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

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Verizon Communications executive Vandana Venkatesh, EVP and Chief Legal Officer, reported an acquisition of 93.672 phantom stock (unitized) units through a deferred compensation plan. Each phantom stock unit is economically tied to Verizon common stock but is settled in cash rather than actual shares.

The award relates to an underlying 27.0000 shares of common stock and is held indirectly via the deferred compensation plan. After this grant, the filing shows 55,315.0360 phantom stock units credited in total, including amounts accumulated through dividend reinvestment. This appears to be a routine, compensation-related award rather than an open-market trade.

Positive

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Insider Venkatesh Vandana
Role EVP and Chief Legal Officer
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 93.672 $13.63 $1K
Holdings After Transaction: Phantom Stock (unitized) — 55,315.036 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 grant 93.6720 units at $13.6300 Grant/award acquisition on 2026-04-09
Total phantom stock after grant 55,315.0360 units Indirectly held via Deferred Compensation Plan
Underlying common stock 27.0000 shares Related to this phantom stock grant
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.
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*
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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP and Chief Legal Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/09/2026		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)04/09/2026A93.672 (1) (1)Common Stock27$13.6355,315.036(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 Vandana Venkatesh04/10/2026
** 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 Vandana Venkatesh?

Verizon reported that EVP and Chief Legal Officer Vandana Venkatesh acquired 93.672 phantom stock (unitized) units. These are part of a deferred compensation plan and are economically linked to Verizon common stock but settled in cash, not actual share deliveries.

How many phantom stock units does Vandana Venkatesh now hold at Verizon (VZ)?

Following this transaction, Vandana Venkatesh is shown with 55,315.0360 phantom stock (unitized) units. These units reflect prior grants and accumulated amounts, including phantom stock acquired through dividend reinvestment under the company’s deferred compensation plan.

Is the Verizon (VZ) transaction a stock purchase or a compensation award?

The transaction is a compensation-related award, not an open-market stock purchase. It is coded as a grant or other acquisition of phantom stock under a deferred compensation plan, providing cash-settled economic exposure to Verizon common stock.

How is Verizon (VZ) phantom stock settled for Vandana Venkatesh?

Each share of phantom stock is the economic equivalent of a portion of one Verizon common share and is settled in cash. Payment occurs upon events that Venkatesh established in accordance with the company’s deferred compensation plan rules.

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

This phantom stock grant relates to an underlying 27.0000 shares of Verizon common stock. The phantom units track the value of those shares economically, while actual settlement is made in cash rather than in Verizon stock.