Verizon (VZ) director Narasimhan granted 5,062 phantom stock units in deferred plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC director Laxman Narasimhan received an award of 5,062 shares of phantom stock on April 1, 2026 under a deferred compensation plan. Each phantom stock unit is economically equivalent to one share of common stock and is settled in cash after his service as a director ends. Following this grant, he indirectly holds 33,125 phantom stock units, including amounts acquired through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Narasimhan Laxman

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	5,062	$0.00	--

Holdings After Transaction: Phantom Stock — 33,125 shares (Indirect, By Deferred Compensation Plan)

Footnotes (1)

Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock become payable following the reporting person's termination of service as a director. Includes phantom stock acquired through dividend reinvestment.

Key Figures

Phantom stock units granted: 5,062 units Total phantom stock after grant: 33,125 units Underlying common stock equivalent: 5,062 shares +1 more

4 metrics

Phantom stock units granted 5,062 units Award on April 1, 2026

Total phantom stock after grant 33,125 units Indirect holdings following transaction

Underlying common stock equivalent 5,062 shares Each phantom unit equals one common share economically

Transaction price per unit $0.0000 Grant/award acquisition, cash-settled later

Key Terms

Phantom Stock, Deferred Compensation Plan, Grant, award, or other acquisition, Dividend reinvestment

4 terms

Phantom Stock financial

"Each share of phantom stock is the economic equivalent of one share of common stock"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

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.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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.

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:02 PM

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^*

Narasimhan Laxman

(Last)

(First)

(Middle)

VERIZON COMMUNICATIONS INC.

1095 AVENUE OF THE AMERICAS

(Street)

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
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	04/01/2026		A		5,062		⁽¹⁾	⁽¹⁾	Common Stock	5,062	$0	33,125⁽²⁾	I	By Deferred Compensation Plan

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash. The shares of phantom stock become payable following the reporting person's termination of service as a director.

2. Includes phantom stock acquired through dividend reinvestment.

Remarks:

Exhibit 24 - Power of Attorney.

	Evgeniya Berezkina, Attorney-in-fact for Laxman Narasimhan	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Verizon (VZ) director Laxman Narasimhan report in this Form 4?

He reported receiving 5,062 phantom stock units on April 1, 2026. These units are part of a deferred compensation plan and are economically equivalent to Verizon common shares, but they are settled in cash rather than stock after his board service ends.

How many phantom stock units does Laxman Narasimhan hold after this Verizon (VZ) transaction?

After the award, he indirectly holds 33,125 phantom stock units. This total includes the new 5,062-unit grant plus prior phantom stock, and also reflects units accumulated through dividend reinvestment within the deferred compensation plan.

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

Phantom stock is a cash-settled award whose value tracks Verizon common stock. Each phantom unit is economically equivalent to one common share, but it does not involve actual share issuance and is paid in cash at a specified future time, such as after board service ends.

How and when are Verizon (VZ) phantom stock units payable to the director?

The phantom stock units become payable following Laxman Narasimhan’s termination of service as a Verizon director. At that time, the units are settled in cash, based on their value as economic equivalents of Verizon common stock rather than being converted into actual shares.

Is this Verizon (VZ) Form 4 transaction a stock market purchase or sale?

No, it is a grant of 5,062 phantom stock units under a deferred compensation plan. The transaction is classified as an acquisition by award, with no open-market buying or selling of Verizon common shares involved in this particular filing.