VZ Insider Update: Vestberg Credits Deferred Comp with Phantom Stock

Rhea-AI Filing Summary

On 07/31/2025, Verizon Communications Inc. (VZ) Chairman & CEO Hans Erik Vestberg filed a Form 4 disclosing the acquisition of additional deferred-compensation units.

• Derivative security: 217.48 phantom-stock units (Code “A”).
• Economic exposure: Units represent cash-settled value linked to 62 VZ common shares; they do not increase the public share count.
• Reference price: $12.20 per phantom unit.
• Post-transaction balance: 195,347.745 phantom units held indirectly in the Verizon Deferred Compensation Plan.

No common shares were bought or sold; the filing reflects routine compensation deferral rather than discretionary investment. Given Verizon’s ~4.2 bn shares outstanding, the 62-share equivalent addition is immaterial and is unlikely to influence trading dynamics or insider-sentiment assessments.

Insights

Securities Analyst

TL;DR: Routine phantom-stock accrual; immaterial size; neutral for valuation or sentiment.

The transaction is a standard deferred-comp plan election: 217.48 units credited to Vestberg’s account, translating to roughly 62 share equivalents. Because phantom stock is cash-settled, Verizon’s diluted share count is unchanged and no direct capital flows occur. Vestberg now holds 195k units, but this represents less than 0.005% of common shares, so the incremental addition has no bearing on control, liquidity, or governance. Investors typically view such filings as administrative, not directional; therefore I classify the impact as neutral.

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^*

Vestberg Hans Erik

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

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)	07/31/2025		A		217.48		(1)	(1)	Common Stock	62	$12.2	195,347.745(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 Hans Erik Vestberg	08/01/2025
	** 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 did Verizon (VZ) CEO Hans Erik Vestberg report on the latest Form 4?

He acquired 217.48 phantom-stock units on 07/31/2025 under the company’s deferred-compensation plan.

Does the phantom-stock purchase change Verizon’s share count?

No. Phantom stock is cash-settled, so no new shares are issued and dilution is unaffected.

How many phantom units does Vestberg now hold?

Following the transaction he indirectly owns 195,347.745 phantom-stock units.

Was any Verizon common stock bought or sold?

No direct trades in common stock were reported; the filing only covers deferred-compensation units.

Is the transaction likely to impact VZ’s share price?

Given the small size—equivalent to about 62 shares—market impact should be negligible.