Verizon director receives phantom stock award

Verizon Communications director Hans Erik Vestberg reported an award of phantom stock units tied to Verizon common stock through a deferred compensation plan.

Rhea-AI Filing Summary

Verizon Communications director Hans Erik Vestberg reported an award of phantom stock units tied to Verizon common stock through a deferred compensation plan. On May 21, 2026, he acquired 193.239 phantom stock units at a reference value of $13.77 per unit, increasing his indirect deferred-compensation balance to 228,879.651 phantom units.

Each phantom stock unit is economically equivalent to a portion of one share of Verizon common stock but is settled in cash rather than stock. The award relates to an underlying interest in 55 shares of common stock and becomes payable upon events Vestberg has established under the company’s deferred compensation plan. The filing also notes that the total includes phantom stock acquired through dividend reinvestment.

Insider Trade Summary

Grant/Award: 193.239 shares

Grant/Award 1 txn

Insider Vestberg Hans Erik

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	193.239	$13.77	$3K

Holdings After Transaction: Phantom Stock (unitized) — 228,879.651 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: 193.239 units Reference price per unit: $13.77 per unit Total phantom units after award: 228,879.651 units +2 more

5 metrics

Phantom stock units acquired 193.239 units Award on May 21, 2026

Reference price per unit $13.77 per unit Phantom stock valuation

Total phantom units after award 228,879.651 units Deferred compensation balance after transaction

Underlying common stock 55 shares Common stock underlying the phantom award

Exercise price $0.00 Conversion or exercise price for phantom stock

Key Terms

Phantom Stock (unitized), deferred compensation plan, dividend reinvestment, phantom stock

4 terms

Phantom Stock (unitized) financial

"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.

phantom stock financial

"Each share of phantom stock is the economic equivalent"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

FAQ

What did Hans Erik Vestberg report in this Verizon (VZ) Form 4?

Hans Erik Vestberg reported receiving 193.239 phantom stock units linked to Verizon common stock. These units were credited to his deferred compensation plan, increasing his indirect phantom stock holdings to 228,879.651 units as of May 21, 2026.

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

The phantom stock units were valued at a reference price of $13.77 per unit. Each unit is economically tied to a portion of one Verizon common share and is ultimately settled in cash under the deferred compensation plan.

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

After the May 21, 2026 award, Hans Erik Vestberg holds 228,879.651 phantom stock units indirectly. These units are maintained under a deferred compensation plan and reflect both new awards and amounts accumulated, including through dividend reinvestment.

Are the Verizon (VZ) phantom stock units settled in shares or cash?

The phantom stock units are settled in cash, not in actual Verizon shares. Each unit mirrors the economic performance of a portion of one common share, with payment triggered by events specified in the deferred compensation plan.

What underlying common stock amount is linked to this Verizon (VZ) phantom stock grant?

The reported phantom stock award corresponds to an underlying interest in 55 shares of Verizon common stock. This linkage is for economic equivalence only, as the phantom units are paid in cash under the deferred compensation plan.

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Accepted by SEC EDGAR 05/26/2026 - 11:57 AM 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

X

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^*

Vestberg Hans Erik

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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)	05/21/2026		A		193.239		(1)	(1)	Common Stock	55	$13.77	228,879.651(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 Hans Erik Vestberg	05/26/2026
	** 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)