price per unit for the May 7, 2026 grant
Underlying common shares 12 shares Common stock economically linked to granted phantom units
Total phantom units after grant 16,499.288 units Indirect holdings by deferred compensation plan after transaction
Phantom Stock (unitized) financial
"security_title: "Phantom Stock (unitized)""
deferred compensation plan financial
"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.
grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Stillwell Mary-Lee
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP and Controller
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock (unitized)(1)05/07/2026A43.503 (1) (1)Common Stock12$13.4416,499.288(2)IBy 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 Mary-Lee Stillwell05/11/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Verizon (VZ) report for Mary-Lee Stillwell?

Verizon reported that SVP and Controller Mary-Lee Stillwell acquired 43.503 unitized phantom stock units on May 7, 2026. The award is a compensation-related grant under a deferred compensation plan, not an open-market stock purchase or sale.

What is the economic value of the phantom stock units reported by Verizon (VZ)?

Each phantom stock unit is economically equivalent to a portion of one Verizon common share and is settled in cash. The filing shows 43.503 units at a reference price of $13.44 per unit, linked in aggregate to 12 underlying common shares.

How many phantom stock units does the Verizon (VZ) executive hold after this Form 4?

After the May 7, 2026 transaction, Mary-Lee Stillwell holds 16,499.288 phantom stock units indirectly. These units are held through a deferred compensation plan and include amounts accumulated via dividend reinvestment, according to the Form 4 footnotes.

How are Verizon (VZ) phantom stock units under the deferred compensation plan settled?

The phantom stock units are settled in cash rather than shares of common stock. They become payable upon events established by the reporting person in accordance with the deferred compensation plan, providing cash-based exposure to Verizon’s common stock performance.

Is the Verizon (VZ) Form 4 transaction a market buy or sell of common shares?

No, the Form 4 shows a grant of phantom stock units, not a market trade in Verizon common stock. The units are derivative, cash-settled awards under a deferred compensation plan and are classified as a grant or award acquisition.

How is ownership of the Verizon (VZ) phantom stock units classified in the Form 4?

The Form 4 classifies the phantom stock units as held indirectly "By Deferred Compensation Plan." This means the position is recorded through the plan rather than as directly held Verizon common shares in the executive’s personal brokerage account.