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Verizon EVP Kyle Malady Adds Cash‑Settled Phantom Stock Units

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

Rhea-AI Filing Summary

Insider Form 4 shows Verizon executive Kyle Malady acquired phantom stock units under the company deferred compensation plan. On 08/28/2025 Mr. Malady received 138.081 units of unitized phantom stock, priced at $12.53 per unit, which are economically equivalent to a portion of a share and are settled in cash. After the transaction the reporting person beneficially owns 388,580.932 units (including dividend-reinvested units). The phantom units become payable under the executive's elected terms in Verizon’s deferred compensation plan.

Positive

  • Clear disclosure of a deferred compensation acquisition consistent with Section 16 reporting
  • Transaction is cash-settled phantom stock, so no dilution of common shares occurred

Negative

  • None.

Insights

TL;DR: Routine deferred-compensation acquisition increases cash-settled phantom holdings; no equity issuance or change in voting power.

The Form 4 documents an acquisition of 138.081 phantom stock units at an indicated unit value of $12.53, producing a total beneficial holding of 388,580.932 units. These units are cash-settled equivalents of common stock, so this transaction does not dilute shares outstanding or change corporate voting structure. Impact on company capital structure and market float is immaterial.

TL;DR: Transaction reflects compensation deferral activity; disclosure is timely and consistent with Section 16 requirements.

The filing identifies Mr. Malady as an EVP and Group CEO-VZ Business and reports the acquisition through Verizon’s deferred compensation plan, with settlement mechanics and dividend reinvestment noted. This is a standard, compliant disclosure of indirect beneficial ownership via a deferred-compensation vehicle and does not indicate unusual governance or insider-trading concerns.

Insider Malady Kyle
Role EVP and Group CEO-VZ Business
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 138.081 $12.53 $2K
Holdings After Transaction: Phantom Stock (unitized) — 388,580.932 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.
Form 4 Insider Transactions: What Each Field Means →
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*
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)
08/28/2025
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) 08/28/2025 A 138.081 (1) (1) Common Stock 39 $12.53 388,580.932(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 08/29/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Kyle Malady report on the Form 4 for VZ?

The Form 4 reports Mr. Malady acquired 138.081 phantom stock units under Verizon’s deferred compensation plan on 08/28/2025 at a unit value of $12.53.

Does this Form 4 transaction issue new Verizon shares (VZ)?

No. The filing describes phantom stock that is settled in cash and is the economic equivalent of common stock, so no new shares were issued.

How many phantom units does the reporting person beneficially own after the transaction?

The filing shows beneficial ownership of 388,580.932 phantom stock units, which includes units acquired through dividend reinvestment.

What is the settlement method and timing for these phantom units?

Each phantom share is the economic equivalent of a portion of common stock and is settled in cash upon events selected by the reporting person under the deferred compensation plan.

Who signed the Form 4 on behalf of the reporting person?

The form was signed by Evgeniya Berezkina, Attorney-in-fact for Kyle Malady on 08/29/2025.