Verizon (VZ) EVP Kyle Malady reports new phantom stock units in Form 4 filing

Rhea-AI Filing Summary

Verizon Communications Inc. executive Kyle Malady, EVP and Group CEO for Verizon Business, reported a routine change in indirect ownership through the company’s deferred compensation plan. On 12/04/2025, he acquired 146.959 units of phantom stock, a derivative security that tracks the value of Verizon common stock and is settled in cash rather than actual shares.

The phantom stock is economically tied to 42 shares of Verizon common stock at a reference price of $11.78 per share. Following this transaction, Malady indirectly held 396,353.166 phantom stock units through the deferred compensation plan, which also reflects units accumulated via dividend reinvestment. These amounts represent compensation-related holdings rather than open-market stock purchases or sales.

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^*

Malady Kyle

(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 Group CEO-VZ Business

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

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)	12/04/2025		A		146.959		(1)	(1)	Common Stock	42	$11.78	396,353.166(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 Kyle Malady	12/05/2025
	** 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.

FAQ

What insider transaction did Verizon (VZ) report for Kyle Malady?

The report shows that EVP and Group CEO-VZ Business Kyle Malady acquired 146.959 units of phantom stock on 12/04/2025 through a deferred compensation plan.

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

Each unit of phantom stock is the economic equivalent of a portion of one share of Verizon common stock and is settled in cash, becoming payable upon events set under the deferred compensation plan.

How many phantom stock units does Kyle Malady hold after this transaction?

After the reported transaction, Kyle Malady beneficially owned 396,353.166 phantom stock units, held indirectly through Verizon’s deferred compensation plan.

What common stock amount underlies the phantom stock acquired by the Verizon (VZ) executive?

The 146.959 phantom stock units acquired are economically tied to 42 shares of Verizon common stock at a reference price of $11.78 per share.

Is the Verizon (VZ) insider phantom stock transaction an open-market trade?

No. The filing indicates the phantom stock was acquired under a deferred compensation plan and is settled in cash, rather than representing an open-market purchase or sale of Verizon shares.

How are dividends handled for the Verizon (VZ) phantom stock units?

The filing notes that the total includes phantom stock acquired through dividend reinvestment, meaning dividends are reinvested into additional phantom stock units within the plan.