Do Verizon (VZ) phantom stock units include dividend-related amounts?

Yes. A footnote states that the reported total includes phantom stock acquired through dividend reinvestment. This means cash-equivalent credits tied to dividends are automatically added as additional phantom stock units in the deferred compensation plan account.

Verizon (NYSE: VZ) EVP receives additional phantom stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Verizon Communications executive Alfonso Villanueva Rodriguez reported a compensation-related grant of phantom stock under a deferred compensation plan. He acquired 77.643 unitized phantom stock units at an assigned value of $13.47 per unit, each economically tied to a portion of one share of common stock but settled in cash.

Following this grant, his indirect holdings in the plan total 6,085.988 phantom stock units, representing a cash-settled economic interest rather than actual Verizon shares. The phantom stock becomes payable upon events he established in line with the deferred compensation plan’s terms and includes amounts accumulated through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Villanueva Rodriguez Alfonso

Role EVP&Int.Group CEO-VZ Cons.&CTO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	77.643	$13.47	$1K

Holdings After Transaction: Phantom Stock (unitized) — 6,085.988 shares (Indirect, By Deferred Compensation Plan)

Footnotes (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.

Key Figures

Phantom stock units granted: 77.643 units Assigned value per phantom unit: $13.47 per unit Total phantom stock holdings: 6,085.988 units +2 more

5 metrics

Phantom stock units granted 77.643 units Grant on 2026-04-23 under deferred compensation plan

Assigned value per phantom unit $13.47 per unit Value used for 2026-04-23 phantom stock grant

Total phantom stock holdings 6,085.988 units Indirect holdings after reported transaction

Underlying common stock equivalent 22.000 shares Underlying Verizon common stock referenced for this derivative

Conversion/exercise price $0.00 Phantom stock derivative has no exercise price

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment, indirect ownership, +1 more

5 terms

Phantom Stock (unitized) financial

"security_title: "Phantom Stock (unitized)""

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" and nature_of_ownership: "By Deferred Compensation Plan""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Form 4 Insider Transactions: What Each Field Means →

04/24/2026 - 02:34 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^*

Villanueva Rodriguez Alfonso

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP&Int.Group CEO-VZ Cons.&CTO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026

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 (unitized)	⁽¹⁾	04/23/2026		A		77.643		⁽¹⁾	⁽¹⁾	Common Stock	22	$13.47	6,085.988⁽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 Alfonso Villanueva Rodriguez	04/24/2026
	** 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) executive Alfonso Villanueva report on this Form 4?

He reported a grant of phantom stock units under a deferred compensation plan. The filing shows 77.643 unitized phantom stock units were awarded, adding to his existing cash-settled economic interest tied to Verizon common stock performance.

How many phantom stock units does the Verizon (VZ) EVP now hold?

After this grant, he holds 6,085.988 phantom stock units indirectly. These units track the value of Verizon common stock and related dividends but are settled in cash according to the deferred compensation plan’s payout events and elections.

Was this Verizon (VZ) insider transaction a market buy or sell?

No. The Form 4 describes a compensation-related acquisition coded as a grant or award, not an open-market purchase or sale. The 77.643 phantom stock units were awarded within a deferred compensation plan structure, rather than bought or sold on an exchange.

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

Phantom stock is a cash-settled award economically equivalent to a portion of a Verizon common share. It mirrors the stock’s value and dividends but does not involve issuing actual shares, and is paid out in cash under the deferred compensation plan rules.

How are the Verizon (VZ) phantom stock units held by the EVP classified?

They are reported as indirect holdings through a deferred compensation plan. The Form 4 identifies ownership type as indirect, with the nature of ownership noted as “By Deferred Compensation Plan,” reflecting plan-based economic exposure instead of direct share ownership.