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Verizon (NYSE: VZ) SVP adds phantom stock via deferred compensation award

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

Rhea-AI Filing Summary

Verizon Communications senior vice president and controller Mary-Lee Stillwell reported an acquisition of 42.446 units of phantom stock through a deferred compensation plan. After this grant, her indirect holdings in phantom stock total 16,541.734 units, which are economically tied to Verizon common stock and will be settled in cash according to her plan elections.

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Insider Stillwell Mary-Lee
Role SVP and Controller
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 42.446 $13.77 $584.48
Holdings After Transaction: Phantom Stock (unitized) — 16,541.734 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 42.446 units Grant/award acquisition on May 21, 2026
Phantom stock holdings after transaction 16,541.734 units Indirect holdings via deferred compensation plan
Phantom stock reference price $13.7700 per unit Transaction price per phantom stock unit
Underlying common stock 12.0000 shares Common stock underlying this phantom stock entry
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*
Stillwell Mary-Lee
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP and Controller
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)05/21/2026A42.446 (1) (1)Common Stock12$13.7716,541.734(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 Mary-Lee Stillwell05/26/2026
** 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 did Verizon (VZ) executive Mary-Lee Stillwell report on this Form 4?

Mary-Lee Stillwell reported receiving 42.446 units of phantom stock through a deferred compensation plan. This was a compensation-related award, not an open-market stock purchase or sale, and increases her indirect phantom stock holdings tied to Verizon’s common stock value.

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

After the transaction, Mary-Lee Stillwell indirectly holds 16,541.734 phantom stock units. These units mirror the value of Verizon common stock and are part of a deferred compensation arrangement rather than regular shares held in a brokerage account.

Is the Verizon (VZ) Form 4 transaction a buy or sell in the open market?

The Form 4 shows a grant or award acquisition, not an open-market buy or sell. The 42.446 phantom stock units were credited under a deferred compensation plan and are classified as derivative compensation, settled in cash based on Verizon’s common stock performance.

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

Phantom stock is a cash-settled award that tracks the value of common stock without issuing actual shares. For this filing, each phantom stock unit is economically equivalent to part of one Verizon share, becoming payable under events defined in the deferred compensation plan.

How is the Verizon (VZ) phantom stock award held for the executive?

The phantom stock units are held indirectly through a deferred compensation plan. The Form 4 lists ownership as indirect, with the nature of ownership specified as “By Deferred Compensation Plan,” highlighting that these are plan-based compensation credits, not directly held Verizon shares.

Does the Verizon (VZ) Form 4 mention dividend reinvestment on phantom stock?

Yes. A footnote explains that the total phantom stock includes units acquired through dividend reinvestment. This means dividends associated with the phantom stock are automatically converted into additional phantom stock units within the deferred compensation plan structure.