Verizon (VZ) CEO Daniel Schulman reports new phantom stock award

Rhea-AI Filing Summary

Verizon Communications Inc. reported an equity-linked compensation transaction for CEO and director Daniel H. Schulman. On 12/31/2025, Schulman acquired 228.902 units of phantom stock under a deferred compensation plan at a derivative price of $11.63 per unit. These phantom stock units are economically tied to 65 shares of common stock and are settled in cash rather than actual shares. Following this award, Schulman beneficially owned 1,508.76 phantom stock units, held indirectly through a deferred compensation plan, with payment timing based on events he established under that plan.

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

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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^*

SCHULMAN DANIEL H

(Last) (First) (Middle)

VERIZON COMMUNICATIONS INC.

1095 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)	12/31/2025		A		228.902		(1)	(1)	Common Stock	65	$11.63	1,508.76	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.

Remarks:

	Evgeniya Berezkina, Attorney-in-fact for Daniel H. Schulman	01/02/2026
	** 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.

FAQ

What insider transaction did Verizon (VZ) disclose for Daniel H. Schulman?

Verizon (VZ) disclosed that CEO and director Daniel H. Schulman acquired 228.902 units of phantom stock on 12/31/2025 under a deferred compensation plan.

How many Verizon phantom stock units does Daniel H. Schulman now beneficially own?

After the reported transaction, Daniel H. Schulman beneficially owned 1,508.76 phantom stock units, held indirectly through a Deferred Compensation Plan.

What is the economic link between Daniel H. Schulman’s phantom stock and Verizon (VZ) common stock?

Each unit of phantom stock is the economic equivalent of a portion of one share of Verizon common stock and is tied here to 65 underlying common shares, but is settled in cash.

At what price were the Verizon phantom stock units recorded in this Form 4?

The reported phantom stock units were recorded with a derivative security price of $11.63 per unit in the Form 4.

How and when are Verizon phantom stock units for Daniel H. Schulman paid out?

The phantom stock units are settled in cash and become payable upon events that were established by Daniel H. Schulman in accordance with the deferred compensation plan.

Is Daniel H. Schulman’s ownership in this Verizon filing direct or indirect?

The Form 4 shows indirect ownership (I) of the reported phantom stock units, held by a Deferred Compensation Plan for Daniel H. Schulman.