Verizon EVP awarded cash-settled phantom stock

Verizon Communications executive Kyle Malady, EVP and Group CEO–VZ Business, reported an acquisition of 138.74 phantom stock (unitized) units on 2026-07-16 under a deferred compensation plan.

Rhea-AI Filing Summary

Verizon Communications executive Kyle Malady, EVP and Group CEO–VZ Business, reported an acquisition of 138.74 phantom stock (unitized) units on 2026-07-16 under a deferred compensation plan. Each phantom stock unit is the economic equivalent of a portion of one share of Verizon common stock and is settled in cash, becoming payable upon events Malady established in accordance with the plan. The reported total phantom stock balance after this transaction is 417,694.488 units, including units acquired through dividend reinvestment, all held indirectly via the deferred compensation plan.

Insider Trade Summary

Grant/Award: 138.74 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) F1, F2	138.74	$12.53	$2K

Holdings After Transaction: Phantom Stock (unitized) — 417,694.488 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 acquired: 138.7400 units Price reference per phantom unit: 12.5300 Total phantom stock after transaction: 417694.4880 units +1 more

4 metrics

Phantom stock units acquired 138.7400 units Grant/award acquisition on 2026-07-16 under deferred compensation plan

Price reference per phantom unit 12.5300 Footnote-qualified price associated with phantom stock units

Total phantom stock after transaction 417694.4880 units Indirect holdings via Deferred Compensation Plan following 2026-07-16 award

Underlying common stock reference 40.0000 shares Underlying security shares tied economically to the reported phantom stock

Key Terms

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

4 terms

Phantom Stock (unitized) financial

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

Deferred Compensation Plan financial

"events established by the reporting person 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.

economic equivalent financial

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

FAQ

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

What insider transaction did Kyle Malady report for Verizon (VZ) on this Form 4?

Kyle Malady reported acquiring 138.74 phantom stock units on 2026-07-16 through a Verizon deferred compensation plan. These units are cash-settled and linked economically to Verizon common stock rather than being actual shares.

Are the securities reported in this Verizon (VZ) Form 4 actual common shares?

No, the filing reports phantom stock (unitized), not actual Verizon common shares. Each phantom unit is the economic equivalent of a portion of one common share and is settled in cash under the deferred compensation plan.

How many phantom stock units does Kyle Malady hold after this Verizon (VZ) transaction?

After the reported acquisition, Kyle Malady holds 417,694.488 phantom stock units indirectly through a deferred compensation plan. This total includes phantom stock acquired via dividend reinvestment, as disclosed in the footnotes.

How and when is the Verizon (VZ) phantom stock held by Kyle Malady paid out?

The phantom stock is settled in cash and becomes payable upon events established by Kyle Malady in line with the deferred compensation plan. The timing and conditions follow those pre-selected plan events rather than market trading.

Is Kyle Malady’s Verizon (VZ) phantom stock transaction under a Rule 10b5-1 plan?

The Form 4 does not classify this transaction as made under a Rule 10b5-1 trading plan. The Rule 10b5-1 checkbox is not marked as an affirmative plan transaction in the filing data.

How is dividend reinvestment reflected in Kyle Malady’s Verizon (VZ) phantom stock holdings?

The total of 417,694.488 phantom stock units held after the transaction includes units acquired through dividend reinvestment. A footnote specifies that phantom stock accumulated from reinvested dividends is part of the reported balance.

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

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Accepted by SEC EDGAR 07/17/2026 - 03:05 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)
07/16/2026

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)	07/16/2026		A		138.74		(1)	(1)	Common Stock	40	$12.53	417,694.488(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	07/17/2026
	** 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)