Verizon exec granted 120 phantom stock units

Verizon Communications executive Kyle Malady, EVP and Group CEO–VZ Business, received a grant of 120.141 phantom stock units credited to his Deferred Compensation Plan account at $14.47 per unit.

Rhea-AI Filing Summary

Verizon Communications executive Kyle Malady, EVP and Group CEO–VZ Business, received a grant of 120.141 phantom stock units credited to his Deferred Compensation Plan account at $14.47 per unit. Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash under the plan’s terms.

The award corresponds to 34 underlying shares of common stock and increases his indirect holdings in the plan to 410,641.623 phantom stock units. The total includes phantom stock acquired through dividend reinvestment and becomes payable upon events he established in accordance with the deferred compensation plan.

Insider Trade Summary

Grant/Award: 120.141 shares

Grant/Award 1 txn

Insider Malady Kyle

Role EVP and Group CEO-VZ Business

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	120.141	$14.47	$2K

Holdings After Transaction: Phantom Stock (unitized) — 410,641.623 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 granted: 120.141 units Grant valuation price: $14.47 per unit Underlying common stock: 34 shares +1 more

4 metrics

Phantom stock units granted 120.141 units Grant on 2026-03-26 under deferred compensation plan

Grant valuation price $14.47 per unit Price used for phantom stock grant

Underlying common stock 34 shares Common stock equivalent referenced for this award

Total phantom units after transaction 410,641.623 units Indirect holdings in Deferred Compensation Plan after grant

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, economic equivalent, 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.

economic equivalent financial

"Each share of phantom stock is the economic equivalent of a portion of one share"

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

What did Verizon (VZ) executive Kyle Malady report in this Form 4?

Kyle Malady reported receiving a grant of 120.141 phantom stock units under a deferred compensation plan, valued at $14.47 per unit. These units are cash-settled and are economically tied to Verizon common stock performance.

How many phantom stock units does Kyle Malady now hold for Verizon (VZ)?

After this grant, Kyle Malady’s Deferred Compensation Plan account holds 410,641.623 phantom stock units. This total includes units credited from this award and additional phantom stock acquired through dividend reinvestment over time.

Is Kyle Malady’s Verizon (VZ) phantom stock grant an open-market stock purchase?

No. The Form 4 identifies the transaction as a grant or award acquisition of phantom stock units under a deferred compensation plan, rather than an open-market purchase or sale of Verizon common shares.

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

The filing describes each phantom stock unit as the economic equivalent of a portion of one share of Verizon common stock. These units are settled in cash and become payable upon events specified in the deferred compensation plan.

When will Kyle Malady’s Verizon (VZ) phantom stock units be paid out?

According to the disclosure, the phantom stock units become payable in cash upon events that Kyle Malady established under the deferred compensation plan. Specific payout timing details are governed by those plan elections.

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Accepted by SEC EDGAR 03/30/2026 - 12:04 PM 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^*

Malady Kyle

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

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)	03/26/2026		A		120.141		(1)	(1)	Common Stock	34	$14.47	410,641.623(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:

Exhibit 24 - Power of Attorney.

	Evgeniya Berezkina, Attorney-in-fact for Kyle Malady	03/30/2026
	** 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)