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Verizon (VZ) insider adds phantom stock via deferred compensation award

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC insider Hans Erik Vestberg reported an acquisition of phantom stock units through a deferred compensation plan. On this date, he received 197.535 phantom stock (unitized) units at a reference value of $13.47 per unit.

Each phantom stock unit is economically tied to a portion of one share of Verizon common stock but is settled in cash rather than actual shares. Following this grant and associated dividend reinvestment, his indirect deferred-compensation holdings total 225,208.005 phantom stock units, representing an economic interest equivalent to 56 underlying shares of common stock.

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Insider Vestberg Hans Erik
Role null
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 197.535 $13.47 $3K
Holdings After Transaction: Phantom Stock (unitized) — 225,208.005 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 units granted 197.535 units Grant under deferred compensation plan on April 23, 2026
Reference value per phantom unit $13.47 per unit Value used for this phantom stock grant
Total phantom units after grant 225,208.005 units Indirect holdings in deferred compensation plan after transaction
Underlying common stock equivalent 56 shares Economic equivalence of phantom stock in Verizon common stock
Phantom Stock (unitized) financial
"Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash."
Deferred Compensation Plan financial
"The shares of phantom stock become payable upon events established by the reporting person 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.
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*
Vestberg Hans Erik
(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
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026		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)04/23/2026A197.535 (1) (1)Common Stock56$13.47225,208.005(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 Hans Erik Vestberg04/24/2026
** 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 Hans Erik Vestberg report on this Form 4?

Hans Erik Vestberg reported receiving 197.535 phantom stock units through a deferred compensation plan. These units track Verizon’s common stock value but are paid in cash, increasing his indirect, cash-settled economic exposure to the company.

What is phantom stock in the Verizon (VZ) deferred compensation plan?

Phantom stock represents bookkeeping units whose value mirrors Verizon common stock but are settled in cash. For this award, each phantom stock unit is the economic equivalent of a portion of a share, payable under the terms of the deferred compensation plan.

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

After the award, the insider’s deferred compensation account holds 225,208.005 phantom stock units. This total includes units acquired through this grant and additional phantom stock accumulated via dividend reinvestment, all settled in cash rather than Verizon shares.

Does this Verizon (VZ) phantom stock grant involve buying or selling common shares?

The transaction is a grant of phantom stock units, not a market trade in Verizon shares. The units are cash-settled and provide economic exposure similar to stock, but they do not represent voting stock or direct ownership of common shares.

What is the economic reference price for this Verizon (VZ) phantom stock grant?

The reported reference value for the granted phantom stock units is $13.47 per unit. This price is used for accounting the grant within the deferred compensation plan and reflects the economic value attributed to each unit at the transaction date.

How many underlying Verizon (VZ) common shares are tied to this phantom stock award?

The grant corresponds economically to 56 underlying shares of Verizon common stock. However, the award is structured as phantom stock and is settled in cash, so no actual Verizon shares are issued or transferred in this transaction.