Verizon (VZ) CEO awarded new phantom stock in deferred plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC director and CEO Daniel H. Schulman reported an acquisition of phantom stock units through an indirect holding in a deferred compensation plan. On April 23, 2026, he received 197.535 phantom stock (unitized) at a reference price of $13.47 per unit.

Each share of phantom stock is the economic equivalent of a portion of one share of common stock, is settled in cash, and becomes payable upon events he established under the deferred compensation plan. The grant represents an underlying 56 shares of common stock, bringing his deferred compensation plan balance to 7,176.542 phantom stock units, including amounts acquired through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SCHULMAN DANIEL H

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	197.535	$13.47	$3K

Holdings After Transaction: Phantom Stock (unitized) — 7,176.542 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: 197.535 units Reference price per unit: $13.47 per unit Total phantom units after grant: 7,176.542 units +2 more

5 metrics

Phantom stock units granted 197.535 units Grant on April 23, 2026

Reference price per unit $13.47 per unit Phantom stock (unitized)

Total phantom units after grant 7,176.542 units Deferred compensation plan balance

Underlying common stock shares 56 shares Linked to the new phantom stock grant

Conversion or exercise price $0.00 Phantom stock settled in cash

Key Terms

Phantom Stock (unitized), deferred compensation plan, dividend reinvestment

3 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.

Form 4 Insider Transactions: What Each Field Means →

04/24/2026 - 02:24 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^*

SCHULMAN DANIEL H

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO

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		197.535		⁽¹⁾	⁽¹⁾	Common Stock	56	$13.47	7,176.542⁽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 Daniel H. Schulman	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 insider transaction did Verizon (VZ) report for Daniel H. Schulman?

Daniel H. Schulman reported receiving phantom stock units via a deferred compensation plan. On April 23, 2026, he was granted 197.535 phantom stock (unitized), indirectly held, tied economically to Verizon common stock but settled in cash under plan terms.

How many phantom stock units did Verizon (VZ) CEO Daniel Schulman receive?

He received 197.535 phantom stock (unitized) on April 23, 2026. These units are part of a deferred compensation plan and are economically linked to Verizon common stock while being payable in cash rather than shares when specified plan events occur.

What is the total phantom stock balance reported for Daniel Schulman at Verizon (VZ)?

After the reported transaction, Daniel Schulman held 7,176.542 phantom stock units. This total reflects his indirect holdings in Verizon’s deferred compensation plan, including phantom stock acquired through dividend reinvestment as described in the filing’s footnotes.

Are Verizon (VZ) phantom stock units the same as owning common shares?

No, phantom stock units are cash-settled and do not represent actual share ownership. Each unit is the economic equivalent of a portion of one Verizon common share and becomes payable in cash upon events set under the deferred compensation plan.

What underlying Verizon (VZ) common stock amount is linked to Daniel Schulman’s new phantom stock grant?

The 197.535 phantom stock units reported for Daniel Schulman correspond to 56 underlying shares of Verizon common stock. This linkage reflects economic equivalence, while settlement occurs in cash according to the company’s deferred compensation plan provisions.