Verizon CEO granted 189 phantom stock units

VERIZON COMMUNICATIONS INC (VZ) reported that director and CEO Daniel H. Schulman acquired additional derivative interests tied to Verizon common stock through a deferred compensation arrangement.

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC (VZ) reported that director and CEO Daniel H. Schulman acquired additional derivative interests tied to Verizon common stock through a deferred compensation arrangement. On 2026-08-27, he received a grant of 188.6710 units of phantom stock (unitized), economically linked to Verizon common shares and settled in cash, held indirectly via a deferred compensation plan. This brought his total phantom stock balance in the plan to 9,222.3150 units, including amounts accumulated through dividend reinvestment, representing the economic equivalent of portions of common shares rather than actual stock ownership.

Insider Trade Summary

Grant/Award: 188.671 shares

Grant/Award 1 txn

Insider SCHULMAN DANIEL H

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized) F1, F2	188.671	$14.11	$3K

Holdings After Transaction: Phantom Stock (unitized) — 9,222.315 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: 188.6710 units Reference value per phantom stock unit: $14.1100 Total phantom stock units after transaction: 9,222.3150 units +1 more

4 metrics

Phantom stock units acquired 188.6710 units Grant/award acquisition on 2026-08-27 of phantom stock (unitized) tied to Verizon common stock

Reference value per phantom stock unit $14.1100 Price field associated with the 188.6710 phantom stock units granted on 2026-08-27

Total phantom stock units after transaction 9,222.3150 units Indirect holdings via deferred compensation plan following the 2026-08-27 grant, including dividend reinvestment

Underlying common stock equivalent 54.0000 shares Underlying Verizon common stock linked to the reported phantom stock transaction

Key Terms

phantom stock, deferred compensation plan, dividend reinvestment, indirect ownership

4 terms

phantom stock financial

"Each share of phantom stock is the economic equivalent of a portion of one share"

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

"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

"ownership_type "indirect" with nature_of_ownership "By Deferred Compensation Plan""

FAQ

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

What did VZ CEO Daniel H. Schulman report in this Form 4?

He reported a grant of 188.6710 units of phantom stock on 2026-08-27, held indirectly through a deferred compensation plan and economically linked to Verizon common stock, with settlement in cash rather than actual share delivery.

How many phantom stock units linked to VZ does Daniel H. Schulman now hold?

After the reported grant, Daniel H. Schulman holds 9,222.3150 phantom stock units in total under the deferred compensation plan, representing the economic equivalent of portions of Verizon common shares and including units acquired through dividend reinvestment.

Is the VZ phantom stock reported by Daniel H. Schulman settled in shares or cash?

The filing states that each unit of phantom stock is the economic equivalent of a portion of one VZ common share but is settled in cash, becoming payable upon events established under the deferred compensation plan.

Does this VZ Form 4 reflect a market purchase or sale of common stock?

No. The Form 4 reflects a grant/award acquisition of phantom stock units in a deferred compensation plan, not a market purchase or sale of Verizon common shares. The phantom stock is a cash-settled derivative tied to Verizon’s stock.

How were dividends on VZ stock treated for Daniel H. Schulman’s phantom stock?

The filing notes that the reported total includes phantom stock acquired through dividend reinvestment, meaning cash-equivalent amounts of dividends attributable to the phantom stock position were reinvested into additional phantom stock units.

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

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Available on EDGAR 08/31/2026 - 12:04 PM EDT Accepted by SEC EDGAR 08/31/2026 - 12:03 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^*

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2026

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)	08/27/2026		A		188.671		(1)	(1)	Common Stock	54	$14.11	9,222.315(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 Daniel H. Schulman	08/31/2026
	** 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)