Verizon CEO Schulman awarded phantom stock units

Verizon Communications CEO and director Daniel H. Schulman reported an indirect award of 212.408 unitized phantom stock units on July 16, 2026, with a reported reference value of $12.53 per unit.

Rhea-AI Filing Summary

Verizon Communications CEO and director Daniel H. Schulman reported an indirect award of 212.408 unitized phantom stock units on July 16, 2026, with a reported reference value of $12.53 per unit. These cash-settled units track Verizon common stock value within a deferred compensation plan, include amounts acquired through dividend reinvestment, and increase his phantom stock balance in that plan to 8,515.073 units.

Insider Trade Summary

Grant/Award: 212.408 shares

Grant/Award 1 txn

Insider SCHULMAN DANIEL H

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized) F1, F2	212.408	$12.53	$3K

Holdings After Transaction: Phantom Stock (unitized) — 8,515.073 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 awarded: 212.408 units Reference value per phantom unit: $12.53 Phantom stock units after transaction: 8,515.073 units +1 more

4 metrics

Phantom stock units awarded 212.408 units Grant/award on 2026-07-16 reported by Daniel H. Schulman

Reference value per phantom unit $12.53 Reported transaction price per unitized phantom stock

Phantom stock units after transaction 8,515.073 units Total phantom stock balance in deferred compensation plan following award

Underlying common stock shares 61 shares Underlying Verizon common stock referenced for the phantom stock units

Key Terms

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

3 terms

Phantom Stock (unitized) financial

"Security title listed as Phantom Stock (unitized) in the transaction table"

Deferred Compensation Plan financial

"events established by the reporting person 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Daniel H. Schulman report on his latest Form 4 for VZ?

Daniel H. Schulman reported an indirect acquisition of 212.408 unitized phantom stock units linked to Verizon common stock value. The award is held in a deferred compensation plan and is settled in cash rather than through delivery of Verizon shares.

How many phantom stock units did VZ CEO Daniel H. Schulman acquire?

Daniel H. Schulman acquired 212.408 phantom stock units. These units are unitized phantom stock economically tied to Verizon common stock and are part of his deferred compensation plan, rather than being direct holdings of Verizon’s common stock.

What is phantom stock in the context of Verizon (VZ)?

Phantom stock refers to units that are the economic equivalent of a portion of one share of Verizon common stock but are settled in cash. Payout occurs upon events the reporting person established under Verizon’s deferred compensation plan.

How are Daniel H. Schulman’s phantom stock units held at Verizon (VZ)?

The phantom stock units are reported as indirectly owned, described as held “By Deferred Compensation Plan.” This means the units exist within a deferred compensation arrangement rather than as directly owned Verizon shares in a brokerage or personal account.

Does Daniel H. Schulman’s recent Form 4 for VZ show open-market stock trades?

No. The filing shows a grant/award acquisition of phantom stock units only, with no reported open-market purchases or sales of Verizon common stock. The units are a cash-settled compensation vehicle within a deferred compensation plan.

What is Daniel H. Schulman’s phantom stock balance at Verizon (VZ) after this transaction?

After the reported award, Daniel H. Schulman’s balance in the deferred compensation plan totals 8,515.073 phantom stock units. This figure includes units acquired through the latest grant and additional units accumulated via dividend reinvestment.

Do Verizon (VZ) phantom stock units in this filing include dividend reinvestment?

Yes. A footnote states the reported balance includes phantom stock acquired through dividend reinvestment. This means dividends notionally credited on the underlying Verizon common stock value are reinvested into additional phantom stock units within the plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/17/2026 - 02:52 PM EDT 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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/16/2026

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)	07/16/2026		A		212.408		(1)	(1)	Common Stock	61	$12.53	8,515.073(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 Daniel H. Schulman	07/17/2026
	** 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)