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Verizon (VZ) CEO Daniel Schulman receives new phantom stock award

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

Rhea-AI Filing Summary

SCHULMAN DANIEL H reported acquisition or exercise transactions in this Form 4 filing.

Verizon Communications Inc. director and officer Daniel H. Schulman reported receiving an award of 193.239 unitized phantom stock units on May 21, 2026 under a deferred compensation plan. Each phantom stock unit is economically tied to common stock value but is settled in cash.

Following this grant, Schulman holds a total of 7,669.578 phantom stock units indirectly through the deferred compensation plan, including amounts accumulated through dividend reinvestment. The phantom stock will be paid out in cash upon events he established under the plan.

Positive

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Negative

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Insider SCHULMAN DANIEL H
Role CEO
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 193.239 $13.77 $3K
Holdings After Transaction: Phantom Stock (unitized) — 7,669.578 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 193.239 units Grant/award on May 21, 2026
Phantom stock units after grant 7,669.578 units Total indirect holdings following transaction
Reference price per phantom unit $13.7700 per unit Transaction price per unit in Form 4
Underlying common stock equivalent 55.0000 shares Underlying security shares linked to the phantom stock
Conversion or exercise price $0.0000 Phantom stock is cash-settled with no exercise price
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.
Grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition""
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)
05/21/2026		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)05/21/2026A193.239 (1) (1)Common Stock55$13.777,669.578(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. Schulman05/26/2026
** 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 insider transaction did Verizon (VZ) report for Daniel H. Schulman?

Verizon reported that Daniel H. Schulman received an award of 193.239 unitized phantom stock units on May 21, 2026. These units are part of a deferred compensation plan and are economically tied to Verizon common stock value but are settled in cash rather than shares.

How many phantom stock units does Daniel H. Schulman hold after this Verizon (VZ) Form 4 filing?

After the reported transaction, Daniel H. Schulman holds 7,669.578 phantom stock units indirectly. This total includes the new 193.239-unit award and phantom stock accumulated through dividend reinvestment under Verizon’s deferred compensation plan, as disclosed in the Form 4 footnotes.

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

In this filing, each share of phantom stock is the economic equivalent of a portion of one Verizon common share and is settled in cash. The value tracks the common stock, and payment occurs upon events set by the participant under the deferred compensation plan.

Is Daniel H. Schulman’s phantom stock award a stock purchase or sale of Verizon (VZ) shares?

No, the Form 4 describes a grant or award acquisition of phantom stock units, not an open-market stock purchase or sale. The phantom stock is a cash-settled deferred compensation vehicle whose value is linked to Verizon common stock rather than actual share transactions.

How are Daniel H. Schulman’s Verizon (VZ) phantom stock units held according to the Form 4?

The Form 4 shows Schulman’s 7,669.578 phantom stock units as held indirectly through a deferred compensation plan. The nature of ownership is reported as “By Deferred Compensation Plan,” indicating the position is maintained within that plan structure rather than as directly held common shares.