VZ Insider Filing: Kyle Malady Credits Deferred Plan with 139 Units

Rhea-AI Filing Summary

Verizon Communications Inc. (VZ) – Form 4 insider transaction

EVP & Group CEO–VZ Business Kyle Malady reported a single transaction dated 07/02/2025 involving 139.163 phantom stock units credited to his deferred-compensation account. Each unit represents the economic value of a portion of one Verizon common share and is settled in cash, not stock. Following the credit, his indirect holding in the plan totals 382,027.306 phantom stock units. The derivative units were acquired at a reference price of $12.44 per unit and include amounts received through dividend reinvestment. No open-market purchase, sale, or change in direct common-stock ownership was reported.

The transaction is filed as indirect ownership under the company’s deferred compensation plan and appears to be routine, reflecting ongoing accrual rather than a strategic purchase or sale.

Insights

Securities Analyst

TL;DR: Routine phantom-stock accrual; neutral signal for VZ shareholders.

The filing shows a modest addition of 139 phantom stock units to Mr. Malady’s deferred-compensation balance, now exceeding 382 k units. Because phantom stock is cash-settled and acquired automatically via the plan—including dividend reinvestment—this activity does not directly affect Verizon’s share count or convey the same information value as an open-market purchase. The dollar value is de-minimis relative to the executive’s existing stake and Verizon’s market capitalization. Consequently, I view the disclosure as non-impactful; it neither signals management’s conviction nor raises governance concerns.

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)
07/02/2025

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)	07/02/2025		A		139.163		(1)	(1)	Common Stock	40	$12.44	382,027.306(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	07/07/2025
	** 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 EVP Kyle Malady report in the 07/07/2025 Form 4?

He acquired 139.163 phantom stock units on 07/02/2025 through the company’s deferred-compensation plan.

Does the transaction involve actual Verizon (VZ) shares?

No. Phantom stock units are cash-settled instruments that mirror Verizon’s share price but do not involve issuance of common shares.

What is Kyle Malady’s total phantom stock ownership after the transaction?

His indirect holding is 382,027.306 phantom stock units in the deferred-compensation plan.

Was the transaction part of a 10b5-1 trading plan?

The filing does not indicate use of a Rule 10b5-1 plan; the units were credited automatically under the compensation plan.