Verizon (VZ) Form 4 shows new 228 phantom stock units for director

Rhea-AI Filing Summary

Verizon Communications Inc. (VZ) reported an insider equity-related transaction by a director on Form 4. On 11/20/2025, the reporting person acquired 228.077 units of phantom stock at a reference price of $11.64 per unit through a deferred compensation plan.

After this transaction, the director beneficially owns 203,640.319 phantom stock units, held indirectly via a Deferred Compensation Plan. Each phantom stock unit represents the economic value of a portion of one share of Verizon common stock and is settled in cash, becoming payable upon events chosen under the plan. The holdings also include phantom stock accrued through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vestberg Hans Erik

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	228.077	$11.64	$3K

Holdings After Transaction: Phantom Stock (unitized) — 203,640.319 shares (Indirect, By Deferred Compensation Plan)

Footnotes (1)

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. Includes phantom stock acquired through dividend reinvestment.

Form 4 Insider Transactions: What Each Field Means →

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^*

Vestberg Hans Erik

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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)	11/20/2025		A		228.077		(1)	(1)	Common Stock	65	$11.64	203,640.319(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 Hans Erik Vestberg	11/21/2025
	** 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 insider transaction did Verizon (VZ) report on this Form 4?

The filing shows a director of Verizon Communications Inc. acquired 228.077 phantom stock units on 11/20/2025 under a deferred compensation plan.

How many phantom stock units does the Verizon (VZ) director now beneficially own?

Following the reported transaction, the director beneficially owns 203,640.319 phantom stock units, held indirectly through a Deferred Compensation Plan.

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

For Verizon, each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash rather than in actual shares.

At what price was the Verizon (VZ) phantom stock transaction recorded?

The acquisition of 228.077 phantom stock units was recorded at a reference price of $11.64 per unit.

How is the Verizon (VZ) phantom stock held by the director structured?

The phantom stock is held indirectly under a Deferred Compensation Plan and becomes payable upon events established by the reporting person within that plan.

Does the Verizon (VZ) phantom stock include dividend-related amounts?

Yes. The reported 203,640.319 phantom stock units include units acquired through dividend reinvestment.