Verizon insider filing: Kyle Malady gains 139.915 phantom stock units

Rhea-AI Filing Summary

Kyle Malady, EVP and Group CEO—VZ Business, reported a non‑derivative acquisition under Verizon Communications Inc. On 09/25/2025 he acquired 139.915 units of phantom stock under a deferred compensation plan; each phantom unit is an economic equivalent of a portion of one share and is settled in cash. The filing shows 388,858.276 units beneficially owned following the transaction, held indirectly through the deferred compensation plan. The filing notes phantom stock includes units acquired through dividend reinvestment and that payouts occur upon events elected under the plan.

Insights

Financial Analyst

Routine deferred compensation award to a senior executive; not a market-moving disclosure.

This Form 4 documents the acquisition of phantom stock units by a senior Verizon executive under a deferred compensation arrangement. The size of the reported incremental grant (139.915 units) is small relative to the total beneficially owned balance (388,858.276 units) and is recorded as indirect ownership through the company plan. There are no cash sales, option exercises, or changes to voting control reported. From a financial perspective, this disclosure primarily informs on executive pay mechanics and continued use of cash‑settled phantom units rather than indicating operational or capital events.

Executive Compensation Specialist

Shows continued use of deferred compensation and dividend reinvestment for executive pay; standard governance disclosure.

The filing clarifies that the phantom stock units are cash‑settled and payable per plan elections, and that dividend reinvestment increases unit balances. This is consistent with common deferred compensation designs that preserve economic alignment without issuing additional common shares. The filing contains no new information about plan amendments, accelerated vesting, or extraordinary payouts that would raise governance or liquidity concerns.

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

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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).

1. Name and Address of Reporting Person^*

Malady Kyle

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Group CEO-VZ Business

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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)	09/25/2025		A		139.915		(1)	(1)	Common Stock	40	$12.37	388,858.276(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	09/26/2025
	** 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 transaction did Kyle Malady report on Form 4 for VZ?

The Form 4 reports an acquisition of 139.915 phantom stock units on 09/25/2025 under a deferred compensation plan.

How are the phantom stock units settled according to the filing?

Each phantom stock unit is the economic equivalent of a portion of one common share and is settled in cash, payable per elections under the deferred compensation plan.

How many units does the filing show beneficially owned after the transaction?

The filing shows 388,858.276 units beneficially owned following the reported transaction, held indirectly through the deferred compensation plan.

Does the filing indicate dividend reinvestment for these units?

Yes. The filing states it includes phantom stock acquired through dividend reinvestment.

What is Kyle Malady's role at Verizon as listed on the Form 4?

The Form 4 lists Kyle Malady as EVP and Group CEO—VZ Business and an officer of Verizon Communications Inc.