VZ Insider Filing: Anthony Skiadas Adds 138.081 Phantom Stock Units

Rhea-AI Filing Summary

Anthony T. Skiadas, EVP and CFO of Verizon Communications Inc. (VZ), reported a Section 16 filing showing a non-derivative change under the company's deferred compensation plan. On 08/28/2025 Mr. Skiadas acquired 138.081 units of Phantom Stock (unitized), which the filing describes as the economic equivalent of a portion of one share of common stock and settled in cash. The filing notes phantom stock becomes payable upon events established by the reporting person under the deferred compensation plan and that the reported holdings include phantom stock acquired through dividend reinvestment. The Form 4 was signed by an attorney-in-fact on 08/29/2025.

Positive

• Transaction is plan-based and disclosed: The filing explicitly shows the acquisition arose under Verizon's deferred compensation plan and is reported as indirect ownership.
• Clear economic nature: The Form 4 states phantom stock is cash-settled and an economic equivalent of a portion of a common share, clarifying the instrument's treatment.
• Includes dividend reinvestment: The filing notes phantom stock holdings include units acquired through dividend reinvestment, providing transparency on accumulation sources.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Reported acquisition is a routine deferred-compensation settlement in phantom stock, recorded as indirect ownership through the plan.

The filing shows Anthony T. Skiadas acquired 138.081 units of unitized phantom stock on 08/28/2025 under Verizon's deferred compensation plan and reports those units as indirectly owned. The filing explicitly states each phantom unit is an economic equivalent settled in cash and that dividend reinvestment contributed to the reported phantom holdings. This is a non-derivative, plan-related transaction recorded under Section 16; it does not report exercise of options or direct purchases of common shares. From a governance perspective, the disclosure appropriately identifies the relationship (EVP and CFO), the plan-based nature of the acquisition, and the signer acting as attorney-in-fact.

Compensation & Benefits Analyst

TL;DR: The transaction reflects deferred compensation mechanics rather than open-market trading or option exercise.

The Form 4 details acquisition of phantom stock units (138.081) that are cash-settled and become payable under events chosen by the reporting person per the deferred compensation plan. The filing also references dividend reinvestment as a source of additional phantom units. This disclosure aligns with standard deferred-compensation reporting and clarifies the economic, cash-settled nature of the award rather than equity issuance. Material financial details such as payout timing or valuation methodology are not provided in this Form 4 and would be found in the underlying plan documents or other filings.

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
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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^*

Skiadas Anthony T

(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 CFO

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	127,875.09(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 Anthony T. Skiadas	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.

FAQ

What did Anthony T. Skiadas report on the Form 4 for VZ?

He reported acquisition of 138.081 units of Phantom Stock (unitized) on 08/28/2025, recorded as indirect ownership under a deferred compensation plan.

What is the economic nature of the phantom stock reported in this VZ filing?

The filing states each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.

Does the Form 4 show these phantom units were acquired through reinvested dividends?

Yes. The filing explicitly notes the reported phantom stock includes units acquired through dividend reinvestment.

What is the reporting person's role at Verizon in this Form 4?

The reporting person is Anthony T. Skiadas, identified as EVP and CFO of Verizon Communications Inc.

When was the Form 4 signed and who signed it?

The signature block shows Evgeniya Berezkina, Attorney-in-fact for Anthony T. Skiadas signed the form on 08/29/2025.