Verizon (NYSE: VZ) legal chief adds cash-settled phantom stock

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC (VZ) reported that EVP and Chief Legal Officer Vandana Venkatesh acquired an award of 90.518 units of Phantom Stock (unitized) on 2026-08-27 under a deferred compensation plan. Each phantom share is the economic equivalent of a portion of one share of common stock and is settled in cash, becoming payable upon specified events under the plan. Following this award (which includes phantom stock acquired through dividend reinvestment), her indirect holdings through the Deferred Compensation Plan total 57,929.963 phantom stock units, economically linked to 26 underlying shares of common stock for this transaction.

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) F1, F2	90.518	$14.11	$1K

Holdings After Transaction: Phantom Stock (unitized) — 57,929.963 shares (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 acquired: 90.518 units Reported value per phantom stock unit: $14.11 per unit Phantom stock units held after transaction: 57,929.963 units +1 more

4 metrics

Phantom stock units acquired 90.518 units Grant, award, or other acquisition on 2026-08-27

Reported value per phantom stock unit $14.11 per unit Associated with the 90.518 phantom stock units acquired

Phantom stock units held after transaction 57,929.963 units Indirect holdings through Deferred Compensation Plan following transaction

Underlying common stock for this award 26 shares Underlying security shares linked to the reported phantom stock transaction

Key Terms

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

3 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.

FAQ

What insider transaction did VZ report for Vandana Venkatesh?

VZ reported that EVP and Chief Legal Officer Vandana Venkatesh received an award of 90.518 phantom stock units on 2026-08-27 under a deferred compensation plan, classified as a grant, award, or other acquisition of a derivative security.

How many phantom stock units does Vandana Venkatesh hold indirectly after this VZ transaction?

After the reported transaction, Vandana Venkatesh indirectly holds 57,929.963 phantom stock units through a Deferred Compensation Plan, according to the filing’s post-transaction holdings figure.

What is the reported value per phantom stock unit in the VZ Form 4?

The Form 4 reports a value of $14.11 per phantom stock unit for the 90.518 units acquired, with a footnote explaining that each phantom share is the economic equivalent of a portion of one share of Verizon common stock and is settled in cash.

Is the VZ phantom stock award to Vandana Venkatesh settled in stock or cash?

The award is settled in cash. The filing states that each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash upon events established under the deferred compensation plan.

Was the VZ insider transaction made under a Rule 10b5-1 trading plan?

No. The Rule 10b5-1 checkbox is marked as false, indicating the reported acquisition was not affirmed as being made under a Rule 10b5-1 trading plan.

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

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Available on EDGAR 08/31/2026 - 12:08 PM Accepted by SEC EDGAR 08/31/2026 - 12:07 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^*

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)
08/27/2026

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)	08/27/2026		A		90.518		(1)	(1)	Common Stock	26	$14.11	57,929.963(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	08/31/2026
	** 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)