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Verizon (NYSE: VZ) director receives cash-settled phantom stock grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Verizon Communications Inc. director and CEO Daniel H. Schulman reported an acquisition of phantom stock units through a deferred compensation plan. On this date, he received 195.245 unitized phantom stock awards at a reference value of $13.63 per unit, economically tied to common stock but settled in cash. Following this award, his indirect holdings in phantom stock under the plan total 6,979.007 units, including amounts accumulated through dividend reinvestment.

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Insider SCHULMAN DANIEL H
Role CEO
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 195.245 $13.63 $3K
Holdings After Transaction: Phantom Stock (unitized) — 6,979.007 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.
Phantom stock grant 195.245 units Unitized phantom stock awarded on 2026-04-09
Reference price per unit $13.63 per unit Transaction price per phantom stock unit
Total phantom units after grant 6,979.007 units Indirect phantom stock balance in deferred compensation plan
Underlying common stock equivalent 56.000 shares Underlying Verizon common stock associated with the phantom units
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.
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 →
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/09/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock (unitized)(1)04/09/2026A195.245 (1) (1)Common Stock56$13.636,979.007(2)IBy 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. Schulman04/10/2026
** Signature of Reporting PersonDate
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) insider Daniel H. Schulman report in this Form 4?

Daniel H. Schulman reported receiving a grant of 195.245 unitized phantom stock awards linked to Verizon common stock. These awards were credited to his deferred compensation plan and increase his indirect economic exposure to the company without issuing new actual shares.

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

After this grant, Schulman’s deferred compensation plan holds 6,979.007 phantom stock units. This total includes the newly awarded 195.245 units and additional units previously accumulated, including those acquired through dividend reinvestment under the plan’s terms.

Is the Verizon (VZ) phantom stock in this Form 4 settled in cash or shares?

The phantom stock reported is settled in cash, not in actual Verizon shares. Each phantom stock unit represents the economic equivalent of a portion of one common share, with payment occurring in cash upon events set under the deferred compensation plan.

Does this Verizon (VZ) Form 4 show a stock market purchase or sale by Schulman?

The filing shows a grant or award acquisition of phantom stock units, not an open-market stock purchase or sale. The units are credited within a deferred compensation plan and reflect compensation arrangements rather than trading of Verizon common shares.

How is Schulman’s ownership of Verizon (VZ) phantom stock classified in this filing?

The phantom stock units are reported as indirect ownership, held through a deferred compensation plan. The Form 4 lists the nature of ownership as “By Deferred Compensation Plan,” indicating the position is maintained within that plan rather than as directly held common stock.