Hans Erik Vestberg (VZ) receives cash-settled phantom stock award via deferred plan

Rhea-AI Filing Summary

Verizon Communications Inc. director Hans Erik Vestberg reported an award of phantom stock units tied to the company’s common stock under a deferred compensation plan. On April 9, 2026, he acquired 195.245 phantom stock units at an attributed value of $13.63 per unit.

Each phantom stock unit is the economic equivalent of a portion of one Verizon common share but is settled in cash, not stock. Following this award and prior accruals, Vestberg’s deferred compensation holdings total 225,010.470 phantom stock units, including amounts accumulated through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vestberg Hans Erik

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	195.245	$13.63	$3K

Holdings After Transaction: Phantom Stock (unitized) — 225,010.47 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.

Key Figures

Phantom stock units granted: 195.245 units Attributed value per unit: $13.63 per unit Total phantom stock units after award: 225,010.470 units +2 more

5 metrics

Phantom stock units granted 195.245 units Award on April 9, 2026 under deferred compensation plan

Attributed value per unit $13.63 per unit Phantom stock grant valuation

Total phantom stock units after award 225,010.470 units Deferred compensation balance following transaction

Underlying common stock reference 56.000 shares Underlying Verizon common stock tied to this phantom stock entry

Conversion or exercise price $0.00 Phantom stock units under deferred compensation plan

Key Terms

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

4 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.

phantom stock financial

"Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash."

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.

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 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^*

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)
04/09/2026

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)	04/09/2026		A		195.245		(1)	(1)	Common Stock	56	$13.63	225,010.47(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	04/10/2026
	** 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)

FAQ

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

Hans Erik Vestberg reported receiving an award of 195.245 phantom stock units under Verizon’s deferred compensation plan. These units reference Verizon common stock value but are paid in cash, not shares, when distributed according to the plan’s terms.

Is the Verizon (VZ) Form 4 transaction a stock purchase or sale?

The transaction is not a stock purchase or sale. Vestberg received a grant of phantom stock units as compensation. These units track Verizon’s share price but are settled in cash instead of issuing or trading actual Verizon shares.

How many phantom stock units does Hans Erik Vestberg now hold at Verizon (VZ)?

After this award, Hans Erik Vestberg holds 225,010.470 phantom stock units in total through the deferred compensation plan. This balance reflects the new 195.245 unit grant plus previously accrued amounts, including units added via dividend reinvestment.

What is the value per unit for the Verizon (VZ) phantom stock grant?

The reported grant uses a value of $13.63 per phantom stock unit. This figure represents the economic value attributed per unit for this award, which references Verizon’s common stock performance but is ultimately paid out in cash.

Does Hans Erik Vestberg hold the Verizon (VZ) phantom stock directly?

No. The phantom stock units are held indirectly through a Deferred Compensation Plan. The filing lists the ownership as indirect and specifies that the units become payable based on events Vestberg established under that plan.