Verizon (NYSE: VZ) legal chief gains 5,899 cash-settled phantom units

Rhea-AI Filing Summary

Verizon Communications executive Vandana Venkatesh, EVP and Chief Legal Officer, reported an acquisition of 5,899.235 unitized phantom stock units on February 26, 2026. These units are held indirectly through a deferred compensation plan.

Each phantom stock unit is the economic equivalent of a portion of one share of Verizon common stock but is settled in cash rather than actual shares. The phantom stock becomes payable upon events that Venkatesh has established under the deferred compensation plan, and the reported total also includes units acquired through dividend reinvestment, bringing indirect holdings in this plan to 55,044.686 units after the transaction.

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

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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 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

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)	02/26/2026		A		5,899.235		(1)	(1)	Common Stock	1,683	$13.95	55,044.686(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	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** 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.
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FAQ

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

Vandana Venkatesh reported acquiring 5,899.235 unitized phantom stock units through a deferred compensation plan. These units are cash-settled and economically tied to Verizon common stock, increasing her indirect phantom stock holdings to 55,044.686 units after the transaction.

What is the nature of the phantom stock reported for Verizon (VZ)?

The phantom stock consists of unitized cash-settled awards economically equivalent to a portion of one Verizon common share. They do not represent actual shares and become payable in cash upon events Venkatesh established under the company’s deferred compensation plan.

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

After the reported grant, Vandana Venkatesh indirectly holds 55,044.686 unitized phantom stock units. This total reflects the new 5,899.235-unit award plus prior balances, including additional phantom stock units accumulated through dividend reinvestment in the deferred compensation plan.

How were the new Verizon (VZ) phantom stock units acquired by Vandana Venkatesh?

The 5,899.235 unitized phantom stock units were acquired as a grant, award, or other acquisition under a deferred compensation plan. The Form 4 classifies this as an acquisition transaction, not an open-market purchase or sale of Verizon common stock.

Are the Verizon (VZ) phantom stock units held directly by Vandana Venkatesh?

No. The phantom stock units are held indirectly through a deferred compensation plan, as indicated by the ownership type. The Form 4 lists the nature of ownership as “By Deferred Compensation Plan,” distinguishing it from directly held common shares.

Do the Verizon (VZ) phantom stock units include dividend reinvestment for Vandana Venkatesh?

Yes. A footnote states the reported total includes phantom stock units acquired through dividend reinvestment. This means some units were added as plan dividends were reinvested, in addition to the 5,899.235-unit grant disclosed in this transaction.