Verizon CLO granted phantom stock units

Verizon Communications executive Vandana Venkatesh reported a routine compensation-related transaction involving cash-settled phantom stock units.

Rhea-AI Filing Summary

Verizon Communications executive Vandana Venkatesh reported a routine compensation-related transaction involving cash-settled phantom stock units. On the reported date, she acquired 97.587 phantom stock units at a reference value of $13.08 per unit through a deferred compensation plan, bringing her total phantom stock holdings in that plan to 56,601.227 units.

Each phantom stock unit is economically linked to a portion of one share of Verizon common stock but is settled in cash rather than actual shares, and includes amounts accumulated through dividend reinvestment. The holdings are reported as indirect ownership through the company’s deferred compensation plan.

Insider Trade Summary

Grant/Award: 97.587 shares

Grant/Award 1 txn

Insider Venkatesh Vandana

Role EVP and Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	97.587	$13.08	$1K

Holdings After Transaction: Phantom Stock (unitized) — 56,601.227 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 acquired: 97.587 units Reference value per unit: $13.08 per unit Total phantom stock after transaction: 56,601.227 units +1 more

4 metrics

Phantom stock units acquired 97.587 units Grant under deferred compensation plan on reported date

Reference value per unit $13.08 per unit Phantom stock (unitized) transaction value

Total phantom stock after transaction 56,601.227 units Indirect holdings via deferred compensation plan

Underlying common stock equivalent 28.000 shares Underlying Verizon common stock reference for the phantom units

Key Terms

Phantom Stock (unitized), deferred compensation plan, dividend reinvestment, indirect ownership

4 terms

Phantom Stock (unitized) financial

"security_title: "Phantom Stock (unitized)""

deferred compensation plan financial

"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.

indirect ownership financial

"direct_or_indirect: "I" and nature_of_ownership: "By Deferred Compensation Plan""

FAQ

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

What did Verizon (VZ) executive Vandana Venkatesh report on this Form 4?

Vandana Venkatesh reported an acquisition of phantom stock units through a deferred compensation plan. She received 97.587 unitized phantom stock units, economically linked to Verizon common stock but settled in cash, increasing her indirect phantom stock holdings to 56,601.227 units under the plan.

Is Vandana Venkatesh’s Verizon (VZ) Form 4 transaction a stock purchase or sale?

The Form 4 shows a grant or award acquisition, not an open-market purchase or sale. She received 97.587 phantom stock units as compensation, classified under transaction code “A,” with no corresponding sale of Verizon common stock reported in this filing.

What are phantom stock units in the Verizon (VZ) deferred compensation plan?

Phantom stock units are cash-settled instruments whose value tracks a portion of Verizon common stock. They are payable in cash upon events the executive selects under the deferred compensation plan and can accumulate additional units through dividend reinvestment over time.

How many Verizon-related phantom stock units does Vandana Venkatesh hold after this Form 4 event?

After this transaction, Vandana Venkatesh holds 56,601.227 phantom stock units indirectly via Verizon’s deferred compensation plan. This total includes the newly awarded 97.587 units as well as phantom stock previously accumulated, including units from dividend reinvestment.

Does this Verizon (VZ) Form 4 involve actual common shares being issued or traded?

No, the reported security is phantom stock, not actual Verizon common shares. Each phantom stock unit is economically equivalent to a portion of one share but is settled entirely in cash, based on the deferred compensation plan’s terms and elected payout events.

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

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Accepted by SEC EDGAR 06/18/2026 - 02:06 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^*

Venkatesh Vandana

(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 Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026

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)	06/17/2026		A		97.587		(1)	(1)	Common Stock	28	$13.08	56,601.227(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 Vandana Venkatesh	06/18/2026
	** 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)